Australian Property Market Update: Is the Housing Market Cooling? What Home Buyers and Investors Need to Know

According to Cotality's June 2026 Housing Chart Pack, home values are still rising, up 8.8% over the past year, but the pace has slowed considerably, with growth of just 0.6% over the past three months. In other words, property prices are still moving forward, just not at the sprint we've become used to.

The biggest surprise is how differently each market is behaving. Sydney and Melbourne are taking a breather, recording quarterly declines of 2.1% and 2.3% respectively, while Darwin continues to power ahead with quarterly growth of 5.2%. Perth (4.8%), Brisbane (3.4%), and Adelaide (2.8%) aren't far behind, all sitting at record highs and proving that not every city got the memo about slowing down.

Regional Australia is also quietly outperforming the capitals, and units are increasingly stealing the spotlight from houses in several cities as buyers chase affordability. It's a reminder that the property market isn't one big national story anymore—it's a collection of very different local stories.

One thing hasn't changed: Australians remain deeply invested in property, with residential real estate now worth $12.6 trillion and accounting for more than half of household wealth.

Source: Cotality

June 2026