Australian home values have slipped in more than 130 suburbs nationwide, with some of the country’s most expensive markets recording sharp dollar losses over the past year.
Updated PropTrack data to December shows 139 suburbs experienced annual falls in median prices, including 118 now recording negative growth and another 21 sitting at zero growth but still losing value in dollar terms.
Realestate.com.au reports two suburbs alone shed more than $360,000 each, highlighting how even small percentage declines in prestige areas can translate into significant losses.
Sydney dominated the worst performers, with Oakville in the city’s northwest recording the steepest fall nationally, down 21 per cent or almost $400,000 over the year.
Darling Point apartments followed closely, with values dropping more than $360,000, while other premium suburbs across Sydney’s north shore, eastern suburbs and northern beaches also featured heavily.
Victoria recorded the highest number of suburbs in decline overall, driven largely by regional markets, while losses were also seen across the ACT, Northern Territory, Queensland and Tasmania.
REA Group senior economist Angus Moore said the slowdown reflects stretched affordability and a shift in expectations around interest rates in 2026.
While national prices are still expected to rise, growth is forecast to be more modest than last year.
Slower conditions may improve access for some first-home buyers, he said, but any rate increases would again pressure borrowing capacity, particularly in higher-priced markets.
