Arabic version: انخفاض أسعار المنازل في جميع العواصم الأسترالية معاً

According to The Guardian, house prices are falling in every Australian capital city for the first time in 15 years and only the second time on record, based on Domain’s September Quarter 2026 House Price report.

Sydney house prices fell 4.7% in the September quarter to $1.66m, their lowest level in two years. Melbourne recorded its third consecutive quarterly decline, down 3.3% to a median price of $1.014m, after its largest quarterly fall in four years.

Perth posted the sharpest decline, with a record 4.7% fall in house prices. Brisbane and Adelaide also registered their steepest quarterly house price declines on record. Domain said the downturn had broadened geographically and across property types, with both houses and units falling.

Domain chief residential economist Nicola Powell said higher interest rates, continuing cost-of-living pressures and changes to housing investment tax policy were driving the reductions. She said homes were taking longer to sell, buyers had more room to negotiate and sellers had to set more realistic price expectations.

Powell said reduced borrowing capacity was stifling sales, while higher supply was creating opportunities for buyers with secure finances. She said confidence may not change until an interest rate cut, or signs that cuts are approaching, potentially in the latter part of next year. Morgan Stanley economists forecast the market would bottom out in the second half of 2027, with a peak-to-trough decline of as much as 15%.