It's official: the price of the average freestanding home in an Australian capital city is now a number with seven digits.median combined capital house priceYear-on-year that represents growth of more than 25 per cent, smashing all existing records and outstripping the growth of units more than three times over.COVID-19 lockdowns and extraordinary demand have pushed house prices across the $1 million line.
"Demand continues to outstrip supply across a majority of the cities however rapid price growth and affordability issues are likely to shift demand in 2022.In Hobart the median house price is now $752,110 – a staggering 34.6 per cent year-on-year growth. "The rapid escalation in price is proving to be a significant financial barrier to entry for buyers and upgraders against a backdrop of low wage growth. Housing affordability will continue to weigh on demand throughout 2022."Huge auction attendances have helped lift prices despite extensive COVID-19 restrictions.Melbourne's median house price is now a record $1.1 million, Brisbane's is now $792,065 and Adelaide's is a record $731,547.
Every single capital city recorded year-on-year growth in 2021, while only Darwin failed to edge higher in the December quarter. The median house price in the top end capital is now $645,487 – only slightly more expensive than the cheapest capital in the country in Perth, where the median house price is $612,348.
Inner Melb - $1M is a knock down / rebuild at best ! In fact your getting the wreckers out for $1.4-$1.6M homes.
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Australia's capital city median house price smashes $1 million markIt's official: the price of the average freestanding home in an Australian capital city is now a number with seven digits. 9News
Source: 9NewsSyd - 🏆 23. / 51 Read more »
Australia's capital city median house price smashes $1 million markIt's official: the price of the average freestanding home in an Australian capital city is now a number with seven digits. 9News Ridiculous and totally unsubstainable. A housing affordability crisis is already upon us. Ping TheBubbleBubble Forever saving for a deposit where the goal posts continue to move and it becomes increasingly harder to purchase a house. Feels like nothing is relevant in this country anymore. Prices of everything inflates but most peoples salaries stay the same. There’s no balance.
Source: 9NewsAUS - 🏆 10. / 72 Read more »
Australia's capital city median house price smashes $1 million markIt's official: the price of the average freestanding home in an Australian capital city is now a number with seven digits. 9News
Source: 9NewsSyd - 🏆 23. / 51 Read more »
Australia's capital city median house price smashes $1 million markIt's official: the price of the average freestanding home in an Australian capital city is now a number with seven digits. 9News Ridiculous and totally unsubstainable. A housing affordability crisis is already upon us. Ping TheBubbleBubble Forever saving for a deposit where the goal posts continue to move and it becomes increasingly harder to purchase a house. Feels like nothing is relevant in this country anymore. Prices of everything inflates but most peoples salaries stay the same. There’s no balance.
Source: 9NewsAUS - 🏆 10. / 72 Read more »
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