In September Australian property prices have gone down by 1.4%, a slight ease from the 1.6% decline in August.

• Sydney fell by 1.8% with $1,053,131 median value
• Brisbane fell by 1.7% with $746,017 median value
• Canberra fell by 1.6% with $886,990 median value
• Hobart fell by 1.4% with $705,079 median value
• Melbourne fell by 1.1% with $774,531 median value
• Perth fell by 0.4% with $558,879 median value
• Adelaide fell by 0.2% with $649,983 median value
• Darwin remained about the same with a $509,440 median value

Property value is still well above where they were at the onset of COVID in March 2020. After the recent 25.5% growth cycle, combined capitals index are now 5.5% below the recent peak. Regional property recorded a stronger growth of 41.6% during the upswing, and since, values are down just 3.6%.

Source: CoreLogic’s national Home Value Index