Australian house prices are falling but have still more than doubled over the past decade

The average dwelling price in Australia has risen to more than 17 years of a typical household’s disposable income

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House prices https://www.theguardian.com/australia-news/2026/jun/30/house-prices-fall-capital-cities-australia-sydney-melbourne-adelaide-canberra">dropped across several Australian capital cities in recent months, with major banks predicting falls of https://www.nab.com.au/content/dam/nab-email-composer/nabmarketsresearch/economics/pdf/2026-05%20Housing.pdf">2-https://www.commbank.com.au/articles/newsroom/2026/05/2026-budget-updated-housing-outlook.html">3% by the end of the year.

But after a decade of accelerating house prices, this wouldn’t make a significant dent in housing affordability.