Brisbane\u2019s home prices dropped 1.5% in September, with every suburb in the city recording lower prices compared with June.<\/p>\n
The median Brisbane home was worth $1.05m, down by $59,000 since May. The Queensland capital had seen prices surge 18% over the preceding 12 months.<\/p>\n
Sydney median values dropped 1.4% in the month and were down 8.6% from their record high in March, the equivalent of a $112,000 drop. Just four Sydney suburbs held steady in recent months.<\/p>\n
Suburb table<\/a><\/p>\n Melbourne prices were down 7.2%, or $63,000, from November 2025. While a handful of suburbs have seen prices continue to rise, Joe Trucchio, a buyer\u2019s agent at Property Home Base, said the downturn had swept the city.<\/p>\n \u201cWe\u2019re fully into the spring buying carnival, and we haven\u2019t seen it pick up the way that it had in previous years,\u201d Trucchio said.<\/p>\n \u201cIt just takes some time and it takes some good news and right now we\u2019ve had a sequence of bad news.\u201d<\/p>\n Interest rates have become \u201cthe biggest conversation\u201d among hesitant buyers, Trucchio said. Comparison website Canstar has estimated this year\u2019s four hikes have cut $47,400 from the borrowing capacity of someone earning an average annual full-time wage of $108,650.<\/p>\n Sign up for the Breaking News Australia email<\/a><\/p>\n Housing prices would have to fall roughly 10% to offset a 1 percentage point increase in interest rates and no suburbs have reached that threshold.<\/p>\n However, Trucchio said dwellings on the cheaper end of the market<\/a> had garnered more interest as first home buyers regained confidence.<\/p>\n
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