House prices plummet for sixth consecutive month as experts warn of greater falls

Australian property values have recorded a sixth consecutive monthly decline in September, as the national market continues to cool under the weight of rising borrowing costs. Data released this week confirms a persistent downward trend across major capitals, signalling a significant shift from the record highs seen in the immediate post-pandemic period.

The current downturn is being driven by a combination of successive interest rate hikes by the Reserve Bank and the strategic reduction of property tax breaks. Market analysts suggest that these factors have significantly curtailed the borrowing capacity of the average household, leading to a projected 15 per cent market correction in the near term.

“The Australian property landscape is undergoing a fundamental recalibration, as the era of rapid capital growth gives way to a more disciplined and restrictive financial reality.”

As the market prepares for further volatility, experts advise that the impact will be felt unevenly across the states. While some regional pockets remain resilient, the broader outlook points to a sustained period of adjustment before the national property market finds a new equilibrium.