Home Value Index Tracker
The Cotality (formerly CoreLogic) Home Value Index, tracked month by month — the latest national and capital-city dwelling values, rents and yields, Housing Chart Pack highlights, and what they mean for investors. Updated within days of every release.
What is the Cotality Home Value Index showing right now?
Australian home values fell 0.4% in June 2026 — the steepest monthly fall since December 2022 and the third consecutive decline since the market peaked in March 2026. The national median dwelling value sits at $937,722, about 0.7% below peak. Sydney (–1.2%) and Melbourne (–1.0%) are leading the downturn while Darwin (+1.4%), Perth (+0.7%) and the regions are still rising.
The Latest Numbers (June 2026 HVI)
National: −0.4% for the month · −0.7% from the March 2026 peak · median $937,722. Combined capitals fell 1.3% over the June quarter (median $1,024,840); combined regionals rose 0.3% for the month and roughly 11% for the year (median $771,642) — the regions are the last broad holdout.
Monthly Change in Dwelling Values by Capital — June 2026
The downturn is a Sydney (–1.2%) and Melbourne (–1.0%) story, with Canberra also falling, while Darwin, Perth, Hobart and Brisbane still rose. National –0.4% was the steepest monthly fall since December 2022.
Source: Cotality (formerly CoreLogic) Home Value Index, June 2026 (released ~1 July 2026).
| Capital | Monthly | Quarterly | Annual* | Median* |
|---|---|---|---|---|
| Sydney | −1.2% | −3.2% | +0.3% | $1,265,608 |
| Melbourne | −1.0% | −2.6% | −0.9% | $808,486 |
| Brisbane | +0.3% | +0.7% | +17.4% | $1,118,306 |
| Adelaide | 0.0% | +1.3% | +11.6% | $945,868 |
| Perth | +0.7% | +2.0% | +23.9% | $1,046,551 |
| Hobart | +0.6% | +1.4% | +9.3% | $752,760 |
| Darwin | +1.4% | +5.0% | +19.8% | $638,187 |
| Canberra | −0.6% | −1.3% | +2.9% | $885,254 |
Source: Cotality Home Value Index, June 2026 (released ~1 July 2026). *Annual figures and medians are Cotality-derived and indicative pending the official June PDF.
Rents and yields: annual rent growth of roughly 5.9% (combined capitals) against vacancy near record lows (~1.5–1.6% on Cotality's measure) means gross yields are expanding for the first time this cycle. Worked example: a $700,000 dwelling renting at $560 a week (4.16% gross) becomes roughly 4.54% gross after a 3% value fall and 5.9% rent growth. Cross-check rental conditions on our Vacancy Rate Tracker.
Market activity: auction clearances in the low-40s per cent (the peak was ~72% in September 2025), home sales down 16.2% year-on-year, advertised stock up ~11%, days on market ~28 and rising, vendor discounts ~3.3% and widening. The cash rate is held at 4.35%.
The Trend
Where are we in the cycle?
Values peaked in March 2026 after annual growth crested at 10.0% in February. The path since: annual growth stepped down (9.9% March, 9.8% April) before outright monthly falls set in, deepening each month to June's –0.4%. The index is ~0.7% below peak nationally — shallow and orderly by historical standards (the 2022–23 downturn ran to –8.2% peak-to-trough).
This Downturn vs 2022–23
The current correction is far shallower and slower than the 2022–23 rate-shock downturn: the national index sits ~0.7% below its March 2026 peak vs the 8.2% peak-to-trough fall of 2022–23. (2026 figures are the fall to date, not a completed cycle.)
Source: Cotality (formerly CoreLogic) Home Value Index, June 2026 (released ~1 July 2026). 2022–23 figures from CoreLogic/Cotality December 2022 Home Value Index.
Sydney and Melbourne actually peaked earlier, around November 2025 — Sydney is roughly 3–3.5% below peak and Melbourne about 4% (roughly $40,000–$45,000 off each median). Melbourne remains the only mainland capital in annual decline and has never retaken its March 2022 high.
Cross-Check: Cotality vs PropTrack
The two providers agreed on June's national direction (Cotality –0.4%, PropTrack –0.3%) but split sharply on the mid-sized capitals — most notably Perth, which Cotality has rising +0.7% and PropTrack has falling –0.5%. Per-city monthly magnitudes routinely differ 20–40 basis points on methodology; a sign disagreement is rarer, and means treat that market's print as unconfirmed. See our PropTrack Home Price Index Tracker for the other side of the pair.
Cotality vs PropTrack — June 2026 Monthly Change
The two major indices agree on the national direction but split on the mid-sized capitals — most sharply on Perth, which Cotality has rising (+0.7%) and PropTrack falling (–0.5%). Treat sign disagreements as unconfirmed until the next prints.
Source: Cotality (formerly CoreLogic) Home Value Index, June 2026 (released ~1 July 2026). PropTrack Home Price Index, June 2026.
Housing Chart Pack Highlights (May 2026 Edition, April Data)
Cotality's monthly Chart Pack puts the HVI price series in context — market size, listings, credit and rentals. The headline figures from the latest pack:
- Total residential market value $12.6 trillion across 11.5 million dwellings; housing holds 55.8% of household wealth against $2.6 trillion in mortgage debt.
- Capital-city divergence hit 24 percentage points — the widest in Cotality's modern dataset: Perth +26.0% annually vs Melbourne +2.0%.
- National gross rental yield 3.59%, up from the 3.55% cycle low — the first cyclical yield expansion, confirmed before prices even turned.
- Investor share of new lending 39.7% vs a 33.5% decade average, with APRA's high-DTI benchmark (20% cap on ≥6× DTI lending) live since 1 February 2026.
- New listings +22.4% year-on-year in the four weeks to 3 May — vendors arriving as clearances fall.
Annual Growth by Capital — the 24-Point Divergence
Annual dwelling-value growth to April 2026, from the May Housing Chart Pack: Perth (+26.0%) to Melbourne (+2.0%) is the widest capital-city spread in Cotality's modern dataset. These are rear-view annual numbers — the monthly chart above shows the momentum turn.
Source: Cotality Monthly Housing Chart Pack, May 2026 edition (April 2026 data).
What This Means for Investors — Our Analysis
- This is a genuine turning point, but an orderly one. Three straight monthly falls with deepening breadth is a trend; a 0.7%-below-peak index with no forced-selling signal is not a crash. The base case is a grind of –0.2% to –0.5% monthly prints while rates stay at 4.35%.
- Buyer leverage in Sydney and Melbourne is the best since 2022. Low-40s clearances, more stock, longer selling times and widening discounts — anchor offers to recent comparable sales, not asking prices.
- Yields are expanding for the first time this cycle. For yield-led and SMSF buyers, falling values plus ~5.9% rent growth is a materially better entry than the growth-at-any-yield market of 2024–25. Model a specific property with our rental yield calculator.
- The boom capitals are braking, not reversing. Perth, Brisbane and Adelaide still show double-digit annual growth, but their momentum is fading fast on the daily index. An offer priced off the annual figure pays for growth that has already happened.
- The RBA is the master variable. This is demand-side cooling at a held-restrictive 4.35%, and every major recovery forecast keys off the first cut (widely expected 2027). The main downside risk is an inflation-forced hike — only then does a 2022-style –5% to –8% become plausible.
Monthly Editions — Full Analysis Archive
National −0.4%, the biggest monthly fall since December 2022; Sydney and Melbourne lead down.
Perth +26.0% vs Melbourne +2.0%; all eight capitals easing; yields expanding for the first time this cycle.
Fastest annual pace since June 2022 — but clearances at their lowest since July 2022.
National +0.8% at the boom's crest — the last strong print before the March peak.
Related: Buy vs rent — the Cotality data that surprises everyone.
Methodology
How the Cotality Home Value Index works: a daily-updated hedonic index of Australian dwelling values — it controls for the attributes of what actually sold (land size, bedrooms, location), so a change in the mix of sales doesn't masquerade as a change in values, which is why it can diverge from raw medians. It captures roughly the full universe of transactions and is the earliest broad read on price direction, turning ahead of the ABS quarterly index. Release timing: the monthly HVI lands on the first business day of each month covering the prior month; the Housing Chart Pack follows mid-month.
Rebrand note: Cotality is the company formerly known as CoreLogic — same index, same methodology, same history under a new name. vs PropTrack: PropTrack (REA Group) runs a monthly hedonically adjusted automated-valuation model on the realestate.com.au listings ecosystem; Cotality's practical strength is the longest like-for-like history and daily granularity, PropTrack's is listings depth and buyer-behaviour signal.
Sources
- Cotality, Home Value Index — June 2026: “Housing market downturn deepens as demand headwinds build” (released ~1 July 2026) — cotality.com.au
- Cotality, Monthly Housing Chart Pack, May 2026 edition (April 2026 data, Daily HVI to 8 May 2026)
- Cotality, Home Value Index, February 2026 (archive context)
- PropTrack, Home Price Index, June 2026 — cross-check figures via our PropTrack HPI Tracker
- RBA cash rate decisions, February–May 2026 (held at 4.35% since May)
Frequently Asked Questions
Yes — CoreLogic rebranded to Cotality. The Home Value Index, its methodology and its full history are unchanged; it's the dataset investors, lenders and the RBA still reflexively call "CoreLogic".
The first business day of each month, covering the prior month — the July 2026 HVI is expected around 1 August 2026. The Housing Chart Pack follows mid-month. This tracker is updated within days of each release.
On the June 2026 HVI, yes — nationally −0.4%, the third consecutive monthly fall since the March 2026 peak and the steepest since December 2022. But it's concentrated: Sydney, Melbourne and Canberra are falling while Perth, Darwin, Hobart, Brisbane and the regions were flat or rising.
The HVI is the price index itself. The Chart Pack is the monthly compendium around it — market size, listings, days on market, credit mix, rents, yields and a thematic chart of the month. Prices, versus prices in context.
They are independent indices: Cotality runs a daily hedonic index on a near-universal sales and valuation database; PropTrack (REA Group) runs a monthly hedonically adjusted automated-valuation model on the realestate.com.au listings ecosystem. They usually agree on direction but differ on magnitude by 20–40 basis points per city per month.
The Bottom Line
The Cotality index confirms Australia's housing market peaked in March 2026 and is now in an orderly, Sydney-and-Melbourne-led decline — June's –0.4% was the sharpest monthly fall since 2022, yet the index is barely below peak and rents are still rising fast enough to expand yields. For investors this is a cycle phase that rewards patience and segment selection: maximum negotiating leverage in the big two capitals, fading momentum in the boom capitals, and the first genuinely improving yield arithmetic since 2023. The next HVI (~1 August) shows whether the grind steepens; the 11 August RBA decision decides what comes after.
Disclaimer
This page is general information only and does not constitute financial or tax advice. Consider your circumstances and seek professional advice before acting.
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