Capital city home prices fall as experts predict Australia’s property slump could last a year and cut values by 10%

Buyers abandon auctions and Sydney, Melbourne and Canberra median house prices end May lower than they were at the end of 2025 Get our breaking news email , free app or daily news podcast Home prices in Australia’s capital cities have begun to fall, with experts predicting the decline could last at least a year and wipe as much as 10% from values. The median capital city home price fell in May, the first decline since January 2025, as high interest rates and inflation stretch