'Australian dwelling prices August'

中文标题

澳大利亚住宅价格 8月

Westpac / Westpac IQ09/01/2026updated 10/17/2026

Multiple economies

Citable research brief

Core conclusion · Tlines extraction

Australia's dwelling price correction deepened in August 2026, with the national Cotality index falling 0.9% m/m, following downward revisions to previous months. Prices are now 3.6% below their March peak, and annual growth slowed to 2.7%. Declines are broadening across cities, with Sydney and Melbourne leading the downturn. Sales volumes continue to fall, though preliminary data suggest some stabilization in the largest markets. Westpac warns of potential 'overshoot' near term, especially if seasonal tailwinds prove insufficient or if interest rates rise.

Institution: Westpac / Westpac IQ
Published: 09/01/2026
Research topic: Not explicitly stated
Time horizon: August 2026

Key arguments

Price correction is broadening: 93% of capital city suburbs recorded falls.
Sydney and Melbourne are experiencing more pronounced declines, with prices down 4.6%yr and 4.7%yr respectively.
Seasonal factors have accentuated weakness; the cumulative decline over Jun-Aug is 3.1% NSA but 2.5% SA, with a typical tailwind in Sep-Nov.
Sales volumes are falling rapidly but preliminary estimates suggest some stabilization at low levels, especially in Sydney and Melbourne.
Downward revisions to previous price data indicate a faster and deeper correction than initially reported.
Risk of 'overshoot' in prices near term, particularly if interest rates rise or seasonal support fails to materialize.

Key numbers

National home value index (Aug): -0.9% m/m
Annual growth (Aug): +2.7% yr
Decline from peak (Mar 2026): -3.6%
Sydney prices (Aug): -1.4% m/m, -4.6% yr
Melbourne prices (Aug): -1.1% m/m, -4.7% yr
Brisbane prices (Aug): -1.0% m/m, +10.8% yr
Perth prices (Aug): -0.8% m/m, +15.6% yr
Adelaide prices (Aug): -0.8% m/m, +8.6% yr

Main risks

Potential overshoot in prices if seasonal tailwinds prove insufficient or interest rates rise.
Downward revisions to price data could continue, indicating deeper correction.
Sales volumes may not stabilize, leading to further price declines.
Broader economic downturn or unexpected tightening could exacerbate the correction.

Corresponding source evidence

Sydney and Melbourne continue to see more pronounced declines with prices now down 4.6%yr and 4.7%yr respectively.
• Preliminary estimates show the number of sales, in rolling 3mth terms, down 6.3%qtr and 15.2%yr.
Preliminary estimates of turnover show rolling 3mth volumes down 6.3%qtr in August and 15.2%yr.

Context: the conclusion is Tlines' automated extraction, not the institution's wording. Quoted evidence is publisher wording. Scope and date must travel with the conclusion.

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