{
  "id": 10957249,
  "title": "House prices plummet for sixth consecutive month as experts warn of greater falls",
  "url": "https://urgent.news/2026/09/30/house-prices-plummet-for-sixth-consecutive-month-as-experts-warn-of",
  "topic": "world",
  "section": "World",
  "published": "2026-09-30T14:12:56.000Z",
  "source": {
    "name": "ABC News AU",
    "slug": "abc-news-au",
    "url": "https://www.abc.net.au/news/2026-10-01/australian-house-prices-fall-for-sixth-straight-month/107206782"
  },
  "original_language": "en",
  "account": "Australian house prices fell for a sixth consecutive month in September, according to Cotality's Home Value Index. The index dropped 1.1% in September, marking a 5.2% decline from its peak in March. Brisbane experienced the steepest monthly decline (-1.5%), while Sydney saw a 1.4% drop and Melbourne a 0.7% decrease. Darwin was the only capital city to avoid a price decline, with a 0.4% increase. Most suburbs across the capitals recorded value declines over the past three months, indicating a widespread housing market downturn. Experts warn that house prices could fall by 10-15% in the coming months due to higher interest rates and cuts to housing tax breaks. Soheil Abedian, a Queensland developer, attributes the decline to factors such as the Middle East war, Labor's budget changes, and interest rate hikes, which he believes will lead to more bankruptcies in the construction sector. If interest rates continue to rise, the industry may face greater financial strain. AMP chief economist Shane Oliver predicts that house price falls could reach 20% in a worst-case scenario, potentially triggering a recession. Currently, average wage earners can afford about a $500,000 property, but average prices in Australia are around $900,000, highlighting the affordability crisis.",
  "summary": "Australian house prices fell for a sixth straight month in September, and the property market is likely to continue experiencing falls of up to 15 per cent in the coming months off the back of higher interest rates and cuts to property tax breaks, experts say.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}