House prices in Australia went down in June. Now, prices are falling in many parts of the country.

澳洲房價在六月下跌。現在，該國許多地區的房價都在下跌。

Prices fell a lot in Sydney and Melbourne. However, prices in Perth and Brisbane are still growing slowly. This is because there are not enough houses in those cities.

悉尼和墨爾本的房價大幅下跌。然而，珀斯和布里斯本的房價仍在緩慢增長。這是因為這些城市房屋不足。

Buying a home is now very hard. The bank raised interest rates three times. Food and energy now cost more money. People have less money to buy houses.

現在買房非常困難。銀行已三次調高利率。食物和能源現在成本更高。人們買房的資金減少了。

Investors are also worried. The government changed the tax rules. Because of this, fewer people are asking the bank for loans to buy houses. Also, building new houses costs too much money now.

投資者也感到擔憂。政府修改了稅務規則。因此，向銀行申請房貸買房的人數減少了。此外，現在建造新房的成本過高。

The housing market is shrinking. It is very difficult for people to buy homes in many cities.

房地產市場正在萎縮。在許多城市中，人們很難買到房子。

Australian home values showed a significant monthly drop in June, signaling a wider trend toward a national market decline.

澳洲房屋價值在六月出現顯著的月度下跌，預示著全國市場下跌的更廣泛趨勢。

The current downturn shows a clear difference in regional performance, mainly caused by the balance between available housing and changing buyer demand. Data from Cotality and PropTrack show that Sydney and Melbourne have seen the sharpest price drops, with Sydney values falling by 1.2 to 1.5 percent in June. In contrast, markets in Perth and Brisbane continued to grow, although the growth rate has slowed down. This difference exists because larger cities have more available properties, whereas medium-sized cities still face severe shortages.

目前的下跌顯示出區域表現有明顯差異，主因在於可用住房與買家需求變化之間的平衡。來自 Cotality 和 PropTrack 的數據顯示，悉尼和墨爾本的價格跌幅最為劇烈，悉尼價值在六月下跌了 1.2% 至 1.5%。相比之下，珀斯和布里斯本的市場繼續增長，儘管增長速度已放緩。這種差異的存在是因為大城市有較多可用物業，而中型城市仍面臨嚴重短缺。

Several economic challenges have combined to reduce demand. The Reserve Bank of Australia increased interest rates three times between February and May, which, along with rising living costs and global energy price instability, has limited what buyers can afford. Furthermore, the Housing Industry Association emphasized that affordability has reached its lowest point since 1994. In Sydney and Brisbane, mortgage payments now require approximately 2.1 times the average income.

數項經濟挑戰共同導致需求減少。澳洲儲備銀行在二月至五月間三次調高利率，加上生活成本上升和全球能源價格不穩，限制了買家的承擔能力。此外，房屋工業協會強調，負擔能力已達 1994 年以來的最低點。在悉尼和布里斯本，目前的房貸還款約需平均收入的 2.1 倍。

Market uncertainty has also increased due to federal budget changes regarding tax rules for investors. Westpac reports a 20 percent drop in investment loan applications, suggesting that investors are delaying their purchases. While the government asserted that these measures will encourage the construction of new homes to increase supply, developers claim that rising construction costs—increasing by 20 to 30 percent annually—and slow planning approvals are making new projects too expensive to build.

由於聯邦預算中關於投資者稅務規則的變動，市場的不確定性也隨之增加。西太銀行報告投資貸款申請下降了 20%，顯示投資者正在推遲購買。儘管政府聲稱這些措施將鼓勵興建新屋以增加供應，但開發商則稱，建築成本每年增長 20% 至 30%，加上規劃審批緩慢，使得新項目的建造成本過高。

The Australian housing market is currently facing a period of falling prices and lower affordability, although the impact varies depending on the city.

澳洲房屋市場目前面臨價格下跌與負擔能力降低的階段，儘管影響程度視城市而定。

Australian dwelling values recorded a significant monthly contraction in June, marking a broader transition toward a national market decline.

澳洲住宅價值在 6 月記錄到顯著的月度縮減，標誌著全國市場正向下跌方向轉型。

The current downturn is characterized by a divergence in regional performance, primarily driven by the interplay between supply constraints and demand volatility. Data from Cotality and PropTrack indicate that Sydney and Melbourne have experienced the most acute depreciation, with Sydney values declining by 1.2 to 1.5 per cent in June. Conversely, markets in Perth and Brisbane maintained positive growth, although the rate of appreciation has decelerated. This disparity is attributed to the relative abundance of stock in larger capitals compared to the acute supply deficits persisting in medium-sized cities.

目前的低迷情況呈現出區域表現的差異，主要是由供應限制與需求波動之間的相互作用所驅動。根據 Cotality 與 PropTrack 的數據，悉尼與墨爾本的跌幅最為嚴重，悉尼的價值在 6 月下跌了 1.2% 至 1.5%。相反地，珀斯與布里斯本的市場維持正成長，儘管升值速度已放緩。這種差異歸因於大型城市的庫存相對充足，而中型城市仍持續面臨嚴重的供應短缺。

Several systemic headwinds have converged to suppress demand. The Reserve Bank of Australia's implementation of three interest rate hikes between February and May, coupled with escalating cost-of-living pressures and geopolitical instability affecting energy costs, has constrained buyer capacity. Furthermore, the Housing Industry Association reports that affordability has reached a historical nadir since 1994, with mortgage servicing requirements in Sydney and Brisbane necessitating approximately 2.1 times the average income.

數個系統性不利因素共同作用以壓抑需求。澳洲儲備銀行在 2 月至 5 月間實施了三次升息，加上生活成本壓力增加以及影響能源成本的地緣政治不穩定，限制了買家的能力。此外，房屋工業協會報告指出，負擔能力已達到 1994 年以來歷史最低點，在悉尼與布里斯本，房貸還款要求約為平均收入的 2.1 倍。

Institutional uncertainty has been exacerbated by federal budget modifications to negative gearing and capital gains tax. Westpac reports a 20 per cent reduction in investment loan applications, suggesting a strategic deferral of acquisitions by investors. While the government asserts these measures are intended to pivot investment toward new construction to augment supply, developers cite rising construction costs—increasing by 20 to 30 per cent annually—and protracted planning approvals as significant impediments to project feasibility.

聯邦預算對負扣稅（negative gearing）與資本利得稅的修改，加劇了機構的不確定性。西太平洋銀行（Westpac）報告投資貸款申請減少了 20%，顯示投資者正採取策略性地延後收購。儘管政府主張這些措施旨在將投資轉向新建築以增加供應，但開發商指出，每年增加 20% 至 30% 的建築成本以及冗長的規劃審批程序，是影響項目可行性的重大障礙。

The Australian housing market is currently experiencing a period of contraction and diminished affordability, with the severity of price corrections varying by metropolitan region.

澳洲住宅市場目前正經歷收縮與負擔能力下降的階段，而價格修正的嚴重程度在不同都會區之間有所差異。