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Properties in metropolitan Adelaide have hit a median $785,000 – a record amid skyrocketing rental prices, stubborn inflation and high interest rates.
MEDIAN
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House and unit rents have reached record heights in Brisbane, and experts warn the city now needs between 4000 and 8000 more rentals.
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They’re the Sydney suburbs where an apartment costs more than the typical Sydney house – but property buyers wouldn’t have it any other way.
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Perth’s real estate market has continued its runaway growth in May recording year-on-year growth of more than 24 per cent for houses and 20 per cent for units.
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Melbourne property prices are falling even as the rest of the country rises.
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The price of an Aussie home is now 6.60% more than it was in April last year, according to PropTrack.
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First home buyers are more reliant than ever on the bank of mum and dad and government schemes to buy a house.
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Sydney’s median house price has cracked a new milestone after surging to a record high of nearly $1,628,000.
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Homes in regional Australia have recorded stronger price growth than in capital cities in the past three months.
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As many as two in five property investors in inner-city Melbourne are selling at a loss, and many are in the red by tens of thousands of dollars.
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Real estate on the Gold Coast has broken the $1 million median barrier for the first time.
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Despite a perceived shortage of homes for sale, the Perth property market performed well in 2023, with 53,895 settled sales over houses, units and land.
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