Australia's home prices fell 0.1% in May 2026 as three consecutive rate hikes and new investor tax reforms constrained buyer demand, pushing auction clearance rates to 2020 lows. Despite this softening, regional suburbs are capturing strong buyer interest—Canberra's Oxley saw searches surge 70% year-over-year, alongside significant gains in lifestyle destinations across all major cities. For proptech platforms and developers, this bifurcation signals sustained demand concentration in affordable, spacious suburbs, indicating potential resilience in secondary markets even as core urban centers cool.
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