Key takeaways
National home values recorded their biggest monthly decline since December 2022
Auction clearance rates remained at 2022 downturn levels, creating more negotiating opportunities for buyers
First home buyers saw major changes from 1 July, including ACT stamp duty reform
Brisbane's auction market has softened, creating more negotiating opportunities for some buyers
New AML requirements are now in effect for property transactions across Australia
The property market does not move on one headline. It shifts with a mix of interest rates, lender pricing, supply, demand, and policy settings.
Each week, we look at what is changing across the market and break it down in a way that is easier to understand.
Here is what changed across the property market in the week ending 5 July, and what it could mean for you if you are buying, refinancing, upgrading or reviewing your home loan.
1. Buyers are watching the market ahead of spring
Property market analysis suggests winter conditions are likely to continue through July, with attention beginning to shift towards the spring selling season later this year.
Historically, spring brings more listings and buyer activity, although market conditions will continue to depend on interest rates and consumer confidence.
What this means for you:
If you're planning to buy this year, current winter conditions may offer more opportunities to negotiate before listing activity traditionally increases in spring. Every local market is different, so it's worth understanding how conditions are changing in the areas you're considering.
You might also be interested in: More homes are hitting the market. What it means for first-home buyers.
2. National home values recorded their biggest monthly decline since 2022
Cotality's latest Home Value Index showed national dwelling values fell 0.4% in June, the largest monthly decline since December 2022. Sydney and Melbourne recorded the biggest monthly falls, while Perth, Darwin and Brisbane continued to post growth.
Despite the monthly decline, national home values remain higher than they were a year ago.
What this means for you:
Conditions continue to vary across Australia. Buyers in Sydney and Melbourne may find more room to negotiate than they have in recent years, while stronger-performing markets continue to experience relatively resilient demand.
You might also be interested in: First-home buyer reality check - What's changed in 12 months?
3. First home buyers are navigating a changing landscape
Several first home buyer measures changed from 1 July. The ACT abolished stamp duty for eligible first home buyers regardless of property value, while Housing Australia confirmed more lenders are expected to join the Help to Buy shared equity scheme during 2026.
What this means for you:
Government support continues to evolve across Australia. If you're planning your first home purchase, it's worth checking what schemes are available in your state and whether you meet the eligibility criteria.
You might also be interested in: Could ACT’s stamp duty abolition bring more first-home buyers into the market?
4. Auction conditions remain in buyers' favour
National auction clearance rates remained at levels similar to those seen during the 2022 downturn, while Sydney recorded a preliminary clearance rate of 51% and Melbourne 54%.
The softer auction environment suggests buyers continue to have greater negotiating power in some markets than they have seen over the past few years.
What this means for you:
Lower clearance rates do not necessarily mean prices will continue to fall, but they can create more opportunities to negotiate on price and conditions.
You might also be interested in: Why some buyers may have more room to negotiate in today's property market
5. Brisbane's auction market has cooled
Recent auction results suggest Brisbane's auction market has softened compared with a year ago, with lower clearance rates indicating more measured buyer activity.
What this means for you:
While Brisbane continues to benefit from strong long-term fundamentals, softer auction conditions may provide buyers with more opportunity to negotiate than they have had in recent years.
You might also be interested in: What the headlines aren't telling first-home buyers right now
What to watch in the coming weeks
Several upcoming events could influence market conditions over the next few weeks:
Westpac–Melbourne Institute Consumer Sentiment Index (14 July)
ABS Labour Force data (16 July)
ABS CPI (June quarter 2026) release (30 July)
RBA cash rate decision (11 August)
Cotality July Home Value Index update
These updates may influence buyer sentiment, borrowing conditions, and property market activity during the second half of the year.
How this could impact your next step
Property markets can move quickly, but not every update will affect everyone in the same way.
What matters most is understanding how current market conditions apply to your own plans, whether you're buying your first home, upgrading, investing or reviewing your current loan.
If you're planning to make a move this year, an Aussie Broker can help you understand your options and what may be available based on your circumstances.
