Jun 25, 2026 – 5.00amSydney house prices could fall by as much as $122,000 in the 2027 financial year as the combination of successive rate rises, the high cost of living and Labor’s property tax changes spook buyers across the country, according to Domain.Houses at Sydney’s top end are expected to take the biggest hit, while Melbourne’s house prices could slip by as much as $84,000 and potentially push the median below $1 million for the first time since 2021, says the listings agency owned by Nasdaq-listed CoStar Group.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles