House prices fall in Sydney and Melbourne

A ‘For Sale’ sign is seen near a house in Canberra, Wednesday, February 25, 2026. (AAP Image/Lukas Coch) NO ARCHIVING Source: AAP / LUKAS COCH/AAPIMAGE

The cost of buying a home in Australia's two biggest cities has dropped, according to the latest figures from research agency Cotality. Dwelling values fell 0.9 per cent in Sydney and 0.8 per cent in Melbourne during May. While prices rose in other state and territory capitals, the growth was weaker than previously seen.

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Published 4 June 2026 6:23pm

By Kerrin Thomas

Presented by Yumi Oba

Source: SBS

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The cost of buying a home in Australia's two biggest cities has dropped, according to the latest figures from research agency Cotality. Dwelling values fell 0.9 per cent in Sydney and 0.8 per cent in Melbourne during May. While prices rose in other state and territory capitals, the growth was weaker than previously seen.

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