Property Downturn Poised to Be Largest in 40 Years

National home values dropped 1.1% in September, bringing cumulative declines to 5.2% below the March peak, with the median home value now under $900,000. Experts foresee further falls into 2027 due to rising interest rates.

In Melbourne's western growth corridor, this significant market shift could present opportunities for first-home buyers. However, investors should exercise caution, as the construction sector may face increased bankruptcies if rates continue to climb.