Mortgage Report 2026 | A Look At Where Australia is headed

National dwelling values pushed to fresh highs over the year, but the real story lies beneath the surface. Growth has been anything but uniform. Perth, Brisbane and Darwin led the charge with double-digit annual gains, while Melbourne, Hobart and Canberra continued a more measured recovery below previous peaks. Sydney reached a new high as well, reinforcing its resilience — even as affordability pressures persist.

The takeaway? There isn’t one Australian property market — there are several, each moving at its own pace. And where growth accelerates, mortgage demand inevitably follows.