Australian Home Prices Fall 1.2% in October

2026-11-02 09:28 By Joana Ferreira 1 min. read

Australia’s Cotality Home Value Index declined 1.2% month-on-month in October 2026, extending the downturn and leaving home values 6.7% below their March 2026 record high.

The decline spread across more capital cities and regional markets, as affordability constraints, higher interest rates, elevated living costs and weaker consumer sentiment continued to erode purchasing power and dampen buyer demand.

Among the major cities, Brisbane and Perth recorded the steepest monthly declines, with prices falling 2.0% and 1.7%, respectively.

However, the correction remained more pronounced in Sydney, where values dropped a further 1.6% in October, leaving them 9.4% lower year-on-year.

Melbourne also continued to experience significant annual declines, with prices down 7.6% over the year, despite a milder monthly fall of 0.8%.

Adelaide remained relatively resilient compared with other major markets.

Although home values declined 1.2% in October, they remained 3.7% higher than a year earlier.



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Australian Home Prices Fall 1.2% in October
Australia’s Cotality Home Value Index declined 1.2% month-on-month in October 2026, extending the downturn and leaving home values 6.7% below their March 2026 record high. The decline spread across more capital cities and regional markets, as affordability constraints, higher interest rates, elevated living costs and weaker consumer sentiment continued to erode purchasing power and dampen buyer demand. Among the major cities, Brisbane and Perth recorded the steepest monthly declines, with prices falling 2.0% and 1.7%, respectively. However, the correction remained more pronounced in Sydney, where values dropped a further 1.6% in October, leaving them 9.4% lower year-on-year. Melbourne also continued to experience significant annual declines, with prices down 7.6% over the year, despite a milder monthly fall of 0.8%. Adelaide remained relatively resilient compared with other major markets. Although home values declined 1.2% in October, they remained 3.7% higher than a year earlier.
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