The median house price for Australia’s combined capital cities has reached over a million dollars. Domain is of the opinion that market growth may have already peaked.
The latest research from Domain has indicated the combined median price across Australia’s state capitals has breeched $1 million for the first time, except Perth and Darwin.
The December quarter saw a rise of a whopping 6.5%. This equates to an annual rise last year of over 25%. House prices have risen three times faster than units over the past year.
The reasoning that prices may have peaked is also supported by looking at macro economic factors – such as increases in cost of living, supply issues, fuel prices and overall sharp increases in inflation along with the uncertainty of the pandemic finishing and what is in store for us next.
