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Sydney and Melbourne property values drop as housing market stalls in May

Australia's housing market continues to lose momentum, with national home values flatlining in May as higher interest rates, weak confidence and proposed property tax changes weigh on demand.

1 report1 sourceMay 31, 2026, 6:57 PM
FilterABC Australia
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ABC AustraliaMay 31, 2026, 6:57 PM

Sydney and Melbourne property values drop as housing market stalls in May

Australia's housing market continues to lose momentum, with national home values flatlining in May as higher interest rates, weak confidence and proposed property tax changes weigh on demand.

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