This iconic decade saw both hairstyles and property prices go big, really big.
In fact 1988 holds the record for the highest annual growth rate over the past four decades, with a whopping 31.2 per cent surge, according to Cotality’s recent trip down memory lane.
“Sometimes home values surge when you least expect it,” writes Cotality research director Tim Lawless.
“In 1988, with interest rates near 15 per cent and rising, Australian home values skyrocketed by 31 per cent.
“Fast forward to 2021, amid a global pandemic and closed borders, national values jumped almost 25 per cent.
“These standout years remind us that housing markets are influenced by more than just interest rates. Fiscal stimulus, credit availability, migration trends and economic shocks all play a role in shaping outcomes.”
The figures can provide an interesting perspective on today’s housing market. While affordability compared to income levels remains high, the interest rate environment is comparatively low to the highs of previous decades.
Annual growth remains strong in markets like Brisbane but the rate of growth has slowed from its most recent high.
The year 2025 ranked the 11th highest calendar year for growth across Australia over the past forty years.
Check out the top growth years over the past four decades:
- 1988: 31.2%
- 2021: 24.5%
- 2003: 18.1%
- 2001: 15.9%
- 1987: 15.3%
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