Australian dwelling prices: Losing altitude

中文标题

澳大利亚住宅价格：失去高度

Westpac / Westpac IQ10/01/2026updated 10/17/2026

Multiple economies

Citable research brief

Core conclusion · Tlines extraction

The Cotality national home value index fell 1.1% in September, following downwardly revised declines of 1.2% in August and 1.4% in July. Annual growth flattened, leaving prices 5.2% below their March peak. Declines were widespread across major cities, led by Brisbane at 1.5% and Sydney at 1.4%. Preliminary rolling three-month sales estimates fell 3.9% qtr and 17.4% yr, though the pace of turnover decline has moderated from July's 8.6% qtr.

Institution: Westpac / Westpac IQ
Published: 10/01/2026
Research topic: Not explicitly stated
Time horizon: 2014

Key arguments

National home prices fell 1.1% in September, the fourth consecutive monthly decline.
Price declines are widespread, with all major capitals posting falls led by Brisbane and Sydney.
Annual growth has stalled and national prices sit 5.2% below their March peak.
Turnover declines are moderating from the rapid pace seen in July.

Key numbers

National home value index MoM (September): -1.1%
National prices vs March peak: -5.2%
Sydney prices YoY: -7%
Melbourne prices YoY: -6.2%
Sales rolling 3mth YoY: -17.4%

Main risks

Preliminary sales estimates may be revised.
The report attributes no cause to the price declines, so the drivers remain unspecified.
The moderation in turnover decline may not persist.

Corresponding source evidence

Annual growth stalled flat with prices nationally now 5.2% below their peak in March.
Sydney and Melbourne continue to see more pronounced declines with prices now down 7%yr and 6.2%yr respectively.
Preliminary estimates show the number of sales, in rolling 3mth terms, down 3.9%qtr and 17.4%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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