Australian house prices decline across major cities

Housing values in Australia are turning lower in several of the country’s biggest markets. In the latest 28‑day period, Brisbane fell 0.5% and Adelaide slipped 0.3%, while Perth recorded only a modest 0.3% gain – its weakest rise in three years. Sydney and Melbourne also posted declines of 1.2% and 1.1% respectively, putting four of the five largest cities on track for a national downturn not seen since late 2022.

Analysts link the slide to higher interest rates and federal budget measures that removed negative‑gearing benefits and altered capital‑gains tax treatment, unsettling investors. Auction clearance rates in Queensland have dropped below 40%, and price drops of $50,000‑$100,000 have been recorded in some inner‑city Brisbane suburbs. The combined effect is a broader correction after a six‑year period of rapid price growth.