Donut Day: national property growth arrives at landmark turning point
The era of broad national property growth appears over, with 2026 instead emerging as a market defined by sharp localised winners, weakening prestige markets and persistent housing undersupply.
Property investors looking for appetising returns may have to diversify their strategy. (Image source: HobbitArt/Shutterstock + API Magazine)
The Australian residential property market has officially arrived at a major cyclical turning point.
For the first time since the early phases of the 2025 rate-cutting cycle, national home value growth has flattened to a dead stop. Over the recent 28-day rolling period, the five-city aggregate index recorded exactly 0 per cent growth—a milestone property analysts have dubbed Donut Day.
According to the latest May 2026 data from Cotality, the Na…
