Jun 3, 2026 – 8.00pmInitial asking prices are falling, homes are being relisted at lower prices and buyers are winning bigger discounts on real estate as the housing market cools rapidly following the federal budget and higher interest rates.Buyers have been paying up to 5 per cent less than the original sale price for private treaty purchases across the capital cities in the past three months, an increase on the decade average of 3.3 per cent, according to data provider Cotality.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Asking prices drop as cooling market turns in buyers’ favour
Vendors are lowering their price guides and buyers are negotiating discounts as the post-budget sentiment weighs on an already sluggish housing market.
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