National property slump tracking for biggest fall in 40 years
House prices have fallen 5.2% and are tracking for at least a 10% decline, the biggest fall in 40 years.
Australian house prices have fallen 5.2% from their peak in March and are expected to drop at least 10%, the largest fall in 40 years. The decline is deeper in Sydney and Melbourne.
Renters who thought they would never own a home are now watching the market carefully, wondering if prices will fall far enough to make buying possible. Many first-home buyers are exploring options for the first time in years, with some already preparing to enter the market next year.
However, younger and low-income renters still face barriers, prices have not fallen far enough to help single people or those who cannot qualify for large loans. Some renters, especially older Australians, remain outbid by wealthier first-home buyer groups.
- 5.2% from March peak
- Current fall
- At least 10%
- Expected fall
- 40 years
- Biggest fall in
- Doubled
- Price increase since 2014
Why it mattersProperty price falls directly change whether ordinary Australians can escape renting and build wealth through home ownership.
AustraliaAbout 3 million Australian households are renting; this downturn changes real prospects for millions of people trying to buy their first home.
✓ Claims checked against the source. checked 2 h ago
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