Australia’s property market fractures as Sydney and Melbourne prices begin to fall
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Australia's property market is showing signs of fracture as house prices in Sydney and Melbourne have begun to fall. The decline is attributed to rising economic pressures, interest rate hikes, and a fuel crisis, with other capital cities potentially following suit.
Australia's $12 trillion housing market is facing a turning point. House prices in Sydney and Melbourne have fallen in the first quarter of 2026. Sydney prices dropped 0.02% and Melbourne prices dropped 0.06%. Other capital cities, such as Perth and Brisbane, have seen growth, but this may not continue if unemployment rates rise. Economists predict further price drops in Sydney and Melbourne, with potential effects on other cities.
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