Invest
How popular property markets have performed since 1989
Nationally, dwellings values are currently -8.2 per cent from their peak, which is the largest decline in value for the property market in the last three decades.
How popular property markets have performed since 1989
Nationally, dwellings values are currently -8.2 per cent from their peak, which is the largest decline in value for the property market in the last three decades.
However, during the same time frame, national dwelling values have been at an historic high for 56.8 per cent of that time.
New research conducted by CoreLogic’s research analyst, Cameron Kusher, analyses the current property market and for how much of the time the nation reached peak property prices.
According to Mr Kusher, since the 2017 peak for capital cities, the prices have fallen by -10.1 per cent.
Regionally, as a nation Australian property prices are holding value compared with their city counterparts. Since the historic highs, regional properties have fallen by -3.0 per cent.
The Sydney market has been the hardest hit falling by -14.9 per cent and have been at a historic high price for 44.9 per cent of the time since 1989.
Melbourne dwelling values have currently fallen by -11.1 per cent and is in its deepest correction any time since 1980. Over the past 30 years, it has been at a historic high for 44.9 per cent of the time.
Brisbane peak arrived much later than the cities south of the border, reaching a peak in April 2019, according to Corelogic. Since then, it has fallen by -2.4 per cent, while being at a historic high for 49.3 per cent of the time.
Adelaide has began a correction in recent months and is now marginally below its peak value. It has, however, been in a peak period for 53.8 per cent of the time in the past 30 years.
For Perth, since the mining boom, the current decline has been the sharpest in the past 30 years, falling by -19.2 per cent. The peak for WA as a whole has fallen by -32.5 per cent since January 2008.
Hobart has shown strong growth in value over recent years, having now fallen by -1.3 per cent in the past few months, according to Corelogic. Historic highs have been reached for just 37.7 per cent of the time.
Darwin dwellings last peaked in 2014, and they are currently 29.5 per cent lower than this peak five years ago. Over the past 18 years, values have been record highs for just 25.3 per cent of the time, according to Corelogic.
Finally, Canberra prices are slightly lower than their peak after a decline of 0.2 per cent in May 2019. Over the past 25 years, dwellings in the nation's capital have been at historic highs for 38.2 per cent of the time.
RELATED ARTICLES
About the author
About the author
Property
Twice the demand: the case study behind Melbourne’s first‑home buyer surge
Melbourne has quietly engineered one of Australia’s most consequential housing turnarounds, with first‑home buyer demand running at roughly double the national pace and four of the top five buyer ...Read more
Property
First‑home buyers now anchor Australia’s mortgage growth — but the risk maths is changing
Great Southern Bank’s revelation that nearly one in three of its new mortgages went to first‑home buyers is not an outlier. It is the leading edge of a broader market realignment powered by government ...Read more
Property
Home guarantee scheme shake-up challenges Australia’s housing market players
From 1 October 2025, the expanded Home Guarantee Scheme (HGS) materially widens what first-home buyers can purchase and where. By sharply lifting price caps and relaxing eligibility settings, the ...Read more
Property
GSB’s first‑home buyer play: turning policy tailwinds into market share
Great Southern Bank’s latest results show that nearly one in three of its new mortgages now go to first‑home buyers—evidence of a fast‑moving market reshaped by government guarantees, easing rates and ...Read more
Property
Why investors are fleeing and renters are scrambling in Australia's housing maze
Australia’s rental market is tightening even as individual landlords sell down. New data points to a multi‑year investor retreat tied to higher holding costs and regulatory uncertainty, while prices ...Read more
Property
Australia's 5% deposit guarantee: Unlocking gains while balancing risks in the market share race
Can a bigger government guarantee fix housing access without fuelling prices? Australia is about to find out. The Albanese government’s expanded 5% deposit pathway aims to help 70,000 buyers, remove ...Read more
Property
Australia's bold move the 5% deposit scheme shaking up the housing market
Can a government guarantee replace lenders mortgage insurance without inflating prices or risk? Canberra’s accelerated 5% deposit scheme is a bold demand-side nudge in a supply‑constrained marketRead more
Property
When rates drop but stress sticks: exploring Australia's mortgage arrears dilemma
Headline numbers suggest arrears ease as rates come down. The reality in Australia is messier: broad measures dipped into mid‑2025, yet severe delinquencies and non‑bank portfolios remain under ...Read more
Property
Twice the demand: the case study behind Melbourne’s first‑home buyer surge
Melbourne has quietly engineered one of Australia’s most consequential housing turnarounds, with first‑home buyer demand running at roughly double the national pace and four of the top five buyer ...Read more
Property
First‑home buyers now anchor Australia’s mortgage growth — but the risk maths is changing
Great Southern Bank’s revelation that nearly one in three of its new mortgages went to first‑home buyers is not an outlier. It is the leading edge of a broader market realignment powered by government ...Read more
Property
Home guarantee scheme shake-up challenges Australia’s housing market players
From 1 October 2025, the expanded Home Guarantee Scheme (HGS) materially widens what first-home buyers can purchase and where. By sharply lifting price caps and relaxing eligibility settings, the ...Read more
Property
GSB’s first‑home buyer play: turning policy tailwinds into market share
Great Southern Bank’s latest results show that nearly one in three of its new mortgages now go to first‑home buyers—evidence of a fast‑moving market reshaped by government guarantees, easing rates and ...Read more
Property
Why investors are fleeing and renters are scrambling in Australia's housing maze
Australia’s rental market is tightening even as individual landlords sell down. New data points to a multi‑year investor retreat tied to higher holding costs and regulatory uncertainty, while prices ...Read more
Property
Australia's 5% deposit guarantee: Unlocking gains while balancing risks in the market share race
Can a bigger government guarantee fix housing access without fuelling prices? Australia is about to find out. The Albanese government’s expanded 5% deposit pathway aims to help 70,000 buyers, remove ...Read more
Property
Australia's bold move the 5% deposit scheme shaking up the housing market
Can a government guarantee replace lenders mortgage insurance without inflating prices or risk? Canberra’s accelerated 5% deposit scheme is a bold demand-side nudge in a supply‑constrained marketRead more
Property
When rates drop but stress sticks: exploring Australia's mortgage arrears dilemma
Headline numbers suggest arrears ease as rates come down. The reality in Australia is messier: broad measures dipped into mid‑2025, yet severe delinquencies and non‑bank portfolios remain under ...Read more
