Australian capital city houses smash $1 million price barrier

Domain has released its December quarter house price report, which shows that the median Australian capital city house price has soared to $1,066,133 – up a whopping 6.5% over the quarter and 25.2% year-on-year:

Annual price growth in excess of 25% was recorded across all capitals except Melbourne and Perth.

As expected, unit prices experienced far softer price growth in 2021, rising 1.9% nationally over the December quarter and 7.7% growth year-on-year:

Obviously, the soaring values alongside the widening gap between unit and detached house prices will make it harder for both new entrants and upgraders alike in 2022.

Full results here.

Unconventional Economist

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