Arabic version: انخفاض أسعار المنازل الأسترالية في الأسواق الكبرى

According to The Guardian, Australian house prices have declined in Brisbane, Adelaide and Perth as a broader market downturn spreads. New Cotality data released on Monday showed prices had fallen across most of the country since May, leaving the national median home price at $928,000, about $19,000 below its March peak.

Brisbane’s median price has dropped by about $8,000 since May to $1.1m, matching its March level. The fall ended a 40-month run of rising dwelling prices that began in February 2023 and continued until June. Adelaide and Perth have each declined by about $4,000 from record highs reached in May, with median prices of $944,000 and $1.03m respectively.

Regional home values fell overall in June for the first time since January 2023. In July, regional values either declined or were flat in every state. Sydney, Melbourne and Canberra median prices have fallen by $69,000, $39,000 and $22,000 respectively since February, though prices remain above January 2025 levels in Sydney and Melbourne and above September 2025 levels in Canberra.

The market has slowed since February, when the Reserve Bank of Australia began raising interest rates and the US war on Iran began. Demand weakened further after the May federal budget reduced property investors’ tax concessions. NAB reported a 15% fall in home loan applications between the first three months of 2026 and the June quarter, while Westpac, Equifax and Loan Market also reported lower mortgage demand.

RBA governor Michele Bullock said she was surprised by the fall in prices and demand since May, describing interest rates as only “a bit” restrictive. Cotality’s preliminary figures showed auction clearance rates rose from a June low of 47.4% to 53.6% at the weekend, while new listings declined in July as sellers delayed entering the market. The RBA is not expected to raise rates at its next board meeting on 11 August.