House prices fall 7% in Sydney and Melbourne as rate rises continue
House prices have fallen 5% nationally since April, with Sydney and Melbourne down 7%.
Tax policy changes announced in the May budget have triggered a bigger housing decline than expected, according to HSBC chief economist Paul Bloxham. National prices have fallen 5% from their April peak, with Sydney and Melbourne each down 7%.
Regional areas have held up better. Rate cuts are not expected until the second half of 2027.
What matters most is buying and selling in similar conditions. Those in declining metro markets may want to wait.
- 5 per cent
- National price fall since April
- 7 per cent
- Sydney and Melbourne decline
- second half of 2027
- When rate cuts expected
- 2 to 3 per cent
- Inflation target
Why it mattersCouples planning to downsize need to know when to move. Waiting for a market bottom is risky; prices where you sell and where you buy move together.
AustraliaAustralians over 60 planning to retire and downsize face a tougher decision about timing. Regional property holders have more cushion than those in Sydney and Melbourne.
✓ Claims checked against the source. checked 8 d ago
