by Sanjeev Sah | Mar 04, 2025 | Market Updates

High interest rates typically mean lower property prices, but home values in most suburbs across Australia have defied this trend, according to PropTrack. 

While higher interest rates increase the cost of mortgages, reducing demand for real estate and, thus, putting downward pressure on prices, median house prices in nearly 80% of suburbs nationwide were higher at the end of 2024 than before the first rate hike in May 2022. Similarly, 68% of suburbs recorded higher median unit prices.

PropTrack senior data analyst Karen Dellow said 100% of suburbs in Greater Perth and Regional WA experienced median house price growth while almost all suburbs in Brisbane, Regional QLD and Regional SA recorded higher home values. 

For units, a similar trend is observed, with most suburbs in capitals and regional areas of SA, QLD, and WA experiencing growth, she said.