Share price weakness is not always a bad thing for income investors.
When dividend shares fall, their yields can become more attractive, provided the underlying earnings and distributions remain sustainable.
With that in mind, here are three ASX dividend shares that have been sold down heavily and could be top value picks for Aussie income investors:
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Charter Hall Long WALE REIT (ASX: CLW)
The first ASX dividend share to look at is Charter Hall Long WALE REIT.
This property trust has fallen approximately 25% from its high.
The Charter Hall Long WALE REIT owns a diversified portfolio of properties leased to high-quality tenants across sectors including office, industrial, logistics, and social infrastructure. Its focus on long leases gives it greater visibility over future rental income than many property names.
That is important in an uncertain market. Investors have been cautious on real estate because of higher interest rates, funding costs, and valuation pressure. But long-dated leases can help smooth the income profile while conditions remain unsettled.
Charter Hall Long WALE REIT is forecast to offer a distribution yield of approximately 7.6% in FY 2027.
Harvey Norman Holdings Ltd (ASX: HVN)
Another ASX dividend share that could be worth a look after recent weakness is Harvey Norman.
The retail giant's shares have fallen approximately 36% in 2026, leaving them well below recent levels.
Harvey Norman is exposed to household spending through furniture, electronics, appliances, bedding, and other home-related categories. That has not been an easy place to be while consumers have been dealing with cost-of-living pressures and higher interest rates.
But this is a business that has been through many retail cycles before. Its brand remains widely recognised, and its franchise model gives it a different structure from many traditional retailers. The company also owns a substantial property portfolio.
Harvey Norman is forecast to offer a fully franked dividend yield of approximately 7% in FY 2027.
Universal Store Holdings Ltd (ASX: UNI)
A third ASX dividend share for income investors to consider is Universal Store.
The youth fashion retailer is down approximately 35% from its 52-week high, amid broad weakness in discretionary retail shares.
Universal Store operates brands including Universal Store, Perfect Stranger, and Thrills. It has a clear customer focus, a growing store network, and an online channel that supports its reach with younger shoppers.
Fashion retail can be volatile. Trends change quickly, and consumer confidence can have a big impact on spending. But Universal Store has shown it can build strong brands and connect with its target market.
If trading conditions improve, the company could be well-placed to continue growing its dividend over the remainder of the decade.
Universal Store is forecast to offer a fully franked dividend yield of approximately 7.3% in FY 2027.
