Overview
- Domain’s September-quarter data show the fastest national price growth in nearly four years, with record medians in Sydney ($1.751m), Brisbane ($1.101m), Melbourne ($1.083m), Adelaide ($1.049m) and Perth ($981k).
- Brisbane overtook Canberra as the second-most expensive house market after a 3.7% quarterly jump, while Sydney posted a 3.4% rise to a new high.
- Perth’s median is within about $19,000 of $1 million, and Domain expects it to reach that milestone before the end of the year.
- Cotality reports roughly one in three suburbs now have seven‑figure medians, with 195 new entrants over the year and 63 of them in regional areas as high-value markets spread beyond traditional prestige postcodes.
- Analysts attribute momentum to three RBA rate cuts, historically low listings and the broadened 5% Home Guarantee; Cotality notes a $1m loan would require more than half of average pre‑tax income, and about 30% of sales over the past year were $1m or more.