In the News · Money · Australia
Australian Home Values Fall for a Seventh Month, with Brisbane and Perth Now Leading the Slide
National home values dropped 1.2% in October, Cotality says, and capital-city values are now 8.1% below their March peak, close to the steepest fall in 40 years. A fifth rate rise this year could come on Tuesday.
Published Nov. 2, 2026, 08:53 GMT
Last updated: 2 Nov 2026References
The numbers
Cotality's Home Value Index for October, published on Monday 2 November:
- National: down 1.2% in the month, the seventh fall in a row. Values are 6.7% below the March 2026 peak, about A$63,400 off the median dwelling.
- Combined capital cities: down 1.4% in the month and 8.1% since March.
- Sales: about 23% lower in the three months to October than a year earlier.
- Time to sell: a median 39 days, the longest since August 2020. The average vendor discount is 4.7%, the largest since May 2019.
City by city, October
| City | Change in October | Median value |
|---|---|---|
| Brisbane | -2.0% | $1,018,401 |
| Perth | -1.7% | $942,018 |
| Sydney | -1.6% | not given |
| Adelaide | -1.2% | $916,860 |
| Melbourne | -0.8% | not given |
| Canberra | -0.7% | not given |
Median values for Brisbane, Perth and Adelaide as reported by Smart Property Investment from Cotality data.
Why the slide moved north and west
Brisbane and Perth had the biggest gains of the past six years, and now the sharpest falls. Cotality's head of research Gerard Burg says both went from "a very tight market to a very loose market" during 2026: Brisbane listings are about 25% above the five-year average, after being 45-50% below it at the start of the year. Investors have also been selling after the federal tax changes, according to Cotality and the PIPA investor survey.
A record within reach
The largest peak-to-trough fall for the capitals in the past 40 years is 8.2%, Mr Burg told Smart Property Investment. At 8.1% now, "we would expect next month to see the largest downturn on record". Morgan Stanley forecasts falls of up to 15% from the peak.
Keep it in proportion
Most owners are still well ahead. Cotality's research director Tim Lawless notes that even a 20% fall from Perth's record high would only take values back to mid-2025 levels.
What it means for you
- Buying: you have more choice and more room to negotiate than a year ago. Get pre-approval at the higher rate the RBA may set on Tuesday, not today's.
- Selling: expect a longer campaign and price for the market you are in, not the one in March.
- Renting: vacancy rates are rising and rent growth slowing, Cotality says, which gives tenants a little more leverage at renewal.
The Reserve Bank announces its decision at 2:30pm AEDT on Tuesday 3 November. Our guide to what a rise would cost your mortgage has the repayment maths.
How we wrote this: our staff read the reporting listed below, checked the facts against more than one source where possible, and wrote this piece in our own words. Anything not confirmed is labelled. Spotted a mistake? Tell us.
