Housing market seeing 'rapid deterioration' as property downturn deepens
Australia's housing downturn spread beyond Sydney and Melbourne in July, with Brisbane and Adelaide recording price declines as national values fell 0.7 percent. Three consecutive Reserve Bank interest rate hikes and government tax changes triggered the weakness across previously resilient markets. Analysts expect further deterioration as sellers withdraw, awaiting better conditions to list properties.
How does this story land?
Summary by OZbrief Editorial · ABC News – Top stories · Source
Take it further — get the full app and never miss a moment of what's happening in Australia.
This publisher's site can't be shown here due to their security settings.
Open full article →No source link available for this article.
Published 02 Aug 2026, 14:01 UTC · Updated 02 Aug 2026, 14:10 UTC
Summary by OZbrief Editorial. Original report: ABC News – Top stories. Editorial policy · Corrections
Trending
- Airtrain sues Queensland government over 50¢ fares
- Pregnant Wagyu cows and calves worth $200,000 stolen from station
- NSW minister reports 'vile' online threats to police
- Coles Bay arson accused granted bail in Launceston court
- Major meat processors caught up in alleged $50,000 cattle theft case
- Trawlers sit idle as tiger prawn season gets underway