By Michael Yardney July 13, 2026

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This week’s Australian Property Market Update – Latest Data, State by State July 14th 2026

Property Market News
This week’s Australian Property Market Update – Latest Data, State by State July 14th 2026

Key takeaways

The RBA kept interest rates on hold at its June meeting, leaving the cash rate at 4.35%, but borrowers should not assume the rate cycle is over.

Inflation remains the RBA’s main concern, and the Board made it clear that further rate rises are still possible if the data warrants it.

Auction markets softened again over the past week, with clearance rates now tracking around year-to-date lows in most capital cities.

The combined capital city preliminary auction clearance rate fell to 47.4%, its lowest reading since April 2020, showing buyer confidence has clearly weakened.

Sydney and Melbourne remain the softer major capital city markets, while Brisbane, Adelaide and Perth are still being supported by stronger medium-term fundamentals, although momentum is easing in some segments.

National dwelling values are not collapsing, but the market is clearly moving through a more cautious phase as higher rates, weaker sentiment and affordability constraints bite.

The rental market remains a strong support for investors, with tight vacancy rates and ongoing population growth keeping pressure on rents.

This is becoming a stock-picker’s market, where broad averages are becoming less useful and the right property in the right location matters more than ever.

Well, the RBA has now spoken, and for the first time this year borrowers received a little breathing space.

At its June meeting, the Reserve Bank kept the cash rate on hold at 4.35%, following three rate rises earlier this year.

That decision was widely expected, but it was not exactly a green light for borrowers or property buyers to relax.

The message from the RBA was clear enough: inflation is still too high, the economy is slowing, consumer spending is softening, and the housing market has lost some of its earlier momentum.

In other words, the Board has paused to see how the previous rate rises flow through the economy, but it has not ruled out doing more if inflation remains stubborn.

And that matters because confidence is a key ingredient in property markets.

Over the past week we have seen auction markets soften further, with the combined capital city preliminary clearance rate falling to 47.4%, its lowest level since April 2020. Clearance rates have now been below 60% for much of the past few months, and last week was the first time they slipped below 50% since the early pandemic period.

That tells us buyers are becoming more cautious, vendors are having to adjust their expectations, and the market is no longer being carried by the broad confidence we saw earlier in the cycle.

But this does not mean the property market is falling off a cliff.

As always, there is no single Australian property market. Sydney and Melbourne are clearly feeling the weight of higher borrowing costs and softer sentiment, while Perth remains the standout performer, and Brisbane and Adelaide are still showing resilience, even if their momentum is moderating.

The latest figures show Australian capital city dwelling values are now slightly lower over the month, but still well ahead of where they were a year ago. So this is not a crash, but it is a change in tempo.

To my mind, the market is entering a more selective phase. The easy gains are behind us for now, and investors will need to be more strategic than they have been over the last couple of years. Buying any property in a rising market is one thing, but buying an investment-grade asset that can outperform through a more cautious phase is something very different.

But the underlying fundamentals have not disappeared.

We still have a chronic undersupply of housing, strong population growth, tight rental markets, and construction costs that make it difficult to bring enough new dwellings to market. These factors will continue to underpin the value of well-located properties over the medium to long term.

However, in the short term, affordability constraints, higher interest rates, and uncertainty around future monetary policy are likely to keep many buyers cautious.

That is why I believe the best opportunities in this market will not come from following the headlines or chasing yesterday’s hotspots.

They will come from understanding where demand is deep, supply is constrained, household incomes are strong, and owner-occupiers want to live.

In markets like this, patience matters, but so does perspective.

On the auction front this week... Auction clearance rates reach a seven-week high as auction volumes decline

Auction activity declined last week, with the number of auctions falling by 8.7% to 1,318, which was also 8.0% lower than the corresponding week a year ago.

The combined capitals preliminary clearance rate rose to 54.8%, the highest in seven weeks and the first time above 50% in three weeks, up from 49.8% the week before.

See Cotality's full auction report below.

This week, Cotality also reports that:

Sydney property prices declined -0.3% over the last week, also declined -1.3% over the last month, and are -0.3% lower than they were 12 months ago.
Melbourne property prices declined -0.3% over the last week, also declined -1.1% over the last month, are -1.4% lower compared to 12 months ago.

Brisbane property prices declined -0.2% over the last week, also declined -0.2% over the last month and are 16.9% higher than they were 12 months ago.

Overall, Australian capital dwelling prices declined -0.7% over the last month and are now 5.7% higher than they were 12 months ago.

Clearly, the property cycle is moving on but our markets are very fragmented.

Weekly Change 13 July

Monthly Change 13 July

12 Month Change 13 July

Source: Cotality July 13th 2026

Of course, these are "overall" figures - there is not one Sydney or Melbourne or Brisbane property market.

And various segments of each market are performing differently.

At the beginning of this cycle the upper quartile of the market lead the upswing but last year the lower quartile across every capital city recorded a stronger outcome for housing values relative to its upper quartile counterpart.

The following chart shows how various segments of each capital city market are performing differently, with median-priced properties performing well.

Quarterly Change In Stratified Hdi

28 Day Rolling Change In Hvi

To help keep you up-to-date with all that's happening in property, here is my updated weekly analysis of data and charts as of 13th July 2026, provided by SQM Research, Cotality, and realestate.com.au.

Current property asking prices

Property asking prices are a useful leading indicator for housing markets - giving a good indication of what's ahead.

Here is the latest data available:

Sydney

Property type	Price ($)	Weekly Change	Monthly Change %	Annual % change
All Houses	2,053.288	-15.909	-3.1%	0.9%
All Units	896.190	-3.790	-3.2%	5.5%
Combined	1,580.031	-11.061	-3.1%	1.8%

Source: SQM Research

Melbourne

Property type	Price ($)	Weekly Change	Monthly Change %	Annual % change
All Houses	1,316.291	-4.291	-0.4%	0.9%
All Units	679.962	-2.448	-1.3%	8.1%
Combined	1,114.958	-3.613	-0.6%	2.2%

Source: SQM Research

Brisbane

Property type	Price ($)	Weekly Change	Monthly Change %	Annual % change
All Houses	1,393.603	-3.203	-1.0%	11.2%
All Units	870.319	-4.869	-2.1%	18.8%
Combined	1,260.964	-3.744	-1.2%	12.4%

Source: SQM Research

Perth

Property type	Price ($)	Weekly Change	Monthly Change %	Annual % change
All Houses	1,305.426	8.508	1.2%	13.5%
All Units	780.126	-2.106	-1.6%	21.2%
Combined	1,167.276	5.681	0.7	14.7%

Source: SQM Research

Adelaide

Property type	Price ($)	Weekly Change	Monthly Change %	Annual % change
All Houses	1,138.245	4.545	0.4%	7.2%
All Units	641.029	16.771	2.5%	14.3%
Combined	1,048.560	6.713	0.6%	7.9%

Source: SQM Research

Canberra

Property type	Price ($)	Weekly Change	Monthly Change %	Annual % change
All Houses	1,269.111	-7.874	0.6%	4.8%
All Units	608.251	-3.001	-0.6%	2.0%
Combined	1,017.297	-6.416	0.3%	3.6%

Source: SQM Research

Darwin

Property type	Price ($)	Weekly Change	Monthly Change %	Annual % change
All Houses	849.259	1.741	-0.7%	9.3%
All Units	473.447	2.803	1.8%	14.4%
Combined	701.425	2.168	-0.1%	10.5%

Source: SQM Research

Hobart

Property type	Price ($)	Weekly Change	Monthly Change %	Annual % change
All Houses	931.102	-0.739	-0.7%	10.6%
All Units	557.860	4.840	1.1%	12.1%
Combined	873.882	0.090	-0.5%	10.7%

Source: SQM Research

National

Property type	Price ($)	Weekly Change	Monthly Change %	Annual % change
All Houses	1,077.534	4.175	-0.8%	7.0%
All Units	663.022	6.061	-0.1%	13.4%
Combined	987.198	4.541	-0.7%	7.8%

Source: SQM Research

Cap City Average

Property type	Price ($)	Weekly Change	Monthly Change %	Annual % change
All Houses	1,532.774	-5.801	-1.7%	4.0%
All Units	796.406	2.970	-2.2%	8.2%
Combined	1,311.762	-3.269	-1.8%	4.6%

Source: SQM Research

The value of property asking prices as a leading indicator for housing markets is quite significant.

In fact it's more valuable than median prices which can be quite misleading.

Let's delve into why this is the case and how it impacts the real estate market.

Early Market Sentiment Indicator: Asking prices often reflect the current sentiment of sellers in the real estate market.

If sellers are confident, they might set higher asking prices, anticipating strong demand.
Conversely, if sellers are uncertain or perceive a market downturn, they might lower their asking prices to attract buyers.
This makes asking prices a real-time indicator of market sentiment, often preceding changes in actual sales prices.
Predictive of Future Price Trends: Trends in asking prices can be predictive of where the actual property prices are headed.
For example, a consistent rise in asking prices over a period can signal an upcoming rise in transaction prices.
Impact of Economic Factors: Economic factors such as interest rates, employment rates, and broader economic health influence asking prices.
For instance, changes in the Reserve Bank of Australia's policies or shifts in the job market can quickly reflect in the asking prices, providing insights into how these factors are influencing the housing market.
Regional Variations: In a diverse market like Australia's, asking prices can also provide insights into regional disparities.
For instance, the property markets in Melbourne and Sydney might behave differently from those in Brisbane or Perth. Asking prices can give early indications of these regional trends.
Influence of Supply and Demand: Asking prices are also a response to the balance of supply and demand in the market.
In areas with limited supply and high demand, asking prices tend to be higher and vice versa.

However, it's important to note that while asking prices are a valuable indicator, they should not be used in isolation.

Other factors like actual sales prices, time on the market, auction clearance rates, and economic conditions also play crucial roles in understanding the property market dynamics.

Last weekend's auction report

Auction clearance rates reach a seven-week high as auction volumes decline

Auction activity declined last week, with the number of auctions falling by 8.7% to 1,318, which was also 8.0% lower than the corresponding week a year ago.

The combined capitals preliminary clearance rate rose to 54.8%, the highest in seven weeks and the first time above 50% in three weeks, up from 49.8% the week before.

Capital City Auction Statistics 13 July

Across the combined capital cities, Melbourne accounted for the largest proportion of auction volume, with 585 homes brought to market.

While this represented a modest 0.3% increase on the week prior, it was 6.8% below its level a year earlier.

The preliminary clearance rate in Melbourne strengthened to 56.2%, up from 54.5% two weeks prior, representing the highest early result in four weeks.

Sydney saw the largest move in clearance rates, with the preliminary reading up to 57.5%.

That was its highest in ten weeks and well above the 47.3% low three weeks ago. That said volumes fell sharply to 452 auctions, down 18.7% both on the week and on a year ago.

Brisbane showed the most improvement among the mid-tier markets.

There were 128 auctions, up 7.6% from the previous week and 25.5% higher than a year ago. The preliminary clearance rate rose to 43.0%, up from a very weak 23.8% the week before.

Similarly, there was a sharp lift in Adelaide’s preliminary clearance rate, which rose to 59.1% from 45.7% a week earlier.

However, the auction volume fell 25.9% to 83.

Among the smaller capitals, Canberra held 60 auctions, down 4.8% from the previous week and unchanged from the same week last year, with a preliminary clearance rate of 44.9%.

Auction activity remained minimal in other regions, with eight auctions in Perth and two in Tasmania.

Our rental markets

Cotality’s national rental index rose half a per cent in seasonally adjusted terms (0.4% unadjusted) in June, on par with the 0.5% recorded in May, but slightly lower than the recent high point of 0.6% growth recorded in January.

Annual rental growth held at 5.9% nationally over the financial year, adding approximately $40/week to the median rent.

Across the broad regions of Australia, annual rental growth ranged from 10.1% in Darwin and regional Tasmania to 3.2% in the ACT and regional NT.

Annual Change In Rents, Houses

Capital city rents have risen by 41.7%, or $217 a week, over the past five years.

Sydney continues to record the most expensive rental rates, with a median of $883 a week for houses and $783 a week for units.

Annual Change In Rents Units

With rents rising faster than home values, we are seeing a gradual but consistent rise in gross rental yields.

Across the combined capitals, the gross rental yield is averaging 3.50%, up from a recent cyclical low of 3.34% in December last year and a record low of 2.92% in January 2022.

Gross Rental Yields Dwellings