By STEFAN BRADLEY
HOME prices in the Latrobe-Gippsland area (SA4) are experiencing a slower rate of growth compared to the rest of regional Victoria, according to the recent PropTrack Home Price Index March 2026.
Prices across regional Victoria hit a new peak in March, despite a modest growth.
Regional Victorian home prices grew 0.1 per cent over the month, to sit 7.3 per cent higher than March 2025.
This pushed regional Victoria’s home price up to $600,000 in March – an additional $48,600 of value added compared to a year ago.
Latrobe-Gippsland saw a quarter-on-quarter growth of 0.80 per cent, a year-on-year growth of 5.77 per cent and median home price for March to be $552,068.
“Home prices in the Latrobe-Gippsland are still up on year ago levels, but momentum has clearly softened. Houses continue to drive the region’s annual growth, though house prices fell slightly in March, while units are showing very modest growth,” Eleanor Creagh, REA Group senior economist said.
“The slowdown in growth and small price falls point to a market that is moving into a slower, more subdued phase. The slight monthly falls suggest higher interest rates are weighing on demand and borrowing power.
“While regional Victoria prices are still rising, Latrobe-Gippsland is lagging behind. Growth has slowed more sharply and prices have edged down slightly in the month of March, suggesting the impact of higher interest rates is weighing on buyer demand in the Latrobe-Gippsland region.”
National home prices increased 0.3 per cent in March, taking the national median home value to $908,000. Prices are now 9.4 per cent higher than a year ago, adding around $94,800 to the value of the median home.
Regional prices climbed 0.4 per cent in March and were up 11.0 per cent year-on-year. Regional growth has outpaced the capitals over the past year (11 per cent versus 8.8 per cent) and five years (57 per cent versus 39 per cent), supported by relative affordability and lifestyle appeal.
“National home prices rose again in March, extending the current upswing, but growth is slowing,” Ms Creagh said.
“Recent rate rises will weigh on buyer sentiment, borrowing capacity, and erode already poor affordability, though a resilient labour market, population growth and first-home buyer support continue to underpin demand against limited supply.
“Overall, the market is shifting into a slower-growth phase, with a rising likelihood of flat or declining prices in some markets in the months ahead, even as structural supply shortages cushion the moderation.”
