According to the Australian Bureau of Statistics (ABS), Sydney's property prices declined 2.2% over the quarter, while Melbourne's declined 2.3%.

This makes the mean price of residential dwellings $678,500, down from $690,200 in the March quarter.

ABS' Head of Prices Statistics Andrew Tomadini put the declines down to COVID-19.

"The number of residential property transactions fell substantially in the eight capital cities during the June quarter 2020, due to the effects of COVID-19 on the property market", said Mr Tomadini.

"All capital cities apart from Canberra recorded falls in property prices in the June quarter 2020."

Brisbane's declined -0.9%; Adelaide -0.8%; Perth -0.7%; Hobart -0.4%; Darwin -1.4%; Canberra +0.8%.

However, nationwide, residential property prices are still up 6.2% on the year to the June quarter 2020, with rises in all capital cities except Perth and Darwin.

Buying a home or looking to refinance? The table below features home loans with some of the lowest variable interest rates on the market for owner occupiers.

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Filters
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Extra Repayments Split Loan Option TagsFeaturesLinkComparePromoted ProductDisclosure
5.94% p.a.
5.98% p.a.
$2,978
Principal & Interest
Variable
$0
$530
90%
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 10% Min Deposit
  • Redraw
  • Extra Repayments
  • More details
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Dedicated loan specialist throughout the loan application.
 Disclosure
5.89% p.a.
5.80% p.a.
$2,962
Principal & Interest
Variable
$0
$0
80%
  • Built and funded by CommBank
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 20% Min Deposit
  • Redraw
  • More details
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
 Disclosure
5.99% p.a.
6.02% p.a.
$2,995
Principal & Interest
Fixed
$0
$0
60%
  • Owner Occupier
  • Fixed 3 Years
  • Principal & Interest
  • 40% Min Deposit
  • Redraw
  • More details
  • Competitive rates to help you save
  • A Dedicated Relationship Manager
  • Certainty of repayments with a fixed rate term
 Disclosure
5.93% p.a.
5.93% p.a.
$2,975
Principal & Interest
Variable
$0
$395
70%
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 30% Min Deposit
  • Redraw
  • More details
 Disclosure
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Important Information and Comparison Rate Warning
Important Information and Comparison Rate Warning
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With an average residential dwelling value of $498,500, Western Australia's mean dipped below the $500,000 mark for the first time since ABS began tallying this data in December 2011.

In the Northern Territory, average values were at $410,100, the lowest price recorded in the series' nine-year history.