Australia’s housing market is cooling sharply, with median home prices declining across nearly all suburbs in the country’s major cities, according to new data. The slowdown is most pronounced in Brisbane, where values are dropping faster than in Sydney, as rising interest rates squeeze borrowing capacity. Nationally, prices have retreated 5.2% from their March peak, now matching levels seen a year earlier, signaling a broader market correction. The latest figures from Cotality highlight the growing impact of economic pressures on property values.
Cotality data shows median house prices fell in September as interest rates hit borrowing capacityGet our breaking news email, free app or daily news podcastHousing prices are falling in almost every suburb in Australia’s biggest cities, with values dropping faster in Brisbane than Sydney as the slowdown intensifies.Prices nationally have fallen 5.2% from their peak in March to where they were a year ago, Cotality data released on Thursday shows. Continue reading...
