House prices in Melbourne and Sydney are going down.

墨爾本與悉尼的房價正在下跌。

Banks raised interest rates three times since February. The government also changed tax rules. Now, fewer people want to buy houses. Experts think house prices will fall more this year.

銀行自二月以來已調高三次利率。政府也更改了稅務規定。現在想買房的人較少。專家認為房價今年將進一步下跌。

Some houses are already much cheaper. One house in Melbourne sold for 18% less than the old price. In Sydney, fewer people are buying houses at auctions. Some prices fell by 10% or 15%.

有些房子已經便宜許多。墨爾本的一處房產成交價比原價低了 18%。在悉尼，在拍賣會上買房的人數減少了。部分價格下跌了 10% 或 15%。

Some people think this is a good time to buy. They say houses are cheap now. Other people are afraid. They wait because they think prices will go down more.

有些人認為現在是買房的好時機。他們說現在房價很便宜。而其他人則感到擔憂，他們選擇等待，因為認為價格會進一步下跌。

House prices in big cities are falling because of money problems. Experts do not know when this will stop.

大城市的房價因財務問題而下跌。專家並不確定何時會停止。

The residential property markets in Melbourne and Sydney are currently seeing a decrease in property values.

墨爾本與悉尼的住宅房地產市場目前正出現房價下跌的情況。

The current drop in property prices is caused by several economic pressures. Specifically, three interest rate increases since February, along with government changes to tax rules regarding negative gearing and capital gains, have reduced the number of willing buyers. Consequently, Domain's forecasts for 2027 predict that house prices will fall by 4% to 8% in Melbourne and up to 7% in Sydney, while apartments in both cities are expected to decrease by about 3%.

目前的房價下跌是由於幾項經濟壓力所造成的。具體而言，自二月以來的三次調息，加上政府對負扣稅（negative gearing）與資本利得稅相關稅務規則的修改，減少了願意買房的人數。因此，Domain 對 2027 年的預測顯示，墨爾本的房價將下跌 4% 至 8%，悉尼則最多下跌 7%，而兩座城市的公寓預計將下跌約 3%。

Recent sales data suggests that actual price drops may be even higher than these predictions. In Melbourne, expensive properties have shown significant instability; for example, a home in Strathmore sold for $5.3 million, which was 18% lower than previous price guides. Similarly, a house in Mount Eliza lost 16% of its value in less than three years. In Sydney, this trend is clear as auction success rates have fallen to a five-year low of 47%, with some agents reporting price cuts between 10% and 15%.

最近的銷售數據顯示，實際跌幅可能比這些預測更高。在墨爾本，高價物業表現出明顯的不穩定性；例如，Strathmore 的一處房產以 530 萬美元成交，比之前的參考價低了 18%。同樣地，Mount Eliza 的一處房產在不到三年的時間內價值下跌了 16%。在悉尼，這一趨勢很明顯，拍賣成功率跌至五年最低的 47%，部分房產經紀報告價格下調了 10% 至 15%。

Opinions among experts are divided. Some market participants emphasize that it is now a 'buyers' market' and believe prices have stopped falling. However, others warn that the market is still unstable. Furthermore, a lack of competitive bidding has made potential buyers hesitant, as some are waiting for prices to drop even further. On the other hand, industry professionals argue that these discounts offer a great opportunity for long-term investment.

專家意見分歧。部分市場參與者強調目前是「買方市場」，並認為價格已停止下跌。然而，其他人則警告市場仍然不穩定。此外，由於缺乏競爭性競價，使得潛在買家猶豫不決，因為有些人正等待價格進一步下跌。另一方面，業界專業人士則認為這些折扣為長期投資提供了極佳的機會。

House prices in Australia's largest cities are falling due to financial and government constraints, although experts disagree on how long this trend will last.

由於財務與政府限制，澳洲最大城市的房價正在下跌，儘管專家對於這一趨勢將持續多久持有分歧意見。

The residential property markets in Melbourne and Sydney are currently experiencing a downward correction in asset valuations.

墨爾本與悉尼的住宅房產市場目前正經歷資產估值的向下修正。

The current contraction in property valuations is attributed to a confluence of macroeconomic pressures. Specifically, the implementation of three consecutive interest rate increments since February, alongside federal budgetary adjustments regarding negative gearing and capital gains tax discounts, has diminished buyer appetite. Consequently, Domain's FY2027 forecasts anticipate house price declines of 4% to 8% in Melbourne and up to 7% in Sydney, with units in both cities projected to decrease by approximately 3%.

目前的房產估值縮減歸因於宏觀經濟壓力的共同影響。具體而言，自二月以來連續三次調高利率，加上聯邦預算針對負扣稅（negative gearing）與資本利得稅折扣的調整，削弱了買家的意願。因此，Domain 對 2027 財年的預測預計墨爾本的房價將下跌 4% 至 8%，悉尼最高下跌 7%，而兩座城市的公寓單元預計將下跌約 3%。

Empirical data from recent transactions indicates that actual depreciation may exceed these projections. In Melbourne, high-value assets have demonstrated significant volatility; for instance, a property in Strathmore sold for $5.3 million, representing an 18% reduction relative to previous price guides. Similarly, a Mount Eliza residence saw a 16% decline in value over a period of less than three years. In Sydney, the trend is mirrored by a decline in auction clearance rates to a five-year nadir of 47%, with some agents reporting localized price reductions between 10% and 15%.

近期交易的實證數據顯示，實際貶值幅度可能超過這些預測。在墨爾本，高價值資產表現出顯著的波動性；例如，Strathmore 的一處房產以 530 萬美元成交，較之前的價格指南降低了 18%。同樣地，Mount Eliza 的一處住宅在不到三年的時間內價值下跌了 16%。在悉尼，拍賣成交率跌至五年低點 47%，反映出同樣趨勢，部分房產經紀報告局部地區價格降幅在 10% 至 15% 之間。

Stakeholder positioning remains bifurcated. While some market participants characterize the current environment as a 'buyers' market' and suggest that valuations have reached a floor, others caution that the market remains volatile. There is a noted divergence in buyer behavior, where a lack of competitive bidding has induced a psychological hesitation among prospective purchasers, potentially delaying acquisitions in anticipation of further depreciation. Conversely, industry professionals argue that the current discounts provide a strategic entry point for long-term capital appreciation.

利益相關者的定位依然分歧。部分市場參與者將目前的環境描述為「買方市場」，並認為估值已觸底，而其他人則警告市場依然不穩定。買家行為出現明顯分歧，競爭性出價的缺乏導致潛在買家產生心理猶豫，可能會為了等待進一步貶值而推遲購屋。相反地，業界專業人士認為目前的折扣為長期資本增值提供了策略性的入場時機。

Residential prices in Australia's primary urban centers are declining due to fiscal and monetary constraints, though the duration of this trend remains a subject of professional debate.

由於財政與貨幣限制，澳洲主要都市中心的住宅價格正在下跌，儘管此趨勢的持續時間仍是專業人士爭論的議題。