Total listings
145,573Up 19.1% year on year and 2.7% above the five-year average. More advertised stock means more properties for buyers to compare.
The property briefing · October 2026
Australian Property Market Update
October 2026
Your guide to the Australian property market: where prices are moving, how quickly homes are selling, and what’s happening with rents.
Explore your capital city ↓October edition · Primarily September 2026 data
Prepared by Simple Easy Finance · Economy updated 6 November 2026.
39,747Estimated home salesSeptember 2026 · −20.9% year on year
41 daysMedian selling timeSeptember quarter · 26 a year earlier
3.85%National gross rental yieldSeptember 2026
+19.1%Total listings year on yearFour weeks to 11 October 2026
01 / CAPITAL CITY HOUSING CYCLESOne country.
One country.
Different market paths.
Seven of the eight capitals recorded quarterly declines. Darwin was the exception. Several cities remain ahead over the year, even as their recent momentum has turned negative.
| Capital city | September month | September quarter | 12 months to September | Below record high |
|---|---|---|---|---|
| Sydney | -1.4% | -4.9% | -7.0% | -8.6% |
| Melbourne | -0.7% | -3.4% | -6.2% | -7.5% |
| Brisbane | -1.5% | -4.7% | +5.9% | -5.4% |
| Adelaide | -1.3% | -2.7% | +6.5% | -2.9% |
| Perth | -1.2% | -4.7% | +10.1% | -6.0% |
| Hobart | -0.5% | -1.2% | +7.0% | -2.0% |
| Darwin | +0.4% | +0.5% | +11.9% | -0.2% |
| Canberra | -1.1% | -3.2% | -1.6% | -6.2% |
Dwelling values, September 2026. Historical peaks differ by city.
The SEF perspective
A positive annual result does not necessarily mean prices are currently rising. Perth is up 10.1% over the year but down 4.7% over the quarter. Read the short- and longer-term measures together.
More recent pulse: over the 28 days to 13 October, values fell 1.4% in Sydney, Brisbane and Perth, 1.2% in Adelaide and 0.7% in Melbourne. These rolling figures use a different period from the table and are not forecasts of a market bottom.
02 / CAPITAL CITIES BY VALUE SEGMENT
Your price bracket matters.
The lower, middle and upper ends of a city’s market can move differently. These figures show quarterly value changes within each city’s price segments—not dollar price thresholds.
| Capital city | Lowest 25% of values | Middle 50% of values | Highest 25% of values |
|---|---|---|---|
| Sydney | -2.5% | -4.7% | -5.6% |
| Melbourne | -1.3% | -3.0% | -4.4% |
| Brisbane | -4.3% | -5.0% | -4.6% |
| Adelaide | -2.2% | -2.7% | -3.0% |
| Perth | -4.8% | -4.8% | -4.4% |
| Hobart | -0.6% | -1.6% | -1.1% |
| Darwin | +2.5% | +0.7% | -0.8% |
| Canberra | -2.6% | -2.6% | -4.2% |
Stratified hedonic dwelling index, three months to September 2026. Shading highlights the size and direction of changes.
What stands out
Sydney’s upper segment fell 5.6%, compared with 2.5% at the lower end. In Darwin, the lower segment rose 2.5%, while the upper segment slipped 0.8%. A citywide headline can hide important differences.
03 / NATIONAL SALES
Fewer homes are changing hands.
September marked the ninth consecutive month with fewer sales than a year earlier. The decline in annual sales volumes was greater across capital cities than regional markets.
Estimated national sales · September
39,747
20.9% fewer than September 2025.
Annual volumes · Australia−6.4%
Annual volumes · Capitals−9.1%
Annual volumes · Regionals−1.6%
Annual volume changes compare the 12 months to September 2026 with the previous 12 months. They are different from the September-only comparison above.
| Capital city | Annual sales volume change |
|---|---|
| Sydney | -9.8% |
| Melbourne | -5.0% |
| Brisbane | -12.6% |
| Adelaide | -4.6% |
| Perth | -18.8% |
| Hobart | +3.2% |
| Darwin | -1.6% |
| Canberra | +8.0% |
Recent sales volumes are modelled estimates and subject to revision.
04 / MEDIAN DAYS ON MARKET
Homes are taking longer to sell.
The national median rose from 26 to 41 days. Perth remains the fastest-selling capital at 26 days, while Canberra takes the longest at 50 days.
National median · September quarter
41 days
Up 15 days from a year earlier.
Capital cities: 39 days
Compared with 23 days a year earlier.
Regional markets: 43 days
Compared with 32 days a year earlier.
Longer selling times may give buyers more room to compare properties. Results still depend on the suburb, property and asking price.
Median time from initial listing to sale, measured over the three months to September 2026 versus the same period in 2025. Darwin’s prior-year median was 40.5 days.
05 / RENTAL RATES & GROSS YIELDSRents are rising.
Rents are rising.
The pace is easing.
National rents rose 5.5% over the year, but just 0.5% over the September quarter. Falling dwelling values alongside rising rents have lifted the national gross rental yield.
| Capital city | Annual rent growth | Gross yield |
|---|---|---|
| Sydney | +4.4% | 3.4% |
| Melbourne | +4.9% | 4.1% |
| Brisbane | +6.4% | 3.5% |
| Adelaide | +6.3% | 3.6% |
| Perth | +8.0% | 4.0% |
| Hobart | +8.0% | 4.4% |
| Darwin | +11.6% | 6.5% |
| Canberra | +3.1% | 4.4% |
Rent growth: 12 months to September 2026. Yields: September 2026. National yield is 3.85% in the report’s commentary and 3.9% in its rounded chart. Weekly dollar rents are not supplied.
For investors
Gross yield is not take-home income or total return. Allow for interest, vacancy, maintenance, management fees and other costs when assessing a property’s cash flow.
06 / THE BIGGER PICTURE
More stock. More time. Wider discounts.
Listings and vendor discounts help explain why conditions can feel different from the price headlines.
New listings
36,440Down 7.9% year on year and 11.9% below the five-year average. Total stock has increased even though fewer fresh listings are coming to market.
Vendor discount
4.2%The national median reduction from initial asking price to sale price, compared with 3.2% a year earlier. This is an observed median, not a guaranteed discount.
Listings: four weeks to 11 October 2026. Vendor discount: three months to September 2026.
Beyond the capitals
Regional dwelling values fell 1.9% over the quarter but remained 5.6% higher over the year. Combined capital values fell 4.3% over the quarter and 1.8% over the year.
07 / AUSTRALIAN ECONOMY · UPDATED 6 NOVEMBER 2026Inflation and interest rates.
Inflation and interest rates.
What to watch next.
Inflation remains above the RBA’s 2–3% target range, keeping pressure on household budgets. Here is the latest economic snapshot alongside our October property report.
Headline inflation
4.3%Annual CPI inflation in September 2026, up from 4.0% in August. Underlying inflation, measured by the trimmed mean, was 3.6%.
Official cash rate
4.85%The RBA raised its cash rate target by 0.25 percentage points on 3 November, effective 4 November 2026. Your home loan rate is set separately by your lender.
Next RBA announcement
8 December2026 · 2:30 pm AEDT (Sydney time). The next inflation release is due on 25 November, ahead of the RBA decision.
What it means for you
The RBA expects inflation to remain elevated for longer, with the economy slowing. Future rate decisions will depend on the data. Review your repayments and household budget using your current loan rate, rather than relying on a rate cut.
08 / REFINANCING & CASH FLOW01 02 03
Ways to weather higher interest rates.
If higher repayments are putting pressure on your budget, there may be a few options worth exploring depending on your circumstances.
Refinancing to a more competitive rate
Explore opportunities to secure a better interest rate and potentially save on your home loan repayments. We can compare the potential savings with switching costs, fees and any break costs.
Reducing your monthly repayments
Options such as interest-only repayments or extending your loan term may help ease cash flow pressures in the short term, subject to lender approval.
Interest-only repayments do not reduce your loan balance and repayments can rise when that period ends. A longer loan term can increase the total interest you pay.
Accessing equity in your property
Depending on your equity and borrowing capacity, you may be able to access additional funds to manage planned expenses, consolidate debts or provide greater flexibility.
This increases borrowing secured against your home. Consolidating debts over a longer term can cost more overall, even if monthly repayments fall.
Let’s explore your options
We’re happy to talk through the benefits and considerations to help you decide what’s right for you. Eligibility and lending criteria apply.
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