1st September 2026 – (Sydney) Australia’s median dwelling value fell for a fifth consecutive month in August, with Sydney leading the downturn. Property data firm Cotality reported a 0.9 per cent monthly decline to 912,885 Australian dollars, following a 0.7 per cent fall in July. National values now sit 3.6 per cent below the March peak, underscoring the breadth of the market’s pullback.
Across the combined capital cities, median values dropped 1.1 per cent in August and were down 3.7 per cent over the quarter. The retreat was widespread, with home values falling across an estimated 93 per cent of capital‑city suburbs between June and August. Sydney posted the sharpest fall of the capitals, with values down 1.4 per cent in August and 7.1 per cent since February.
Tim Lawless, Cotality’s Research Director, said a combination of weaker demand and above‑average advertised stock is exerting greater pressure on Australia’s largest housing market. Cotality also estimated that national home sales over the quarter were tracking 15.5 per cent lower than the same period in 2025 and 11.5 per cent below the five‑year average, while capital‑city listings in the four weeks to end‑August were 24 per cent higher than in 2025 and 8 per cent above the five‑year norm.
