Australia poll finds majority favour falling house prices

Three recent opinion polls in Australia show a sharp shift in public sentiment on housing. The latest Resolve poll reported that 61% of respondents now believe house prices need to drop, while only 9% oppose a decline. Support for price reductions spans all age, income and voting groups, with 14% of respondents comfortable with a fall of 20% or more.

The findings contrast with a longstanding political consensus that house prices should keep rising. Prime Minister Anthony Albanese, Treasury Minister Jim Chalmers and Housing Minister Clare O’Neil have discussed reforms to the housing system, but have avoided targeting price cuts directly. The budget’s changes to negative‑gearing and capital‑gains tax are expected to slow price growth by about 2%. Liberal MP Andrew Bragg is the sole major‑party voice urging that entry‑level prices must fall, aligning with the new public mood.

The polls suggest growing voter pressure for policy that tackles housing affordability, signalling a potential rethink of Australia’s long‑held “housing theory of everything”.