{"id":527014,"date":"2026-07-01T04:35:16","date_gmt":"2026-07-01T04:35:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/527014\/"},"modified":"2026-07-01T04:35:16","modified_gmt":"2026-07-01T04:35:16","slug":"house-prices-fall-in-four-capital-cities-as-sydney-values-drop-nearly-50000-this-year-housing","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/527014\/","title":{"rendered":"House prices fall in four capital cities as Sydney values drop nearly $50,000 this year | Housing"},"content":{"rendered":"

House prices are now falling in four capital cities with the Adelaide<\/a> market beginning to slide in June, while Sydney values have dropped by $48,000 since the start of the year.<\/p>\n

Data from Cotality, released on Wednesday, showed Sydney and Melbourne<\/a> recorded their biggest one-month decline in values since August 2022, falling 1.2% and 1% respectively.<\/p>\n

Sydney median home prices have fallen $48,000 since January and were now just $3,000 above where they were in June 2025, according to Cotality.<\/p>\n

Melbourne\u2019s median prices were now $7,000 below where they were in June 2025. In Canberra<\/a>, prices were $8,000 below January levels \u2013 but still $25,000 above where they were a year earlier.<\/p>\n

Adelaide home prices had risen for 15 consecutive months, including a 15.4% rise in the last year. But prices fell in the second half of June after a modest rise, Cotality\u2019s daily data shows<\/a>.<\/p>\n

Table showing home price changes in Australia’s capital cities<\/a><\/p>\n

Interest rates have risen three times since February and the government\u2019s tax reforms have reduced property investors\u2019 borrowing capacity, weighing down housing demand.<\/p>\n

The Reserve Bank board left interest rates on hold in June after being caught off-guard by the rapid slowdown, according to minutes of its meeting published on Tuesday.<\/p>\n

More than half of homes taken to auction are not selling, with national clearance rates holding below 50% since the end of May.<\/p>\n

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Luke Banitsiotis, Ray White\u2019s chief auctioneer for Victoria and Tasmania, said buyers were still showing up to auctions but many sellers were unwilling to drop their prices.<\/p>\n

\u201cYou are still able to sell,\u201d Banitsiotis said. \u201cIt\u2019s probably just at a different price point than you were able to do two months ago.\u201d<\/p>\n

Overall, home sales have slowed. According to Cotality, the total number of sales in capital cities in the three months to June was 16.2% down on the same period last year.<\/p>\n

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Banitsiotis said homebuyers were waiting for the perfect opportunity or for a big discount.<\/p>\n

\u201cThere\u2019s ones that are there and will move if it\u2019s the right property, but \u2026 there\u2019s others going, \u2018well, if this gets worse, maybe we\u2019ll get it for 5% cheaper than it is now,\u2019\u201d he said.<\/p>\n

Banitsiotis said homes priced under $1m were still selling quickly but selling higher-priced properties had become a \u201chard slog\u201d.<\/p>\n

Markets were also stalling in Perth \u2013 where prices rose nearly 24% in the last year but just 0.7% in June \u2013 and in Brisbane, which recorded a 17.4% annual median price rise but just 0.3% for June, Cotality reported.<\/p>\n

The two cities also saw their estimated prices in May revised down by over $10,000, as more data revealed the depth of the slowdown.<\/p>\n

Cotality did not predict a sharp price slump in its report, saying: \u201cThe most likely path from here is a further loss of momentum and a gradual drift lower in housing values, rather than a sharp national correction.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"House prices are now falling in four capital cities with the Adelaide market beginning to slide in June,…\n","protected":false},"author":2,"featured_media":527015,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-527014","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/527014","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=527014"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/527014\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/527015"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=527014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=527014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=527014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}