House values drop in all capital cities for first time in 15 years, Domain says
Australian house prices have fallen across every capital city for the first time in 15 years. Experts attribute the downturn to rising interest rates, lower market confidence, and cost-of-living pressures.
Why it matters
This marks a significant shift in the Australian housing cycle, signaling a cooling market that favors buyers over sellers.
Australia's most valuable homes are falling the most in value. ( ABC News: Charlie Mclean )
House prices have fallen across every capital city for the first time in 15 years, Domain reports.
Data shows Australia's most expensive homes have recorded the biggest drops this year, while lower-value homes have remained largely stable.
Experts say rising interest rates and lower market confidence are driving the downturn.
Link copied Share Share article House prices have fallen 4.7 per cent, the steepest quarterly drop on record, according to new data from Domain.
Prices dropped in every capital city in the September quarter, the first time in 15 years and only the second time on record.
The real estate platform's data showed the sharpest decline was in Perth, where prices dropped 7.4 per cent.
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