April Market Update: Where We’re Buying—and What the Numbers Are Telling Us

We’ve seen some notable shifts across the Australian property landscape in recent months. As always, we’re closely tracking where the data is pointing and where our clients are actively buying.

In this update, we’ll break down what we’re seeing across the capital and rental growth markets, where we’re focusing our acquisitions right now, and highlight one of the standout regions getting consistent attention from both our clients and our team.

Capital Growth: Steady Overall, but Momentum Is Starting to Shift

Nationally, capital city markets have delivered 7.1% growth over the past 12 months. That’s a solid return, but we’re now seeing signs of softening in a few key locations.

Here’s how things are tracking:

• Sydney has been relatively stable, with around 5% annual growth.
• Melbourne has been flat and has slipped slightly, down 1.1% since last month.
• Brisbane, Perth and Adelaide have been the strongest performers over the past year, though some early indicators suggest they may be starting to cool.
• Hobart, after an extended period of slowing down, has seen a small lift of 1.2%, which could signal the start of a recovery.

While the national trend looks relatively balanced, the real insights are in how each market is moving beneath the surface.

Rental Growth: Consistent Returns in the Right Areas

Rental demand remains strong in several markets, and yields are holding up well in many of the areas we’ve been active in.

• The national rental growth average sits at 5.8%.
• Capital city markets are averaging 2.6%.
• Perth, Adelaide and Hobart have all delivered rental growth above 5% over the past 12 months.
• Canberra has pulled back slightly but remains relatively steady overall.

These rental figures are an important piece of the puzzle, especially in markets where capital growth may be slowing. Strong tenant demand and rising rents continue to support investor returns.

Where We're Buying Now: Victoria Leading the Way

The most noticeable trend in our recent activity has been the clear shift toward Victoria. Over the past 60 days, more than 60% of the properties we’ve purchased for clients have been in that one state.

This is a significant increase and reflects where value and opportunity are aligning right now.

So why Victoria?

• Affordability is playing a big role, especially as some markets interstate become less accessible.
• Yields are competitive and growth potential is still on the table.
• Many of our clients are also looking to diversify away from states like Queensland and WA, where they may already have multiple properties.

It’s important to point out that this isn’t a top-down decision. Clients come to us with their own goals, budgets and preferences, and we work within that brief. The shift toward Victoria is largely driven by where the best matches are right now.

Breakdown of our recent purchase activity:

• Victoria: 60%
• Queensland: 15% (down from earlier levels due to pricing pressures)
• NSW, WA and Tasmania: around 8 to 9% each

The drop in Queensland is especially telling. We’re seeing fewer properties pass our due diligence process, particularly when it comes to price. It’s getting harder to find assets there that represent fair value.

Spotlight: Latrobe Valley and National Purchase Insights

One region that’s stood out recently is the Latrobe Valley in Victoria’s Gippsland region. Around 30% of all purchases we’ve made over the past 60 days have been in this LGA alone.

While we keep most of our active locations reserved for clients, this is one area we’re happy to highlight. It offers an attractive mix of affordability, rental demand and long-term growth potential.

Looking at all our purchases across the country over the past 60 days, here are some key stats:

• Median purchase price: $546,000
• Median yield: 5%
• Average land size: 664 square metres
• Average build year: 1981

These numbers give a good sense of the types of properties we’re targeting. Established homes in growth-aligned areas, with strong fundamentals and land content that supports long-term performance.

Final Thoughts

We’re still seeing consistent results in the current market, but the pace and pattern of growth are shifting. The best opportunities aren’t always in the headlines. They’re in the data, the details and the due diligence.

Right now, we’re focusing on quality assets in locations where the numbers line up with long-term fundamentals. If you’re thinking about your next step, or want to make sure your current portfolio is still aligned with market conditions, we’re here to help.