Business

Australian Property Market Slumps

Updated 2026-05-31 15:20 UTC 1 source Negative

Australian home prices have fallen, with experts predicting a year-long slump that could reduce property values by 10%. The trend is affecting Sydney, Melbourne, and Canberra.

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The Guardian

Australian home prices fall as experts predict slump could last a year and cut values by 10%

Buyers abandon auctions and Sydney, Melbourne and Canberra median house prices end May lower than they were at the end of 2025Get our breaking news email, free app

2026-05-31 15:00 UTC