Australian House Prices Fall in 4 Capitals as Sydney Sheds $48,000 This Year
Updated
Updated · The Guardian · Jun 30
Australian House Prices Fall in 4 Capitals as Sydney Sheds $48,000 This Year
2 articles · Updated · The Guardian · Jun 30
Summary
Cotality data showed prices falling in four capital cities in June, with Sydney down 1.2%, Melbourne off 1%, and Adelaide starting to slip after 15 straight months of gains.
Sydney’s median home price has dropped $48,000 since January and now sits just $3,000 above June 2025 levels; Melbourne is $7,000 below a year ago and Canberra is $8,000 below January.
Three rate rises since February and tax changes that cut investors’ borrowing capacity have weakened demand, while the Reserve Bank’s June minutes said policymakers were caught off guard by the rapid slowdown.
Auction conditions have deteriorated, with national clearance rates below 50% since late May and capital-city sales in the three months to June down 16.2% from a year earlier.
Perth and Brisbane are also losing momentum despite strong annual gains, and Cotality expects a gradual drift lower in housing values rather than a sharp national correction.