How far property prices fell in the past – and how this year compares
Property values in Sydney and Melbourne have fallen by over 3.5% during the current downturn, with experts suggesting further declines are likely until interest rates are cut. Historical data shows that while some downturns are short, others can last up to two years.
Why it matters
The housing market is a critical indicator of economic health in Australia, and these trends impact household wealth and consumer confidence.
Property News Property prices How far property prices fell in the past – and how this year compares Elizabeth Redman July 15, 2026 — 5:00am
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Share A A A Home values have fallen by more than 3.5 per cent in Sydney and Melbourne since this property downturn began, and experts warn the trend could have longer to run.
Before this year, Australia has recorded 10 national property downturns in a little over four decades, of which seven lasted less than a year and three lasted longer, Cotality figures show.
This time, prices are tipped to keep falling until any sign emerges of an interest rate cut, which could be some time away.
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