Australia’s housing market downturn is spreading across the country, with property prices falling in more cities after months of weakness.
New data from Cotality shows national home values dropped 0.7% in July, marking the biggest monthly decline since December 2022.
Previously resilient markets, including Brisbane, Adelaide and Perth, are now also showing signs of slowing after years of strong growth.
Sydney and Melbourne continue to record the sharpest price declines as higher interest rates and weaker buyer confidence weigh on demand.
Analysts say uncertainty over tax changes, borrowing costs and global economic conditions has further reduced activity among buyers and sellers.
Experts warn the housing market is likely to remain under pressure in the coming months, with future interest rate decisions expected to play a key role in the sector’s recovery.
