Home prices are continuing to rise throughout Australia, with new data showing that modest growth during March has driven prices up by 3.91% over the past 12 months.

PropTrack data shows that annual price growth in regional centres continues to outpace that of capital cities. Regional West Australia had the highest growth in the past 12 months of 12.3%, while Regional South Australia is up by 11.5%.

The figures show that the Melbourne market is finally starting to achieve some price growth. Its median house price is up 0.1% during March, which has softened its yearly decline to just -2.4%.

The smaller capital cities are the most solid performers in the house market over the past 12 months with Adelaide, up 11.3%, leading the charge, followed by Perth, 11.2%, Brisbane, 8.4% and Darwin, 5.1%.

Sydney is up by 2.9%, Hobart, 2.2%, and the ACT, 0.9%.

PropTrack senior economist Eleanor Creagh says February’s rate cut boosted borrowing capacity and buyer confidence, helping to reignite demand and reverse the small price declines of early 2025.

She says prices in both capital cities and regional areas are sitting at record highs.

In the unit market medians are up 4.5% over the year with Brisbane the best performer, achieving growth of 14.8%, followed by Perth, 14.4% and Adelaide, 11.3%.