This week's lead
Cotality's daily index shows dwelling values across the five largest capitals fell 1% over the past month, with Sydney down 1.5% and Melbourne down 1.2% leading the slide. Both cities' declines from their peaks are now substantial, confirming the correction is broad-based rather than a temporary dip.
MacroBusiness
Mortgage Prof. Aus
Stock levels across the combined capital cities have built to their highest point in seven years, giving buyers more choice and leverage. July's auction clearance rate was the weakest for that month in two decades, signalling a harder selling environment despite the extra supply.
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Cotality figures show national advertised rents rose 5.9% in the year to July, adding over $12,500 to the annual cost of renting for a typical tenant since the end of 2019. Analysts expect rental cost pressure to persist even as sale prices soften.
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The Reserve Bank held the cash rate steady at 4.35%, marking two consecutive meetings without a change after three increases earlier this year. Commentators note this offers borrowers short-term relief but does not confirm the tightening cycle has ended.
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From 1 July 2027, negative gearing tax benefits for residential property will generally apply only to newly built homes, while the current capital gains tax discount will be replaced with a system based on inflation indexation and a minimum tax rate on gains. Investors are being urged to reassess existing portfolios and future purchase decisions ahead of the change.
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