Sep 1, 2026 – 5.00amThe average value of a Sydney home has slumped by almost $100,000 since a February peak, and prices across major capital cities fell by about 1 per cent over the past month alone, as buyers steer clear of the market, spooked by Labor’s changes to tax concessions and three interest rate rises.The falls come amid warnings that a nationwide property downturn has become entrenched, and new data that shows pessimism seeping into other parts of the economy, with a slowdown in credit card spending and falling traffic at major retailers such as Harvey Norman and JB Hi-Fi.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Slump in housing prices now entrenched across nation’s capitals
In Sydney, the average residential property is now worth almost $100,000 less than at a February peak, with rate rises and Labor’s tax changes taking a toll.
122 words~1 min read
