Australian house prices fell a record 4.7% in the September quarter of 2026, according to Domain, with prices falling in every capital city for the first time in 15 years and only the second time ever. Perth recorded the sharpest drop at 7.4%, while Sydney's median fell 4.7% to $1.66 million, a two-year low, and Melbourne posted its largest quarterly fall in four years. Housing Minister Clare O'Neill described the movement as cyclical, while many economists attribute the falls mainly to the Reserve Bank hiking the cash rate to its highest level in 15 years. Domain's Nicola Powell expects prices could keep falling for many months until an interest rate cut, which she sees as unlikely before the latter part of next year.
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AUD/USD
▼ Likely negativeRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/21/2026 | 0.70288 |
| Change that session | +0.35% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- House prices plummet as Labor points to bigger picture
Australian house prices fell a record 4.7% in the September quarter 2026, according to Domain, with every capital city recording a drop for the first time in 15 years. Perth had the steepest fall at 7.4%, while Sydney's median fell to $1.66 million, a two-year low. Economists have largely blamed the Reserve Bank's rate hikes, which took the cash rate to a 15-year high, as Labor's tax changes do not take effect until July 2027. Housing Minister Clare O'Neill described the downturn as cyclical and defended the government's policies, while Domain's Nicola Powell said prices could keep falling for months and confidence is unlikely to recover until interest rates are cut, possibly late next year.
- House prices plummet as Labor points to bigger picture
Australian house prices fell a record 4.7% over the September quarter, according to Domain's report, with prices down in every capital city for the first time in 15 years; Perth had the sharpest drop at 7.4%. Sydney's median house price fell 4.7% to $1.66 million, a two-year low, while Melbourne recorded its largest quarterly fall in four years. Housing Minister Clare O'Neill described the movement as part of the market's cyclical nature, while economists have largely attributed the falls to the Reserve Bank's rate hikes to a 15-year high; the government's tax changes do not take effect until July 2027. Domain's chief residential economist Nicola Powell said prices could keep falling for months, as buyer confidence is unlikely to recover until interest rates are cut, a prospect she sees in the latter part of next year.
- House prices plummet as Labor points to bigger picture
Domain's September Quarter 2026 House Price report shows house prices fell across every capital city for the first time in 15 years, the second time ever, with a record 4.7 per cent national drop over the quarter. Perth recorded the sharpest fall at 7.4 per cent, while Brisbane and Adelaide also logged their steepest falls on record. Sydney's median house price fell 4.7 per cent to $1.66 million, a two-year low, and Melbourne posted its largest quarterly fall in four years. Housing Minister Clare O'Neill said the movement reflected the cyclical nature of the market, while economists largely attributed the falls to the Reserve Bank lifting the cash rate to its highest level in 15 years, since Labor's tax changes do not take effect until July 2027. Domain's Nicola Powell said prices could keep falling for months, with confidence unlikely to recover before a rate cut, which she expects in the latter part of next year.
- House prices plummet as Labor points to bigger picture
Australian house prices fell a record 4.7% in the September quarter, with every capital city declining for the first time in 15 years, according to Domain. Perth recorded the sharpest drop at 7.4%, while Sydney's median price fell to $1.66 million, a two-year low. Housing Minister Clare O'Neill said the movement reflected the market's cyclical nature and called comparing only the last six months unfair. Economists have largely blamed the falls on the Reserve Bank's cash rate hikes to a 15-year high, as the government's tax changes do not take effect until July 2027. Domain's Nicola Powell said prices could keep falling for months, with buyer confidence unlikely to recover until interest rate cuts arrive, perhaps late next year.
- House prices plummet as Labor points to bigger picture
Domain's September quarter 2026 report shows house prices fell in every Australian capital for the first time in 15 years, with a record national drop of 4.7% over the quarter. Perth had the steepest fall at 7.4%, while Sydney's median house price slipped to $1.66 million, a two-year low, and Melbourne recorded its largest quarterly fall in four years. Housing Minister Clare O'Neill described the downturn as part of the market's cyclical nature, noting that the government's tax changes do not take effect until July 2027. Economists have largely blamed the falls on the Reserve Bank's rate hikes to a 15-year high. Domain's Nicola Powell expects prices may keep falling for months, with buyer confidence unlikely to recover until interest rates are cut, a prospect she sees in the latter part of next year.
- House prices plummet as Labor points to bigger picture
According to Domain's September Quarter 2026 House Price report, house prices fell across every Australian capital city for the first time in 15 years and only the second time on record. National house prices dropped a record 4.7% over the quarter, with Perth falling the most at 7.4%, while Brisbane and Adelaide recorded their steepest falls on record. Sydney's median house price fell 4.7% to $1.66 million, a two-year low, and Melbourne posted its largest quarterly fall in four years. Housing Minister Clare O'Neill called the movement cyclical and said house-price growth needs to slow, while economists mostly attribute the falls to the Reserve Bank's rate hikes to a 15-year high. Domain's Nicola Powell said prices could keep falling for months and that confidence is unlikely to change until an interest rate cut, which she expects in the latter part of next year.
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