July Market Snapshot – Mortgage Matrix

Every capital city saw a rise in property values except for Hobart, which recorded a minor drop of 0.2%. Median house prices across the capitals now sit at $1,034,806, with median unit prices at $697,233.

Auction clearance rates have also lifted, exceeding the decade average in the final two weeks of June — a strong sign that buyer demand remains resilient even through the winter season.

Interest Rates Hold Steady

The Reserve Bank of Australia (RBA) has kept the cash rate unchanged at 3.85%, a move that surprised many economists expecting a cut following recent inflation data.

The Consumer Price Index (CPI) rose 2.1% in the 12 months to May, down from 2.4% in April. Core inflation (trimmed mean) dropped to 2.4% — the lowest since November 2021 — and is now within the RBA’s target range of 2–3%.

The RBA board was split in its decision, with six members voting to hold and three in favour of an immediate cut. Governor Michele Bullock noted the board agrees on the overall direction for interest rates, though opinions differ on the timing. The next policy meeting is scheduled for August 12, and some banks are forecasting a potential rate cut.

New Financial Year, New Opportunities

The start of the new financial year has brought fresh opportunities for home buyers, including several new and expanded government schemes:

• Help to Buy Shared Equity Scheme
  Eligible buyers can receive a government contribution of up to 40% of the purchase price for new homes (or 30% for existing homes). With just a 2% deposit required and no Lenders Mortgage Insurance (LMI), this scheme could significantly ease the path to home ownership. This scheme is set to be open to first home buyers towards the end of 2025

  
  

• Home Guarantee Scheme – 50,000 New Places Available

  • 35,000 places under the First Home Guarantee

  • 10,000 places under the Regional First Home Buyer Guarantee

  • 5,000 places under the Family Home Guarantee

These initiatives are designed to support first home buyers, regional buyers, and single parents entering the property market with greater confidence.

Talk to Mortgage Matrix

With property values rising and new support measures now live, it's a great time to review your home loan options. Whether you're buying your first home, refinancing, or investing, our experienced brokers are here to help you make informed decisions and secure the right solution.

Book a free appointment with Mortgage Matrix today and let’s take the next step together.