House prices falling in every Australian capital city for first time in 15 years
Australian capital cities are experiencing a synchronized decline in house prices for the first time in 15 years. Factors such as high interest rates, cost-of-living pressures, and tax policy changes have contributed to a cooling property market.
Why it matters
The downturn in the Australian housing market signals potential broader economic cooling and shifts in consumer confidence.
House prices in Melbourne have fallen for the third consecutive quarter but remains in the million-dollar club, with a media price of $1.014m. Photograph: Diego Fedele/AAP House prices in Melbourne have fallen for the third consecutive quarter but remains in the million-dollar club, with a media price of $1.014m. Photograph: Diego Fedele/AAP Housing House prices falling in every Australian capital city for first time in 15 years House prices in Sydney are at a two-year low after falling 4.7% in the September quarter, to $1.66m according to Domain report
Prefer the Guardian on Google House prices are falling across every capital city for the first time in 15 years and the second time on record, according to figures from Domain’s September Quarter 2026 House Price Report.
House prices in Sydney are at a two-year low after falling 4.7% in the September quarter, to $1.66 million.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in