Adelaide home prices declined in June 2026, ending 15 consecutive months of growth, according to Cotality. Median house prices also fell in Melbourne, Sydney, and Canberra during the month.

Sydney home values decreased 1.2% in June, the largest one-month decline since August 2022. This reduced Sydney's median home prices by $48,000 since January, though they remained $3,000 above June 2025 levels. Melbourne home values dropped 1% in June, also the largest one-month decline since August 2022, with median prices $7,000 below June 2025 levels.

Canberra prices were $8,000 below January levels but $25,000 higher than levels from one year earlier. Adelaide home prices had risen 15.4% in the 12 months prior to June and saw a modest rise before declining in the second half of June.

Interest rates increased three times since February, though the Reserve Bank board held rates steady in June. National auction clearance rates have remained below 50% since the end of May, meaning more than half of homes taken to auction are not selling. The total number of home sales in capital cities for the three months ending in June was 16.2% lower compared to the same period in the previous year.

Perth home prices rose 0.7% in June and nearly 24% in the 12 months prior to June. Brisbane recorded a 0.3% rise in June, contributing to a 17.4% annual median price increase. Estimated home prices in Perth and Brisbane for May were revised down by over $10,000.