MAJOR CITY HOUSE PRICES (% CHANGE) IN THE LAST 12 MONTHS
AUSTRALIA* $1M 2.9%
$ MEDIAN HOUSE PRICE % CHANGE IN PRICE Source: Neoval, Cotality Updated as of August 2026 *VIC and national data sourced from Cotality due to data availability. All other major cities sourced from Neoval.
WEMBLEY $2M 6.8%
MAJOR CITY UNIT PRICES (% CHANGE) IN THE LAST 12 MONTHS
AUSTRALIA* $740K 2.0%
$ MEDIAN UNIT PRICE % CHANGE IN PRICE Source: Neoval, Cotality Updated as of August 2026 *VIC and national data sourced from Cotality due to data availability. All other major cities sourced from Neoval.
WEMBLEY $560K 31.8%
In August 2026, Wembley's median house price reached approximately $2.00M, reflecting a solid 6.8% increase compared to this same month last year, and an impressive 110.5% surge from this same month 10 years ago. The unit market has similarly performed strongly, with median prices currently at around $560K, representing a significant 31.8% gain year-on-year, and a 67.2% rise over the past decade. This robust growth across both property types has occurred alongside favourable local market conditions, consistently outperforming many broader capital city trends.
Wembley's rental market in August 2026 reflects strong performance, with the median weekly house rental rate approximately $1,100. This represents a solid gain of 15.8% compared to this same month last year, and a substantial 69.2% increase from 10 years ago. The unit market has also continued its upward trajectory, with median weekly rents approximating $595. This segment recorded an impressive 12.3% growth over the past year, alongside an outstanding 105.2% rise over the decade, consistently outperforming broader capital city trends for units and underscoring sustained demand in the area.
Wembley's sales activity for the 12 months to June 2026 reflects a diverse distribution across price points. The housing market recorded a solid gain in premium segments, with 41 transactions between $2M and $3M and 35 sales from $1.5M to $2M, firmly establishing its luxury tier. Concurrently, the unit sector demonstrated significant activity in more accessible price ranges, with 76 sales in the $500K to $750K bracket and 65 units under $500K. This spread highlights a market offering both high-value residences and a vibrant affordable entry point, coinciding with stronger demand for accessible price points than broader capital city unit trends.
New listings in August 2026 recorded a modest 4.5% monthly gain in August, reaching 23 properties in Wembley. This represented a 4.5% increase compared to August 2025 listings, while still 14.8% lower than two years prior in August 2024. This monthly rise in new stock stands in contrast to broader markets, which saw a decline in new listing authorities over the same period, reflecting resilient vendor activity locally. The trend of modest new supply reinforces persistent supply constraints observed across the market, contributing to its premium positioning.
Methodology Pricing data
Listing data
Price data is sourced from our research partners at Neoval Research Group, providing comprehensive coverage across all major Australian capital cities and regional markets. Price movements are calculated using median values to ensure accurate representation of typical market performance.
National property listing volumes are sourced from Domain, Australia’s leading property portal, providing comprehensive coverage of new property listings across all markets. National listings: presented as monthly counts spanning the last three years (2023-2025) to identify seasonal patterns and year-over-year trends in property supply. Major city and regional listings: current month data is presented with both monthly percentage change (comparison to previous month) and annual percentage change (comparison to same month in previous year) to highlight both short-term fluctuations and longer-term supply trends.
Why median? The median provides a reliable measure of the “typical” market price by identifying the middle value when all sales are arranged in order. Unlike arithmetic averages, which can be distorted by extreme high or low sales, the median represents the price point where half the properties sold for more and half sold for less. This methodology is particularly valuable when analysing property markets as it reduces the impact of outliers – such as exceptionally expensive waterfront properties or distressed sales – providing a truer reflection of what most buyers and sellers experience in the market. The median effectively captures the centre of the market distribution, making it an ideal measure for tracking genuine price movements over time. Tasmania exception: Due to licensing restrictions, median data from Neoval is not available for Tasmania. For Tasmanian markets, we utilise the Median Sales AVM Value from Cotality, which represents the median (50th percentile) estimated sales value of all properties based on the hedonic imputation method. ABS region segmentation and naming convention Our analysis utilises the Australian Bureau of Statistics (ABS) geographical classification system, employing GCC, SA4, SA3 and SA2 naming conventions as the statistical and computational standard established by the ABS. This hierarchical structure provides a consistent framework for analysing property markets at various geographical scales, from major metropolitan areas down to individual SA2s. The visual representation and practical application of these classifications can be explored through the ABS mapping portal at https://maps.abs.gov.au, which displays the 2021 GCC, SA4, SA3 and SA2 shape files. These are the same shape files and naming conventions used by Neoval in their price modelling computations, ensuring consistency between our data sources and official statistical boundaries. For comparative analysis purposes, the Sunshine Coast and Gold Coast regions are classified alongside GCC Major City regions. This classification reflects their substantial price growth over recent years and their common comparison with major metropolitan markets. Given their economic significance and market characteristics, these regions are considered Major City regions for the purposes of this analysis.
Sales count data Sales count data by price point is sourced from Australian Property Monitors (APM) and Valuer General records, providing transaction data across all fixed price segments for market segmentation analysis. While filtered for residential properties only, some commercial or rural properties may be incorrectly classified as residential in the source data, potentially affecting data precision. Temporal framework All data series are presented on a monthly basis covering the three-year period from 2023 to 2025, enabling identification of seasonal patterns, cyclical trends, and year-over-year comparisons. This timeframe captures the full interest rate cycle from peak rates through to the current cutting cycle, providing context for current market dynamics. All data sources represent substantial market coverage but may not capture 100 per cent of market activity. Price data from Neoval provides broad market representation. Regional variations in data coverage may exist, with metropolitan markets generally providing more comprehensive data. Commentary Generation Methodology The market commentary throughout this report was generated using Google's Gemini 2.5 Flash, a state-of-theart large language model chosen for its exceptional ability to analyse complex datasets and translate them into clear market insights. The model was fed comprehensive data from both our national report along with region specific metrics, enabling it to contextualise local movements within broader market trends. Through multiple iterations of refinement, we optimised the system to provide straightforward, factual descriptions of the data presented in charts and tables, avoiding speculation while highlighting key trends and significant data points. This approach represents our ongoing efforts to deliver consistent, data-driven commentary that accurately reflects underlying market information in accessible language for both property professionals and general readers.
Ray White Group Economics Team
The Ray White Economics team delivers independent research and analysis across residential, commercial, and rural property markets. Led by Chief Economist Nerida Conisbee, the team combines rigorous data analysis with deep market expertise to produce insights that are both credible and accessible.
ATOM GO TIAN Economist
JORDAN TORMEY Strategist
PAOLO SUMULONG Data Scientist
Drawing on one of Australia’s largest real estate datasets and a national network of market intelligence, the team tracks the trends, forces, and shifts shaping Australian real estate, helping buyers, sellers, and investors navigate with clarity and confidence.
NERIDA CONISBEE Chief Economist
VANESSA RADER Head of Research
KEVIN WANG Content Production Coordinator
ANITA VENKATESH Content Strategy and Production Lead
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