2025 Year in Review

As we begin 2026, our 2025 Year in Review provides an opportunity to reflect on a year that delivered solid outcomes for investors, despite periods of volatility, policy uncertainty and geopolitical tension.

This report looks back at the major market and economic developments that shaped investment conditions throughout 2025, offering a perspective on how markets responded as the year unfolded.

2025 Year in Review: key themes from the year

Over 2025, global equity markets recorded strong gains, supported by resilient economic activity, easing inflation pressures and continued investment in structural growth areas such as artificial intelligence.

While markets experienced bouts of volatility — often driven by political developments, central bank decisions and geopolitical events — underlying business fundamentals remained supportive. Market leadership also broadened beyond a narrow group of large technology stocks, with a wider range of sectors and regions contributing to returns.

In Australia, equity markets delivered results broadly in line with long-term averages, though performance varied across sectors. Resources and gold-related assets benefited from higher commodity prices, while parts of the healthcare sector remained under pressure.

Access the full report

Our 2025 Year in Review provides a detailed month-by-month overview of market performance, economic conditions and key themes that influenced investment markets over the year.

Read the full 2025 Year in Review report here.

Closing

While the outlook for 2026 suggests returns may be more moderate than those seen in 2025, the broader environment remains constructive. A diversified, long-term approach remains important as markets adjust to changing economic and policy conditions.

If you’d like to discuss how the 2025 Year Review impact your long-term investment approach, our team is here to help.

If you missed it, our December 2025 Quarter Investment Insights explores the forward-looking risks and opportunities shaping the year ahead.

Middleton Financial Planning Pty Ltd is a Corporate Authorised Representative (No. 450278) of Matrix Planning Solutions Pty Limited ABN 45 087 470 200 AFSL No. 238256. This document provides general advice only and not personal financial advice. It does not take into account your objectives, financial situation or needs. Before acting or making any investment decision, you should consider your personal financial situation or needs, consult a professional adviser, and consider any applicable disclosure documents. 

Information in this document is based on sources believed to be reliable, but Middleton Financial Planning does not guarantee its accuracy. All opinions expressed are honestly held as at the applicable date. Neither the information, nor any opinion expressed, constitutes an offer, or invitation, to buy or sell any financial products. Middleton Financial Planning does not accept any liability to any person or institution who relies on this document and the information it contains and shall not be liable for any loss or damage caused to any person in respect of this document and the information it contains. 

Quilla Consulting Pty Ltd (Quilla) holds AFSL 511401. This report contains information that is confidential and proprietary to Quilla. You must not use this document, nor the information in it, for any purpose other than that for which Quilla agreed to provide it to you. You must not copy, modify, sell, distribute, adapt, publish, frame, reproduce or otherwise use any of the information in this document without the prior written consent of Quilla.