According to The Australian Financial Review, Brisbane’s median house price will surpass the $1 million mark for the first time within the next three months and Perth will become a million-dollar city by June next year as their hot housing markets hit new peaks, Domain says.
Melbourne is also on track to hit a new high by the end of December if values continue to gain momentum. However, house price growth in Sydney and Adelaide is likely to moderate as affordability worsens due to higher interest rates and previous rises in value. Nicola Powell, Domain’s chief of research and economics said Brisbane and Perth will achieve their million-dollar milestones earlier than expected after their median house prices surged by 4 per cent and 6.6 per cent in just three months, respectively. https://www.afr.com/property/residential/brisbane-s-median-house-price-to-hit-1m-by-september-20240719-p5jv1q
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