SYDNEY, July 23 (Xinhua) -- Australian house prices fell for the first time in three years in the second quarter of 2026, according to data released on Thursday.
The latest quarterly data from property marketplace Domain showed that the median house price in Australia's capital cities fell by 1.4 percent in the June quarter to 1.27 million Australian dollars (890,000 U.S. dollars), while the median unit price in capital cities fell by 1.2 percent to 728,670 AUD (511,000 USD).
Domain noted that it was the first time that capital house and unit prices have fallen on a quarterly basis in more than three years, ending the longest uninterrupted run of growth since 2015.
In Sydney, Australia's most lucrative property market, the median house price fell by 3.3 percent between March and June, and the median unit price fell by 1.5 percent in the same period.
The median house price was down 3.1 percent in Melbourne and 2.5 percent in Canberra on a quarterly basis.
Darwin in the Northern Territory was the only capital city where the median unit price increased.
"The signs of a downturn are increasingly evident across market conditions," the Domain report said.
"Listings are rising, homes are taking longer to sell, and discounting is increasing, shifting negotiating power towards buyers as vendors adjust expectations."
It attributed the shift to the central bank's decision to raise interest rates three times in the first half of 2026, cost-of-living pressures, weaker consumer sentiment and government policy changes to property taxation.
The median house price fell by 0.1 percent and median unit prices fell by 1.8 percent in regional areas in the June quarter. ■
