Brisbane and Sydney hit hardest by falling house prices as 5.2% shaved from Australian property values
News Source
β’Wed, 30 Sep 2026 15:00:51 GMT
π° What Happened
New Cotality data shows house prices fell again in September across Australia. National values are down 5.2% from their March peak. Brisbane dropped 1.5% in the month and Sydney fell 1.4%. Sydney values are now down 8.6% since March, about $112,000. Economists blame higher interest rates for pushing buyers out of the market.
π The Backstory
The Reserve Bank raised rates for the fourth time this year on Tuesday. That cut how much people can borrow. Canstar says the hikes trimmed $47,400 from the borrowing power of an average full-time worker. Prices had soared in Brisbane before the fall. Experts now expect a national drop of at least 10%, though they warn it could go deeper.
π― Why It Matters
Falling prices sound good for buyers, but they also hurt owners. Higher rates make home loans cost more each month for everyone repaying one.
New Cotality data shows house prices fell again in September across Australia. National values are down 5.2% from their March peak. Brisbane dropped 1.5% in the month and Sydney fell 1.4%. Sydney values are now down 8.6% since March, about $112,000. Economists blame higher interest rates for pushing buyers out of the market.
The Reserve Bank raised rates for the fourth time this year on Tuesday. That cut how much people can borrow. Canstar says the hikes trimmed $47,400 from the borrowing power of an average full-time worker. Prices had soared in Brisbane before the fall. Experts now expect a national drop of at least 10%, though they warn it could go deeper.
Falling prices sound good for buyers, but they also hurt owners. Higher rates make home loans cost more each month for everyone repaying one.