Housing Market Slows Across Major Cities | Australia News

House prices took another hit in June, plunging 0.4% nationally—with Sydney and Melbourne leading the decline at 1.2% and 1% respectively, the sharpest monthly drop since December 2022. The slowdown is now spreading beyond the big two cities, as Brisbane and Perth see sluggish growth and Adelaide stalls flat. Despite this, the government remains defiant, insisting the tax changes are a minor blip and that interest rates—not policy—are the real driver. Treasury models, backed by Health Minister Mark Butler, predict prices will still climb long-term, even if slower, citing global events and rate hikes as bigger confidence killers. The message? This is a temporary dip, not a crash. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/e9bffa1241b57044