{"id":572575,"date":"2026-08-03T01:27:10","date_gmt":"2026-08-03T01:27:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/572575\/"},"modified":"2026-08-03T01:27:10","modified_gmt":"2026-08-03T01:27:10","slug":"australia-news-live-national-house-prices-fall-2026-commonwealth-games-ends-labor-finalises-news-bargaining-incentive-legislation","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/572575\/","title":{"rendered":"Australia news LIVE: National house prices fall; 2026 Commonwealth Games ends; Labor finalises News Bargaining Incentive legislation"},"content":{"rendered":"<p>Jim Chalmers said housing was a long-term investment and prices would rise in years to come as the national market experiences <a class=\"inline-link\" href=\"https:\/\/www.smh.com.au\/politics\/federal\/house-price-fall-accelerates-as-rate-rises-and-budget-policies-hit-20260731-p60kdj.html\" rel=\"nofollow noopener\" target=\"_blank\">its deepest downturn since Albanese came to office<\/a>. <\/p>\n<p>Related Article<a href=\"https:\/\/www.smh.com.au\/politics\/federal\/house-price-fall-accelerates-as-rate-rises-and-budget-policies-hit-20260731-p60kdj.html\" tabindex=\"-1\" class=\"sc-cba76dee-0 hdiTqm\" rel=\"nofollow noopener\" target=\"_blank\"><img decoding=\"async\" alt=\"While approvals for new homes are running at five-year highs, experts believe that is likely to be shortlived.\" loading=\"lazy\" src=\"https:\/\/www.newsbeep.com\/il\/wp-content\/uploads\/2026\/08\/6bf4aa2971d7ad4600565bf0b456df04cbaeeb37.jpeg\"  class=\"sc-d34e428-1 ioInpc\"\/><\/a><\/p>\n<p>Figures released by Cotality today show dwelling values in the nation\u2019s capitals dropped by 0.9 per cent through July, led by a steep fall in the value of houses in Sydney and Melbourne.<\/p>\n<p>\u201cThe budget assumptions were that over the course of the next couple of years, we will see prices continue to grow, but a bit more modestly than they have been, and obviously this is only the first couple of months of that two-year period,\u201d the treasurer told Radio National after Labor wound back the capital gains tax discount and negative gearing in its May budget.<\/p>\n<p>He said Cotality had also pointed to interest rates, higher fuel prices and cost of living as causes for the downturn, and said it was not uncommon for house prices to come off.<\/p>\n<p>\u201cIf you look over the past couple of decades, even if we\u2019ve had over that period, a period of extraordinary price growth, we\u2019ve still had in that two-decade period, I think at least seven times, where prices have come off,\u201d he said.<\/p>\n<p>\u201cInvestment in housing is a long-term investment. People don\u2019t make investments in housing from day to day or week to week, month to month, and so from time to time you will see movements in prices like these.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Jim Chalmers said housing was a long-term investment and prices would rise in years to come as the&hellip;\n","protected":false},"author":2,"featured_media":572576,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,184,85,46],"class_list":["post-572575","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-il","tag-israel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/572575","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=572575"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/572575\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/572576"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=572575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=572575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=572575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}