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.
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Summary by OZbrief Editorial · ABC News – Top stories · Source
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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