National Housing Downturn Deepens Amid Rate Hikes

National property values decreased by 5.2% in September 2026 from their peak in March, marking the sixth consecutive month of declines. This downturn is attributed to multiple interest rate increases by the Reserve Bank of Australia and recent federal property tax reforms.

For Melbourne's western growth corridor, this national trend suggests continued price adjustments. While higher interest rates may reduce borrowing capacity, the easing market could offer opportunities for astute buyers to enter or upgrade, especially as values stabilise.