Where property prices are rebounding around the country

Australian home prices rebounded strongly in 2023, new figures released today have shown.

The Home Value Index from property data provider CoreLogic revealed prices surged by 8.1 percent last year after falling -4.9 percent in 2022. However, recorded growth is nothing like the rises in 2021, which saw home prices swell by 24.5 percent.

CoreLogic research director Tim Lawless said while the greatest increases were seen at the start of 2023, consistent interest rate rises announced by the RBA put a dampener on growth as the year progressed, with just a 0.4 percent increase in December.

“This was the smallest gain in our national monthly HVI since values started rising in February,” Mr Lawless said. “After monthly growth in home values peaked in May at 1.3 percent, a rate hike in June and another in November, along with persistent cost of living pressures, worsening affordability challenges, rising advertised stock levels and low consumer sentiment, have progressively taken some heat out of the market through the second half of the year.”

While regional areas saw record price rises during COVID, it is now the Australian capitals leading increases in home values, Mr Lawless said.

“Stronger conditions across capital city markets is a reversal of the early COVID trend which saw regional markets experience higher demand amid strong internal migration,” he said. “Regional migration trends have mostly normalised through 2023, and the significant capital gains recorded through 2020 to 2022 has meant many regional markets have become less affordable.”

However, growth across capital cities is uneven, with Perth recording the highest annual increases at 15.2 percent, followed by Brisbane on 13.1 percent and Sydney on 11.1 percent. The results were followed by Adelaide (8.8 percent), Melbourne (3.5 percent) and Canberra (0.5 percent). Darwin and Hobart values declined over the past 12 months, down -0.1 percent and -0.8 percent respectively.

In Perth, the top performing suburb was Armadale, up 25.2 percent, followed by Gosnells, 22.6 percent.

In Brisbane, home values in the suburb of Nathan are up 22 percent on last year, followed by Mt Gravatt, up 21.1 percent.

For the Sydney market, Blacktown lead the way, with a 15.8 percent increase in home values, followed by the inner west suburbs of Marrickville – Sydenham – Petersham, which increased by 15.3 percent.

Rank	SA3 Name	SA4 Name	Median Value	Annual change
*Greater Sydney*
1	Blacktown	Sydney -Blacktown	$969,287	15.8%
2	Marrickville -Sydenham -Petersham	Sydney -City and Inner South	$1,741,931	15.3%
3	Hornsby	Sydney -North Sydney and Hornsby	$1,485,422	15.3%
4	Strathfield -Burwood -Ashfield	Sydney -Inner West	$917,641	14.9%
5	Eastern Suburbs -North	Sydney -Eastern Suburbs	$1,988,175	14.6%
6	Warringah	Sydney -Northern Beaches	$2,068,585	14.5%
7	Canterbury	Sydney -Inner South West	$1,085,111	14.3%
8	Mount Druitt	Sydney -Blacktown	$812,868	14.1%
9	Merrylands -Guildford	Sydney -Parramatta	$1,060,399	14.1%
10	Leichhardt	Sydney -Inner West	$2,007,850	14.0%
*Greater Melbourne*
1	Darebin -North	Melbourne -North East	$762,619	7.9%
2	Banyule	Melbourne -North East	$935,214	7.7%
3	Monash	Melbourne -South East	$1,223,086	7.6%
4	Knox	Melbourne -Outer East	$910,533	7.5%
5	Manningham -West	Melbourne -Inner East	$1,388,013	7.1%
6	Manningham -East	Melbourne -Outer East	$1,539,018	6.9%
7	Whitehorse -West	Melbourne -Inner East	$1,213,085	6.7%
8	Whitehorse -East	Melbourne -Outer East	$1,185,513	6.1%
9	Casey -North	Melbourne -South East	$808,703	5.3%
10	Casey -South	Melbourne -South East	$758,745	5.1%
*Greater Brisbane*
1	Nathan	Brisbane -South	$1,079,497	22.0%
2	Mt Gravatt	Brisbane -South	$1,117,075	21.2%
3	Sunnybank	Brisbane -South	$1,026,758	19.4%
4	Carindale	Brisbane -South	$1,212,544	19.1%
5	Holland Park -Yeronga	Brisbane -South	$756,166	18.8%
6	Springwood -Kingston	Logan -Beaudesert	$638,552	17.1%
7	Chermside	Brisbane -North	$945,095	16.7%
8	Rocklea -Acacia Ridge	Brisbane -South	$935,200	16.2%
9	Nundah	Brisbane -North	$794,173	15.7%
10	Forest Lake -Oxley	Ipswich	$665,472	15.4%
*Greater Adelaide*
1	Playford	Adelaide -North	$474,782	14.3%
2	Gawler -Two Wells	Adelaide -North	$590,250	13.7%
3	Salisbury	Adelaide -North	$582,159	13.2%
4	Tea Tree Gully	Adelaide -North	$700,396	11.5%
5	Port Adelaide -West	Adelaide -West	$691,116	11.0%
6	Onkaparinga	Adelaide -South	$663,042	9.9%
7	Port Adelaide -East	Adelaide -North	$737,926	8.5%
8	Marion	Adelaide -South	$797,606	8.3%
9	Campbelltown	Adelaide -Central and Hills	$859,213	8.2%
10	Burnside	Adelaide -Central and Hills	$1,416,110	8.2%

Top 10 capital cities SA3s with the highest 12-month value growth – Dwellings. Source: CoreLogic

Italian fine wines are gaining momentum among Australian collectors and drinkers, with new data from showing a surge in interest driven by value, versatility and a new generation of producers.

Long dominated by France, the premium wine conversation is beginning to shift, with Italy increasingly positioned as a compelling alternative for both drinking and collecting.

According to Langtons, the category is benefiting from a combination of factors, including its breadth of styles, strong food affinity and more accessible price points compared to traditional European benchmarks.

“Italy has always offered fine wine fans an incredible range of wines with finesse, nuance, expression of terroir, ageability, rarity, and heritage,” said Langtons General Manager Tamara Grischy.

“There’s no doubt the Italian wine category is gaining momentum in 2026… While the French have long dominated the fine wine space in Australia, we’re seeing Italy become a strong contender as the go-to for both drinking and collecting.”

The shift is being reinforced by changing consumer preferences, with Langtons reporting increased demand for indigenous Italian varieties and lighter, food-first styles such as Nerello Mascalese from Etna and modern Chianti Classico.

This aligns with the broader rise of Mediterranean-style dining in Australia, where wines are expected to complement a wider range of dishes rather than dominate them.

Langtons buyer Zach Nelson said the category’s versatility is central to its appeal.

“Italian wines often have a distinct, savoury edge making them an ideal pairing for a variety of cuisines,” he said.

The move towards Italian wines also comes as prices for traditional French regions continue to climb, particularly in Burgundy, prompting collectors to look elsewhere for value without compromising on quality.

Italy’s key regions, including Piedmont and Etna, are increasingly seen as offering that balance, with premium wines available at comparatively accessible price points.

Nelson said value is now a defining factor for buyers in 2026.

“Value is the key driver for Australian fine wine consumers… Italian wines are offering exactly that at an impressive array of price points to suit any budget,” he said.

The category is also proving attractive for newer collectors, offering what Langtons describes as “accessible prestige” and a more open entry point compared to the exclusivity often associated with Bordeaux.

Wines such as Brunello di Montalcino and Nebbiolo-based expressions are increasingly being positioned as entry points into cellar-worthy collections, combining ageability with relative affordability.

At the same time, a new generation of Italian producers is reshaping the category, moving away from heavier, oak-driven styles towards wines that emphasise site expression and vibrancy.

“There’s definitely a ‘new guard’ of Italian winemaking… stripping away the makeup… to let the raw, vibrating energy of the site speak,” Nelson said.

Langtons is also expanding its offering in the category, including exclusive access to wines from family-owned producer Boroli, alongside a broader selection spanning Piedmont, Veneto, Sicily and Tuscany.

The company will showcase the category further at its upcoming Italian Collection Masterclass and Tasting in Sydney, featuring more than 50 wines from 23 producers across four key regions.

For collectors and drinkers alike, the message is clear: Italy may have been overlooked, but it is no longer under the radar.

Where property prices are rebounding around the country

Interest rate rises and cost of living pressures resulted in mixed results on home values around Australia

Italian wines are emerging as a serious contender for Australian collectors, offering depth, rarity and value as French benchmarks continue to climb.