Canberra property prices fall across all suburbs and all dwelling types
All ACT suburbs saw house and apartment prices fall in the past quarter, down $57,000 since the 2022 peak.
Canberra's property market has now turned negative in every suburb and for every dwelling type, according to the latest Cotality August Home Value Index. Houses dropped 1.1 per cent and apartments fell 1.3 per cent in the past month alone.
Since the peak in May 2022, values have fallen 6.3 per cent across the territory, a median decline of about $57,000. The median house price is now just more than $1 million, while apartments sell for a median of $582,245.
This marks the fifth consecutive month of declines. Nationally, property values fell for the sixth month in a row in August, with 97 per cent of capital city suburbs reporting drops.
The Reserve Bank's latest interest rate rise to its highest level since November 2015 adds pressure to buyers and borrowers.
- 6.3 per cent
- Value drop from peak
- $57,000
- Median decline since peak
- $1 million
- Median house price
- $582,245
- Median apartment price
Why it mattersFalling property values erode household wealth and may force some owners into negative equity, while rising mortgage costs add to household stress.
AustraliaCanberrans face lower home equity and higher borrowing costs, though first-time buyers may find better purchasing power if they can manage higher repayments.
✓ Claims checked against the source. checked 2 h ago
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