House prices slide across Australia as Middle East conflict and tax changes begin to bite
Australian housing prices have begun to decline across major cities like Brisbane, Sydney, and Melbourne following a period of historic growth. Factors contributing to the downturn include rising interest rates, tax changes for investors, and geopolitical instability.
Why it matters
The cooling of the Australian property market reflects broader economic pressures and could have significant implications for household wealth and national economic stability.
Brisbane’s median price has fallen about $8,000 since May, bringing an end to a historic 40-month incline. Photograph: Darren England/AAP Brisbane’s median price has fallen about $8,000 since May, bringing an end to a historic 40-month incline. Photograph: Darren England/AAP Housing House prices slide across Australia as Middle East conflict and tax changes begin to bite Cotality data shows a drop in Brisbane, Adelaide and Perth, as nation’s median home price falls about $19,000 below its March peak
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Prefer the Guardian on Google House prices have fallen in Brisbane, Adelaide and Perth as the market downturn spreads across Australia.
New Cotality data, released on Monday, showed prices have fallen across most of the nation since May.
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