In the first month of FY25, we saw a divergent performance between shares vs. property markets.
The S&P/ASX 200 Index (ASX: XJO) soared 4.18% higher in July. The benchmark index reset its all-time high after breaking through the 8,000 mark for the first time ever.
Meantime, the national median home value rose by 0.5% in July.
CoreLogic said it was "clear momentum is leaving the cycle" despite headline growth continuing higher for an 18th consecutive month.
Three capital cities recorded price falls in July: Hobart (0.5%), Melbourne (0.4%), and Darwin (0.2%). Over the past three months, these three cities have lost 0.8%, 0.9%, and 0.3%, respectively.
This is largely due to an above-average number of homes for sale in each city. Meantime, the strongest capital city markets continued to rise because supply remains more than 30% below long-term averages.
Perth, Adelaide, and Brisbane once again delivered the highest home value growth. Home price medians rose in July by 2%, 1.8%, and 1.1%, respectively.
Apartment values are now rising faster than house values across most of the capital cities.
CoreLogic research director Tim Lawless said:
With stretched housing affordability, lower borrowing capacity and a lift in both investor and first home buyer activity, it's not surprising to see the unit sector outperforming for a change.
Home values in regional Western Australia surged by 1.3% in July. Regional South Australia was not far behind, with median prices lifting 0.9%, followed by regional Queensland, which saw a 0.7% uplift.
On the share market, some ASX stocks outperformed the benchmark considerably. One such share was a technology stock that smashed its peers with a 32% gain over the month.
Shares vs. property price growth in July
Here's how shares vs. property performed in terms of house price and share price gains last month.
| Property market | Median house price | Price growth last month | 12-month price growth |
| Sydney | $1,473,038 | 0.2% | 6.1% |
| Melbourne | $944,138 | (0.5%) | 0.2% |
| Brisbane | $966,825 | 1% | 15.2% |
| Adelaide | $830,609 | 1.6% | 15.1% |
| Perth | $808,038 | 2% | 24.7% |
| Hobart | $686,660 | (0.8%) | (2%) |
| Darwin | $588,327 | (0.1%) | 2.6% |
| Canberra | $984,894 | 0.1% | 3% |
| Regional New South Wales | $762,679 | 0.2% | 4% |
| Regional Victoria | $599,594 | (0.7%) | (1%) |
| Regional Queensland | $652,714 | 0.7% | 12% |
| Regional South Australia | $438,716 | 0.9% | 10.9% |
| Regional Western Australia | $533,424 | 1.3% | 19.2% |
| Regional Tasmania | $533,723 | (0.2%) | 0.8% |
| Regional Northern Territory | $447,479 | (0.4%) | (3.5%) |
Top 5 risers of the ASX 200 last month
The ASX 200 lifted 4.18% in July.
According to CommSec data, these 5 ASX 200 shares were the best-performing stocks.
| ASX 200 share | Share price growth |
| Iress Ltd (ASX: IRE) | 32.05% |
| Zip Co Ltd (ASX: ZIP) | 30.82% |
| Magellan Financial Group Ltd (ASX: MFG) | 21.38% |
| Coronado Global Resources Inc (ASX: CRN) | 21.01% |
| Insignia Financial Ltd (ASX: IFL) | 20.96% |
Why did Iress shares shoot 32% higher?
Iress is a financial services software provider. Last month, it upgraded its guidance for 1H FY24.
Investors love this sort of thing, hence the big share price gain.
The company expects adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) of between $65 million and $67 million compared to the $44 million reported for 1H FY23.
Iress will release its 1H FY24 results on 19 August.
The company is in the final stages of a transformation program that is due for completion in December.
