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Where Are The Priciest Aussie Houses?

Tell him he's dreamin...

Where Are The Priciest Aussie Houses?

As temps continue to drop, house prices in Australia continue to rise.

Your average house in Australia costs $808,416.

National median house prices have increased 1.7 per cent, that is a massive 10.1 per cent higher compared to the same period last year!

The Domain Metro State of the Market Report has been released today, so let's look a bit closer at those figures.

Sydney

Where's the most expensive place to live?

Sydney takes the cake.

Or should we say the smashed avo, since that's what people seem to have to sacrifice to afford a house in the Harbour city.

The average Sydney home costs a new record $1,178,417.

Try saying that number really fast three times.

Sydney's median house price has increased by $132, 349 over the year to date - up 12.7 per cent.

As for renting, that's remained steady, on average it costs $550 to rent a place. It's still the most 'spenny though - and up to 30% more than Melbourne!


Melbourne

There's a lot of demand to live in this hip city, but it comes at a cost!

Make that a cost of $865,712 - yep that's the median house price, a new record, up 3.5 per cent over the June quarter!

Domain Chief Economist, Dr Andrew Wilson, reckons its excellent news for the

"Melbourne's property market continues to go from strength to strength, recording a remarkable 19 consecutive quarters of house price growth - a series record for any of the Australian capitals - with no signs of slowing down".

Rental prices are steady, at about $420 on average.

Brisbane

Certainly a very affordable capital compared to Melbourne and Sydney!

Median house prices are just down 0.1 per cent, with your average home costing $546,043.

It's been a slower start to the year for Brissy, but Domain's Chief Economist predicts things may pick up toward the end of the year.

Perth

The Perth market continues to be an under performer.

The average house price is at $555, 788. (Any Sydney siders out there looking for a tree change?)

Prices fell again over the June quarter, down by 1.8 per cent, so it's not looking great for home owners.

Dr Andrew Wilson says for price houses to go up, a lot will depend on a significant improvement in the local economy, before we see prices growth resuming.


Adelaide

Good news for home owners, slightly harder for those trying to crack into the housing market.

Median house price is now at $524,968 - that's up by 0.9 per cent.

As for renting, that's getting cheaper!

 

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