{
  "id": 9246176,
  "title": "Rising listings, falling demand, drive property prices lower",
  "url": "https://urgent.news/2026/09/23/rising-listings-falling-demand-drive-property-prices-lower",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-23T02:00:24.000Z",
  "source": {
    "name": "MacroBusiness",
    "slug": "macrobusiness",
    "url": "https://www.macrobusiness.com.au/2026/09/rising-listings-falling-demand-drive-property-prices-lower/"
  },
  "original_language": "en",
  "account": "Australia's housing market is experiencing a significant price correction, with a 5.7% decline since mid-April 2026. This downturn is already within 3% of the largest correction on record, which occurred between October 2017 and May 2019, when prices fell by 8.6%. The decline is now affecting mid-sized capitals like Brisbane, Adelaide, and Perth, which are declining at a faster rate than the two largest capitals, Sydney and Melbourne. If the current rate of decline continues, Australia's housing market could record its most significant price drop on record before the end of 2026, all within less than half the time it took during the previous correction.\n\nHSBC's most realistic bank forecast predicts a 13% peak-to-trough decline across capital cities over 15 months, but this could be optimistic due to forecasts of at least two, and possibly three, further rate hikes from the Reserve Bank. For-sale listing data from Cotality indicates that the downturn will increasingly be driven by mid-sized capital cities, with Brisbane (+55.2%), Perth (+57.7%), and Adelaide (+44.6%) seeing the greatest increases in listings compared to the previous 12 months. However, buyer demand has dwindled, particularly in Brisbane, where auction clearance rates have plummeted into the low-30s. Soaring numbers of for-sale listings coupled with dwindling demand indicate a clear trend of falling property prices. The perfect storm of extreme unaffordability, rising interest rates, and the federal government's changes to negative gearing and capital gains tax will likely result in the largest house price correction seen in living memory.",
  "summary": "Australia’s house price correction of -5.7% since mid-April 2026 has now gotten within 3% of the largest downturn in recorded history (40 years), which was -8.6% between October 2017 and May 2019. The correction has also spread to the mid-sized capitals of Brisbane, Adelaide, and Perth, which are declining slightly faster than the two largest The post Rising listings, falling demand, drive…",
  "key_points": [
    "Australia's housing market faces 5.7% price decline since mid-April 2026",
    "Mid-sized capitals like Brisbane, Adelaide, Perth declining faster than Sydney, Melbourne",
    "For-sale listings surge in Brisbane, Perth, Adelaide while buyer demand dwindles"
  ],
  "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."
}