Praying for a property plunge: 2 in 3 Australians want house prices to drop
Key takeaways
- 14.4 million people say they support the objective of bringing house prices down.
- Experts from Finder's RBA Cash Rate Survey are less likely to support a drop in prices.
- Australians without a mortgage expressed greater support for house prices falling than those with a mortgage, but not by as large a margin as one might think.
The majority of Australians want to see property prices come down, according to new research by Finder.
A Finder survey of 1,006 respondents revealed 2 in 3 Australians (66%) support the objective of bringing house prices down.
The research shows 1 in 3 (34%) 'strongly support' the objective of bringing house prices down, while a further 32% say they 'support' it.
That's 14.4 million people who want values to fall.
Younger Australians are the most likely to welcome a drop in prices, with 45% of gen Z 'strongly' supporting the objective, and 33% saying they 'support' it.
That's compared to 28% of baby boomers who 'strongly' support the objective, and 29% who say they 'support' it.
Australian house prices have fallen for a sixth straight month in September, declining 5.2% below March's peak, according to Cotality.
Sarah Megginson, personal finance expert at Finder, said a further house price correction would be welcomed by most Australians.
"Even when you include the recent correction, property prices have surged far faster than most people's pay packets, leaving would-be buyers needing bigger deposits and bigger mortgages just to get through the front door.
"If Aussies get what they want, we may have to amend the expression, 'safe as houses'."
Experts from Finder's RBA Cash Rate Survey were less likely than everyday Australians to say they support the objective of bringing house prices down.
Almost half of panellists (48%, 12/25) who weighed in said they 'support' or 'strongly support' the objective, while 24% (6/25) 'oppose' or 'strongly oppose'.
A further 28% (7/25) are undecided or neutral.
The federal government's proposed reforms to negative gearing and capital gains tax discounts for property investors have been credited with taking some heat out of demand.
"Investors have had a huge influence on the property market, so anything that takes some heat out of investor demand could give first-home buyers a better shot at getting their foot in the door," Megginson said.
However not all Australians want to see house prices come down – 6% 'oppose' a price correction, while 3% say they 'strongly oppose' the objective of a fall in national house prices.
The research found 1 in 4 (24%) are undecided or neutral.
Megginson said a cheaper house doesn't automatically mean an affordable house.
"Buyers still need to get through the deposit hurdle, service the loan and survive the other costs of home ownership.
"With four cash rate hikes so far in 2026 and potentially another on the way, buyers should factor higher repayments into their budget and compare home loans carefully before committing to a property."
Australians without a mortgage (69%) expressed greater support for house prices falling than those with a mortgage (59%), but not by as large a margin as one might think.
Just 8% of non-mortgagees said they oppose or strongly oppose the objective, while 13% of those with a mortgage felt that way.
Credits
- PR & Insights research team: Taylor Blackburn, Kate Boddington, Natascha Kwiet-Evans, William Capada
- Survey operation: Qualtrics
Sources
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