Brisbane and Sydney hit hardest by falling house prices as 5.2% shaved from Australian property values
Summary
House prices in Australia’s largest cities are falling, with Brisbane and Sydney seeing the biggest drops. Overall, property values have fallen 5.2% from their peak in March, and experts expect prices to fall at least 10% due to recent interest rate increases.Key Facts
- Brisbane home prices dropped 1.5% in September, with every suburb recording lower prices since June.
- The median home price in Brisbane is now $1.05 million, down $59,000 since May.
- Sydney prices fell 1.4% in September and are down 8.6% from the March peak, about $112,000 less.
- Melbourne prices have dropped 7.2% since November 2025, losing around $63,000 in value.
- The Reserve Bank of Australia raised interest rates four times this year, making it harder for buyers to borrow money.
- Rate increases have reduced the borrowing power of an average wage earner by nearly $47,400.
- The Australian government’s first home loan deposit scheme has helped over 102,000 people buy homes since expanding.
- Economists warn prices could fall further, possibly by 10-15%, due to rising loan repayments, tax increases, and unemployment risks.
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