Australian Home Prices Continue July Downturn

National dwelling values decreased by 0.3-0.7% in July, now sitting 1.8-2.5% below their March 2026 peak. Sydney and Melbourne experienced the most significant drops, while Darwin recorded slight growth.

This trend suggests a more cautious market in Melbourne's western growth corridor. Buyers might find increased negotiation power and less competition for properties, requiring sellers to adjust expectations.