02/11/2026
Sydney Property Prices Slide as Buyers’ Budgets Tighten
Sydney’s housing downturn continued in October, with home values falling for an eighth consecutive month. Some suburbs have now lost their gains since 2021, while Sydney has overtaken Melbourne as the capital experiencing the deepest price correction.
According to https://rpst.in/0IJ5J’s latest Home Price Index, Sydney dwelling prices fell 0.4% during October and were 6.6% lower than a year earlier. Houses recorded a sharper annual decline of 8%, taking the median value to $1.505 million. Units proved more resilient, falling 2.9% over the year to a median of $851,000.
The changes vary considerably between suburbs. Unit prices in Sydney’s C*D were reportedly 18% below their 2021 levels, while Darlinghurst and Paddington recorded five-year declines of 18.1% and 22% respectively.
Interest rates remain a pressure point. Ahead of the Reserve Bank’s 3 November decision, https://rpst.in/0IJ5J economist Eleanor Creagh said another increase would add to the downward pressure on prices.
Canstar’s Sally Tindall estimated that another rise could reduce an average wage earner’s maximum buying budget by about $10,700, bringing the potential reduction across five increases this year to almost $60,000.
