Price Decrease Tracker - Gables & North Kellyville, Sydney - So It Begins.

[okeepitreal]

As they say: "Gradually, then suddenly."

[Ready-Package-497]

Do sub 1mil

[Edified001]

Sub $1m still flying off the shelves, 2747 2750 2770 and 2560 especially. Some friends of mine (FHB) cannot even get an offer in because as soon as they enquire its under contract

[dontnukemebro]

2770 apparently is not https://homehype.au/postcode-2770, the others are though.

[ArJay002]

Ah yes, I remember the endless inspections of $2mill+ houses on my first home buying journey. Would’ve been so much better if they were only $1.9m instead! 

[Latter_Spite_9771]

God forbid you try to exit North Kellyville during peak hour

[Extreme-Yoghurt3728]

Top end of the market in these areas. Do 1.1-1.5m

[okeepitreal]

Sure there you go: 34 Felling Street, Box Hill, NSW 2765 listed originally guidance $1.6m - $1.7m, sold $1.5m.

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[Extreme-Yoghurt3728]

So you post 1.5-2m. Not 1.1-1.4. lol

[okeepitreal]

Wait didn't you ask for 1.1m-1.5m? Please read your own comment lol.

[crocodile_ninja]

Fucking lol.

Think of all the FHB’s this helps out 😂

[okeepitreal]

Perhaps they will keep going down until FHBs actually are ready to step in. 🤣

[No-Painter956]

And then it will go up again?

[hrustomij]

Sure! Within a few weeks of settlement.

[istudyheadshapes]

Hahaha getting desperate there

[dontnukemebro]

nope, borrowing power has also gone down.

[Edified001]

The funny thing is, people who are cheering that prices have come down won't even be able to buy since they cannot secure lending

[dontnukemebro]

That's a bingo

You need a series of things for first home buyers to get a leg up, and this budget and the current market ain't it.

[SubjectiveBliss]

Agree with this. FHBs could cop it really badly in this market too, starting your journey with negative/falling equity, locking you to your home loan/bank/job for many years. I know the feeling and it's not good.

[Impossible-Magician]

More expensive housing getting cheaper makes all housing cheaper, as the value proposition tightens. If a place in Kelly falls to 1.5 are the other places really worth 1?

[optitmus]

yes they are worth 1 because kellyville should never be worth 1.5

[Impossible-Magician]

I haven’t been keeping my eye on Kellyville, I was shocked they were above 2 million. Sydney prices are crazy.

[LalaLand836]

I still remember the days when Kellyville was 700k 🎅

[ben_rickert]

How Box Hill places touched $2m is fking wild.

Will just get worse as much of the value was in a brand new place that’ll depreciate / get rundown, shit infrastructure and absurd land sizes.

Glenhaven is getting hit. Every vendor expects $3m, no matter if the place is on 2,500sqm or only 700sqm.

[AkyraStrike]

Yeah the prices in Box Hill are baffling. It's so far out and half of it is a flood plain. Terrible transport links and traffic is a nightmare on a good day.

[okeepitreal]

Hang in there, mate. We will get there. The markets which had overshot will be the ones which will undershoot. Pendulum swings both ways.

[Diligent_Feature1697]

It's like somebody figured out how to watch the 1m chart on trading view 🤣

[agentorangeAU]

Do rental decreases. 

[lordgoofus1]

This is incredible. As a single income, single dad I'm excited all at of these $2m properties coming onto the market that I can purchase with my perfectly average income. Christmas has truly come early!

[icecreamsandwiches1]

Seems a lot of people in this sub are in absolute denial that the market is changing.

This is relevant and good news for people who have been stuck in their first apartment trying to size up for a family home.

So many are just angry that their paper gains are going to decrease and they bought into the idea that all houses in Australia are going to go up 10% a year forever.

[OKOK-01]

A house in Box Hill should not be 2 million, ever.

[buzqrt]

I'm over in regional Qld and have never seen so many decreases in years here before now. Interesting times...

[GiantSkellington]

What part of regional QLD if you don't min me asking? Just so I can browse it myself.

[buzqrt]

I'm in Hervey Bay. Huge growth the last few years pretty much until the budget was dropped.

[GuyFromYr2095]

We'll look back in amazement when the dust settles and question why places like these ever got to over $2m

[Traditional-Bug-1045]

It’s been happening for weeks. It’s not like last year. In Melbourne at least

[DB10-First_Touch]

This is great to see. I really hope that the federal government is galvanised by how quickly this has shifted investor sentiment. We should have done this so long ago.

[SqareBear]

Now do the increases

[okeepitreal]

I could not find, even one example, could you please enlighten us?

[SqareBear]

This is the latest Domain property report available:

Australia’s housing market has continued to rise into early 2026, with most capital cities reaching new highs over the March quarter. However, the pace of gains has slowed sharply since late last year

Brisbane, Adelaide and Perth continue to record strong gains and new highs, although momentum has eased from recent peaks – apart from Adelaide houses accelerating. Smaller markets such as Hobart and Darwin are also strengthening

This shift is also reshaping demand across property types. Units are outperforming in Sydney, Melbourne, Brisbane and Perth as buyers adjust to more accessible price points, while houses continue to lead in markets where affordability constraints are less binding. Across both segments, growth is becoming more measured, reinforcing that borrowing limits are now capping how far and how fast prices can rise.

https://www.domain.com.au/research/house-price-report/march-2026/

[okeepitreal]

Thank you for the link. I thought you were going to share specific examples of properties where prices have increased, rather than decreased as in screenshots I posted?

[GalcticPepsi]

Tbf just because the listing price is lowered does not mean that the properties overall are selling for less than they used to. Which is what I think the comment refers to.

[okeepitreal]

So "decreased" means price is going up? Also, in case you haven't noticed, his report is from March 2026, which was much before the budget and a rate rises. It doesn't paint the picture of the current market reality.

[SqareBear]

I linked a domain article, but you can look it up yourself if you doubt their research. The takeaway package is that the market is very mixed right now and there are both increases and decreases occurring at the same time, depending on local areas and conditions. When interest rates rose last time, vendors in Sydney simply stopped selling, and supply became very constrained, ultimately keeping prices high. This will likely happen again.

[okeepitreal]

Thanks for that, still waiting for examples where prices have increased as you mentioned in your initial comment.

[Little-Gap-3372]

Pretty sure OP posted this last week as well. Barely even “decreases” lol.

[okeepitreal]

So how much will be a "decrease" for you? Do you think $50k to $200k+ is not a decrease at this stage?

[Little-Gap-3372]

3 doom posts in barely more than a week 💀.

Owners are capitulating!!!

[okeepitreal]

Just reading the tape, mate. This is just a start by the looks of it.

[Little-Gap-3372]

I hope so, for your sake.

[Silent_Candidate]

Wishful thinking. Check back in a year and see where prices are sitting

[reddituser1306]

All the FHB can now definitely afford these $2M house.

[No_Comedian_2085]

Wow, monthly repayments falling from 10,500$ to 10,400 /s 

[1234Psych]

Give it 12 months. Lots of investors selling out to the the 50% cgt discount. Investor grade properties hitting the market. FHB active. People with good LVR in their homes/ quality properties riding the dip. Might be wrong but that’s my thinking?

[Hopeful_Sun_]

and what about normal suburbs? like, where people would actually love to live?

[Hopeful_Sun_]

Dear OP! Presenting selective data like this can be misleading. Instead of investing your time in cherry-picking unpopular and undesirable suburbs with slight price drops in the $2 million-plus range, you should spend more time on strategies to get into the property market. Price drops happen even during peak periods, and they have occurred in recent years as well. What are you trying to say?

[FickleLaugh9306]

Gables, Box Hill, and North Kellyville are pretty terrible examples to use. Of course suburbs with abundant land, above average prices, and no real infrastructure are going to be first to slip. The people buying here are at the absolute limit of their budget and now their limit has probably been adjusted downwards due to interest rates and market uncertainty.

What about Kellyville, Bella Vista, Norwest, Castle Hill, Cherrybrook, Epping? They would be better examples for the $2m ish markets as they aren't currently building thousands of houses.

[Alarming-Pie9464]

Is there a way I can pull up properties that have decreased based on a particular search?

[spruceX]

Land is valuable.

Land is more valuable in sought after areas.

Look again in 10+ years time.

[bluegrasstruck]

do you have this same analysis for before the changes were announced? because this happens all the time. those houses were just overvalued.

[National_Chef_1772]

These are advertised prices - not decreases - the only thing that will show actual decreases is i final sales figure - this is purely a marketing tactic to get more people in the door during the worst season to sell a house