Cotality has revised its dwelling value data for Perth downward, resulting in the city recording a meaningful decline. Justin Fabo from Antipodean Macro illustrates the revision below:Following the revision, Perth’s daily dwelling values index has declined by 0.6% from its peak in mid-May. AdvertisementPropTrack’s monthly dwelling values index has also reported a 1.7% decline from the March 2026 peak, following four consecutive monthly falls:As illustrated below, Perth’s quarterly rate of decline (shown in purple) is the third fastest among the five major capitals, behind Sydney’s and Melbourne’s but ahead of Brisbane’s and Adelaide’s:AdvertisementThus, Perth is no longer the nation’s housing holdout, with home values experiencing a meaningful price correction. With for-sale listings ballooning by 31.5% over the past year, Perth dwelling values will continue to fall. Advertisement