Home prices fall for second month as Sydney drops 1.4%
Plus: streaming services launch new Australian content as the Commonwealth Games wrap up.
TL;DR
- Housing prices fell 0.7% in July with Sydney down 1.4%, the worst two-month stretch since December 2022, as higher rates suppress demand.
- Economists now widely expect the Reserve Bank to hold rates at 4.35% through 2026, with the first cut expected around mid-2027.
- Streaming services launch major content in August, including Netflix's My Brilliant Career period drama and Reacher Season 4 on Prime Video Australia.
- Australia's Block returns for season 22 alongside Australian and international titles across streaming platforms.
Business and economy
Housing market weakens as rates stay high
Australia's housing market worsened in July with prices down 0.7% month-on-month—the worst two-month stretch since December 2022. Sydney led with a 1.4% drop, Melbourne fell 2.6%, while Perth, Adelaide and Brisbane posted smaller gains. Economists now expect rates to hold at 4.35% through 2026, with the first cut arriving around mid-2027. (via Bloomberg)
Entertainment
The Block returns and streamers deliver August slate
The Block returns for its 22nd season as Netflix launches My Brilliant Career, a period drama following Sybylla's rebellion against societal expectations. Prime Video delivers Reacher Season 4 while local productions like The Birthday Trip—a satire of Sydney finance—arrive alongside blockbusters. Film Lab: New Voices finalists progress toward production awards backed by South Australian Film Corporation. (via Broadsheet)
