House prices are falling across every capital city for the first time in 15 years and the second time on record, according to figures from Domain’s September Quarter 2026 House Price report. House prices in Sydney are at a two-year low after falling 4.7% in the September quarter, to $1.66m. House prices in Melbourne have fallen for the third consecutive quarter, slumping 3.3% in the September quarter, but remains in the million-dollar club, marginally, with a media price of $1.014m after experiencing its largest quarterly house price fall in four years.
Perth recorded the sharpest drop, with house prices falling a record 4.7%, while Brisbane and Adelaide also logged their steepest quarterly house price falls on record. While the statistics show weakened confidence from buyers and vendors, the diminishing market has created the best start to spring for prospective purchasers, according to Powell. They expect the downturn to run as deep as 15% from peak to trough.
Extract — continue reading at the source.
