According to the 2025 UBS Global Wealth Report[i], one in ten Australians are now millionaires in US dollar terms, with property playing a starring role—making up more than half of the nation’s personal wealth. As real estate values continue to climb and listings tighten, there’s rarely been a better time for property owners considering a sale.

Fresh data from Cotality (formerly CoreLogic), shows national dwelling values rose by 0.6% last month—marking a sixth consecutive month of growth.

Every capital city recorded a rise in dwelling values through the month, led by Darwin with an impressive 2.2% rise, followed by Perth, up 0.9%, and Brisbane and Adelaide with growth of 0.7%.

“The ongoing price gains coincide with the first interest rate cut in February and have held steady for the past four months,” said Angus Raine, Executive Chairman, Raine & Horne.

However, sellers appear to be holding back. SQM Research reports that national residential property listings declined by 3.0% in July 2025 to 227,135 properties—a signal that many vendors remain cautious despite favourable conditions.

“The drop reflects a measured retreat in vendor activity across most capital cities, as markets continue to respond to traditional winter reticence to list a property for sale and economic shifts,” said Angus.

Angus notes that winter can often be a smart time to sell. “In many markets, you could be competing against significantly fewer listings—sometimes double-digit percentage drops compared to later in spring,” he explained.

With supply remaining tight, sellers are well-positioned. “The lack of stock makes your home or investment property more likely to stand out now—something that can be harder to achieve in say October or November when the spring market truly hots up and Christmas real estate deadlines shorten,” Angus added.

Real estate powering Australian wealth

Recent surges in property values have boosted the number of Australian millionaires to a global high, according to the UBS Global Wealth Report 2025[ii].

The 2025 UBS Global Wealth Report found one in 10 Australians have become millionaires in US dollar terms ($AU1.55 million) amid the pronounced wealth growth experienced by those in the middle bands.

That's a total of 1.9 million people out of Australia's 25.8 million population, and UBS expects this figure to grow by more than 20% by 2028 — the equivalent to an increase of roughly 400,000 people.

According to UBS, “Australia stands out for its real estate that makes up almost 53% of the country’s personal wealth, ahead of the United Kingdom and far ahead of the other markets. In the United States, the proportion is 30%.

“The proportion of wealth held in cash and deposits is the lowest in Australia at just above 10%, only half as much as in Switzerland, Singapore and the UK.”

Moreover, Australia now has the second-highest median wealth in the world at $US268,000 ($411,000), only behind Luxembourg.

Angus Raine said, “For generations, owning a home has been part of the Great Australian Dream—and now we’re seeing that dream pay off in spades. Plenty of everyday Aussies are discovering that their property holdings have quietly turned them into millionaires.”

That said, Angus acknowledges that the same market strength that’s built wealth for some is creating real affordability challenges for others. “There’s no doubt cost-of-living pressures and rising property prices are making it harder for first-time buyers to get a foot on the ladder,” he said.

Still, the recent UBS findings reflect the unique place property holds in Australian culture and its influence on the broader economy. “There was a time when the Australian economy rode on the sheep’s back—now it’s more like bricks and mortar,” said Angus.

“We’re probably the only country in the world where people wait with bated breath for every Reserve Bank decision on interest rates, the latest CPI update, or a fresh round of monthly property market analysis.”

And with good reason, Angus added. “The total value of Australian residential real estate now sits at a staggering $11.3 trillion[iii]—almost four times the size of the Australian shares, which is worth around $3 trillion[iv].”

If you’re considering listing a property before the spring market starts to heat up, contact your local Raine & Horne agent today.

[i] https://www.ubs.com/us/en/wealth-management/insights/global-wealth-report.html 

[ii] https://www.ubs.com/us/en/wealth-management/insights/global-wealth-report.html 

[iii] https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/total-value-dwellings/latest-release

[iv] https://www.ceicdata.com/en/australia/australian-stock-exchange-market-capitalization