Arabic version: انخفاض أسعار المنازل في العواصم الأسترالية عن ذروة مارس
According to The Guardian, residential property prices across Australia’s eight capital cities have fallen by an average of 2.5% from their most recent peak in March, based on data published by Cotality and Proptrack.
The declines were larger in Sydney and Melbourne, where prices have dropped 5.6% and 5.7% respectively and began falling earlier. Prices had not yet started to decline in Perth, Hobart or Darwin, and had not fallen on average outside the capital cities.
Major banks expect capital-city prices to be flat to down 5% during 2026, with Sydney and Melbourne projected to see declines ranging from 3% to 10%. Other forecasts put a nationwide fall this year at between 5% and 10%.
Despite the recent movement, prices remain substantially higher than earlier periods. Average prices in the eight capitals are up 47.7% from early-pandemic lows, 144% from lows during the 2008-09 global financial crisis, 365% since the start of the century and 1,007% over 40 years.
The article notes that a 10% fall would still leave the total value of Australian residential real estate above $11tn, compared with $2.6tn in mortgage debt secured against residential property. Saul Eslake argues that the more modest declines now anticipated could improve housing affordability and access to home ownership, while no forecasts point to the much larger falls that could threaten broader economic or financial stability.
