Despite the traditional softening in property activity that often accompanies a Federal Election campaign, Australia’s real estate market has proven surprisingly resilient.

According to the latest data from Cotality (formerly CoreLogic), Australian dwelling values rose by 0.3% in April to $825,349, marking the third consecutive month of growth and setting a new national record high for home values.

Better still the lift in home values was recorded across every capital city, ranging from a 1.1% gain in Darwin, to a 0.2% rise in Sydney and Melbourne.

“This strength is especially notable given that political uncertainty and pre-election caution made the market a little patchy over the campaign period,” said Angus Raine, Executive Chairman, Raine & Horne.

At a network level, Raine & Horne data shows listings in April were down slightly year-on-year by 8.51%, suggesting some vendors may be waiting until after the election to list. “However, buyer interest remained solid, with open home activity holding up well across the board,” Angus said.

While the number of groups attending open homes was down year-on-year, April still outperformed both January and March in terms of buyer attendance, according to Raine & Horne.

“The only month that attracted more open home groups in 2025 was March, which traditionally benefits from an early autumn surge in activity before Easter and school holidays,” Angus added.

Angus noted that the slight dip in listing volumes and open home numbers was partly due to the extended ‘super holiday break’ many Australians took between Easter and ANZAC Day. Still, he remained optimistic.

“Despite lower stock levels and broader market caution, buyers are clearly still active and engaged—especially as expectations of interest rate cuts grow and investors seek greater stability amid global economic volatility in the wake of the US’s ‘Liberation Day’ tariff announcements in early April.”

With conditions tipped to improve further post-election and with the Reserve Bank widely tipped to cut the official cash rate on 20 May, the message from Angus for both buyers and sellers is simple: “This market isn’t standing still and if you have all your ducks in a row, now is the time to make a move.”

Change in dwelling values, capital cities – April 2025

(Source: CoreLogic Hedonic Home Value Index 1 May 2025)

If you’re considering listing a property this autumn or early wnter, contact your local Raine & Horne agent today.