{"id":100744,"date":"2025-01-29T12:06:42","date_gmt":"2025-01-29T01:06:42","guid":{"rendered":"https:\/\/en.econostrum.info\/au\/?p=100744"},"modified":"2025-01-29T12:06:46","modified_gmt":"2025-01-29T01:06:46","slug":"aussie-house-price-dominos-sydney-melbourne-and-brisbane-start-to-fall","status":"publish","type":"post","link":"https:\/\/en.econostrum.info\/au\/aussie-house-price-dominos-sydney-melbourne-and-brisbane-start-to-fall\/","title":{"rendered":"Aussie House Price Dominos: Sydney, Melbourne, and Brisbane Start to Fall"},"content":{"rendered":"\n

The Australian housing market<\/strong> is showing signs of a significant shift<\/strong>, with home values slipping in key cities and buyers regaining leverage. Sydney, Melbourne, and now Brisbane<\/strong> are seeing declines in property prices, as rising stock levels and weakening demand tip the balance in favor of buyers.<\/p>\n\n\n\n

Home Values Retreat in Sydney and Melbourne<\/h2>\n\n\n\n

According to CoreLogic\u2019s daily dwelling values index<\/strong>, property values in Sydney and Melbourne<\/strong> continue to slide, dropping 0.3% and 0.5%<\/strong> over the past 28 days. This downward trend is fueled by a surge in new listings\u20146.7% higher in Sydney and 1.1% higher in Melbourne<\/strong> compared to the same period last year.<\/p>\n\n\n\n

While seasonal trends usually dictate a slow start to the year, CoreLogic\u2019s Eliza Owen<\/strong> warns that this downturn runs deeper.<\/p>\n\n\n\n

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\u201cThere\u2019s less appetite from buyers, but more sellers are coming into the market, which could indicate rising mortgage stress,\u201d Owen said.<\/p>\n<\/blockquote>\n\n\n\n

With interest rates remaining high<\/strong> and signs of a loosening labor market<\/strong>, more sellers may be forced to drop asking prices<\/strong> to secure deals.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Brisbane\u2019s Momentum Slows, Turning Into a Buyer\u2019s Market<\/h2>\n\n\n\n

Brisbane, a city that has boomed<\/strong> since the pandemic, is now losing steam. Over the past 28 days, dwelling values grew by just 0.3%<\/strong>, mirroring the slower pace seen in Perth<\/strong>.<\/p>\n\n\n\n

Buyer\u2019s agent Zoran Solano<\/strong> sees the shift as a win for buyers<\/strong>, noting that many sellers are struggling to meet price expectations.<\/p>\n\n\n\n

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\u201cFor me as a buyer\u2019s agent, it\u2019s a positive sign that the power has shifted back a little bit towards buyers.\u201d<\/p>\n<\/blockquote>\n\n\n\n

The Australian Financial Review<\/a><\/strong> reports that property values are falling in one in seven Brisbane suburbs<\/strong>\u2014the highest rate of decline in almost two years. CoreLogic\u2019s Tim Lawless<\/strong> points to increased listings and slowing interstate migration<\/strong> as key factors reducing demand.<\/p>\n\n\n\n

AMP chief economist Shane Oliver<\/strong> predicts that Brisbane could be next<\/strong> in line for price declines, following Sydney and Melbourne\u2019s trajectory.<\/p>\n\n\n\n

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\u201cBrisbane looks to me like a really soggy market, and I wouldn\u2019t be surprised if house prices go negative in the next couple of months.\u201d<\/p>\n<\/blockquote>\n\n\n

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Brisbane quarterly change in home values (%)<\/em>.<\/figcaption><\/figure><\/div>\n\n\n

Interest Rates: The Wildcard in Housing Prices<\/h2>\n\n\n\n

With housing markets softening, the Reserve Bank of Australia\u2019s next move<\/strong> could be crucial. Some experts believe that an interest rate cut<\/strong> could stabilize property prices, preventing further drops.<\/p>\n\n\n\n

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\u201cA rate cut could turn that downward momentum around,\u201d Oliver said. \u201cIf it occurs in February, it has the potential to head off a dip into negative territory for Brisbane prices.\u201d<\/p>\n<\/blockquote>\n\n\n\n

However, if rate cuts are delayed until April or May<\/strong>, Brisbane could experience further price declines<\/strong> before a potential rebound.<\/p>\n\n\n\n

Brisbane\u2019s Rise and Affordability Squeeze<\/h2>\n\n\n\n

Since March 2020<\/strong>, Brisbane\u2019s home values have surged by 80%<\/strong>, making it Australia\u2019s second most expensive housing market<\/strong> by median value. But rapid price growth has also eroded affordability, reducing buyer demand and setting the stage for a market correction.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Australia’s housing market is shifting, and the balance of power is tipping toward buyers. Sydney and Melbourne are already seeing price declines, while Brisbane, once a booming market, may be next in line. Rising stock levels and waning buyer demand are creating ripples across major cities.<\/p>\n","protected":false},"author":5,"featured_media":100755,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-100744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33","no-featured-image-padding"],"_links":{"self":[{"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/posts\/100744","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/comments?post=100744"}],"version-history":[{"count":9,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/posts\/100744\/revisions"}],"predecessor-version":[{"id":100756,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/posts\/100744\/revisions\/100756"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/media\/100755"}],"wp:attachment":[{"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/media?parent=100744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/categories?post=100744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/tags?post=100744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}