{
  "id": 17616300,
  "title": "Home values fall for seventh consecutive month as interest rates dent demand",
  "url": "https://urgent.news/2026/11/01/home-values-fall-for-seventh-consecutive-month-as-interest-rates-dent-17616300",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-01T14:00:18.000Z",
  "source": {
    "name": "The Guardian Australia",
    "slug": "the-guardian-australia",
    "url": "https://www.theguardian.com/australia-news/2026/nov/02/home-values-fall-for-seventh-month-interest-rates-dent-property-demand"
  },
  "original_language": "en",
  "account": "Australian home values declined for a seventh consecutive month in October, with prices in major cities falling at the quickest rate in four decades due to rising mortgage rates. The downturn is shifting away from Sydney and Melbourne toward mid-sized state capitals like Brisbane and Perth. Combined values across capital cities fell 1.4% month-over-month. Property values in these mid-sized capitals have been heavily influenced by extreme growth over the past six years. Cotality research director Tim Lawless noted that virtually every suburb in Brisbane, Perth, and Adelaide saw a value drop over the past three months. Four interest rate hikes this year have weighed on the market, with a fifth expected soon. Economists predict double-digit price drops as rates rise, with Morgan Stanley forecasting up to a 15% decline. High interest rates, affordability issues, and a pullback in investors due to recent tax changes are the main factors reducing demand. Despite the recent weakness, most homeowners still hold substantial gains, as a 20% drop in Perth prices would only bring the market back to mid-2025 levels. Economists Peter Esho believes Sydney and Melbourne are nearing the bottom, while mid-sized capitals are earlier in the downturn. The downturn is part of a normal housing cycle driven by interest rates, which negatively affect sentiment. Rental pressures have eased slightly, with national vacancy rates rising and rent growth slowing, although rents remain up over 50% over six years, outpacing wage growth.",
  "summary": "Centre of downturn shifts away from Sydney and Melbourne, but after such strong growth most homeowners still sit on sizeable gains Get our breaking news email , free app or daily news podcast Australian home values have dropped for a seventh consecutive month, with prices in the capital cities now falling at the fastest pace in 40 years as rising mortgage rates scare off buyers. Cotality data…",
  "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."
}