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How far could house prices fall?

According to Cotality’s daily dwelling values index, home values across the five major capital city markets have declined by 5.2% from their 10 April 2026 peak.

  • Home values in major cities fell 5.2% since April 2026 peak
  • Largest decline 8.6% between Oct 2017 and May 2019
  • HSBC predicts 10% drop in dwelling values by end of 2026

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