June 2026 Sydney Property Market Update

Demand Softening in Sydney 

 Across Australia, home values in  the previous three months saw a slight increase of 0.6%. Regions like  Brisbane, Adelaide, Perth, and Hobart continue to show growth, Sydney was among the states where prices have reduced over the quarter.

On the back consecutive interest rate increases, Sydney has seen its third negative month-on-month change in dwelling values, reducing by 0.9% in the month of May, and 2.1% over the  past quarter

The Sydney slowdown has been most evident in properties values within the upper quartile (the top 25% of  properties by value), and in houses compared to units.

Analysing this by region provides further insight into the pockets of  Sydney that have seen the smallest change in dwelling values over the  past 12 months. North Sydney – Mosman and the Eastern Suburbs have witnessed property values declining by 6.5% and 4.4% respectively, far greater than other regions in Sydney. This was followed by Chatswood Lane Cove, Pennant Hills-Epping, and Pittwater where values reduced by 
2.7% to 2.8%.

Conversely, the regions that experience the largest change in dwelling values across Sydney were Penrith and St Marys where values grew 11.7% and 11.6% respectively. On there heels were several regions where values increased by in excess of 10% including Wyong, Campbelltown, Richmond-Windsor, Mount Druitt, and Bringelly-Green Valley.

More properties on the Market

New properties listed for sale increased in May to align with seasonal norms. New listings were 3.8% higher than this time last year but remain 4.9% below the five-year average. 
The steady flow of new listings is adding to the total stock on market which has increased since February when consumer demand started to decline.

Number of new National Property Listings

This has corresponded with a relative absence of buyers from the market who seem to be staying their hands due to rising interest rates and pending legislation changes relating to negative gearing and capital gains tax. For buyers, the rise in fresh stock coupled with lessened competition from other buyers, particularly investors, is creating more opportunities and improving choice.

Rental Market Conditions

The national vacancy rate is 1.5%, down 0.2% from the previous month and an indication of the tightness in the market. Rent prices have grown since the middle of 2025 by approximately 6% across the combined capitals and regionals. Sydney rental prices have mirrored the national average at 5.8%. The greatest annual increase was in Darwin where prices were up 10%, followed by Hobart at 8%, Perth 7.5%, and Brisbane 6.5%.

Overall market conditions have become more balanced as property listings increase and buyers gain more choice. While growth has moderated compared with previous years, demand remains supported by population growth, limited new housing supply and tight rental conditions.

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This content is general in nature and does not constitute credit, financial or taxation advice. It does not take into account your objectives, financial situation or needs. You should consider whether it is appropriate for your circumstances and seek independent professional advice before making any financial decisions.  

This information is general in nature and does not constitute credit advice. It does not take into account your objectives, financial situation or needs. You should consider your own circumstances before acting on this information

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