{"id":736060,"date":"2026-07-01T02:54:11","date_gmt":"2026-07-01T02:54:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/736060\/"},"modified":"2026-07-01T02:54:11","modified_gmt":"2026-07-01T02:54:11","slug":"property-prices-are-falling-but-sellers-havent-got-the-message-yet","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/736060\/","title":{"rendered":"Property prices are falling, but sellers haven’t got the message yet"},"content":{"rendered":"

\"AustralianHouses_1800x1000\"<\/p>\n

Property prices dropped 0.4% nationwide last month, driven by major falls in Sydney and Melbourne. Regional property prices grew 0.3%.
\n Affordability issues and high rates may keep prices down for the rest of the year.
\n What’s next: Auction clearance rates are under 50%, suggesting sellers are setting prices too high.<\/p>\n

Last month, Australian property prices saw 0% month-on-month growth<\/a>. Now prices are going backwards.<\/p>\n

Cotality’s monthly Home Value Index saw a monthly price fall of 0.4%, the largest monthly drop since late 2022.<\/p>\n

The combined capital cities saw a drop of 0.6%, while regional markets grew by 0.3% and are slowing.<\/p>\n

\"Cotality<\/p>\n

Cotality Home Value Index figures, June 2026. Image: Cotality<\/p>\n

The Sydney-Melbourne-ACT downturn<\/p>\n

Sydney and Melbourne are now seeing sustained property price falls. Prices in Sydney fell 1.2% over the last month, and 3.2% for the quarter.<\/p>\n

Melbourne prices fell 1.0% monthly and are now down 2.6% in the last three months.<\/p>\n

It’s worth keeping in mind that the median Sydney property still sells for over $1.2 million.<\/p>\n

Melbourne is a different story completely. The median property now sits at just over $800,000. It’s the third cheapest capital city after Darwin and Hobart.<\/p>\n

Canberra prices fell 0.6% for the month.<\/p>\n

\"Unloan<\/p>\n

Home Loans<\/p>\n

Get $1,000 with Unloan<\/p>\n

Ends 31 Jul 2026<\/p>\n

Refer a friend<\/p>\n

Share your unique link (below) with a friend and get up to $50 once they qualify for their reward. Learn more<\/a><\/p>\n

Want to earn up to $50?<\/p>\n

Finder Members can earn rewards for referring a friend once they qualify for their reward!<\/p>\n

Become a Finder Member<\/a><\/p>\n

\"\"<\/p>\n

Copy link<\/p>\n

Messenger<\/p>\n

WhatsApp<\/p>\n

Facebook<\/p>\n

X<\/p>\n

Messages<\/p>\n

Email<\/p>\n


\nSlow growth, no growth elsewhere<\/p>\n

Even stronger markets like Brisbane are slowing (0.3% growth last month). Adelaide saw 0% growth.<\/p>\n

Regional markets are still seeing growth (0.3% last month), but this is slowing too.<\/p>\n

It’s the same in some of the smaller cities, where strong growth is slowing down. Perth prices grew 0.7% last, but are still up an eye-watering 23.9% annually.<\/p>\n

Hobart recorded 0.6% monthly growth, while Darwin is the standout at 1.4% monthly growth.<\/p>\n

Have sellers got the message yet?<\/p>\n

Auction clearance rates have been below 50% since May. This suggests sellers are going to auction with inflated expectations.<\/p>\n

“Such low clearance rates indicate a mismatch between buyer and seller pricing expectations. Buyers now have more stock to choose from and less urgency in their decision-making,” said Cotality research director Tim Lawless.<\/p>\n

And while the stock of homes for sale is high, Lawless also notes that this is not simply because there are more homes on the market.<\/p>\n

“It’s a symptom of less demand in the market, which has led to an accumulation of advertised stock.”<\/p>\n

Will property prices go even lower?<\/p>\n

While you should never bet against the indefatigable Australian property market, multiple factors make a sustained price fall seem likely.<\/p>\n

Tax changes in the May budget make property investing less appealing, driving competition for properties down.<\/p>\n

The cost of living remains a major challenge and means buyers have less money at the end of the day for property.<\/p>\n

Interest rates are at a 2-year high, and if they increase any further (which they could if high inflation persists<\/a>) this will make it even harder for borrowers to stretch their budgets.<\/p>\n","protected":false},"excerpt":{"rendered":"Property prices dropped 0.4% nationwide last month, driven by major falls in Sydney and Melbourne. Regional property prices…\n","protected":false},"author":2,"featured_media":736061,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101],"class_list":["post-736060","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/736060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=736060"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/736060\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/736061"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=736060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=736060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=736060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}