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Report published October 1, 2026

Australia: Cotality House Prices: Price Falls Broaden Further in September – Goldman Sachs

Goldman Sachs · October 1, 2026

Australian capital-city dwelling prices fell 1.2% mom in September, standing 6.4% below their March 2026 peak as declines broadened across all capitals except Darwin. Rental growth slowed to 0.3% mom and the national rental vacancy rate rose to 2.0%.

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Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.

Key Takeaways

  • 1.Australian capital-city dwelling prices declined 1.2% mom in September, leaving them 6.4% below their March 2026 peak.
  • 2.Price declines broadened to almost every capital city except Darwin, led by previously resilient mid-sized capitals such as Brisbane, Adelaide, and Perth.
  • 3.Rental growth slowed to 0.3% mom (seasonally adjusted), marking the slowest monthly increase since May 2025 as the vacancy rate ticked up to 2.0%.

Table of Contents

  • Bottom line
  • Key numbers
  • Main points

Report data

Exhibit 4: Key data

MetricEstimateContext
Capital City Dwelling Prices (8-city, nsa)-1.2%Capital city dwelling price change in September
Capital City Dwelling Prices (8-city, nsa)-4.3%Quarter-over-quarter capital city dwelling price change
Capital City Dwelling Prices (8-city, nsa)-1.8%Year-over-year capital city dwelling price change
Capital City Dwelling Prices Peak-to-Trough Decline-6.4%Decline from the March 2026 peak
Brisbane Dwelling Prices-1.5%Largest monthly decline among capital cities
Source: Cotality. This is a dated model snapshot, not a live forecast.

Reports in this series

Australia: Cotality House Prices is shown in chronological order through this edition, published on October 1, 2026.

  1. Aug 3Australia Cotality House Prices Price falls broaden, prior months revised lower again

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