Property prices 'could become out of control'
With prices surging at their fastest pace since mid-2023, Australia’s major city housing markets could hit the $1 million median mark far sooner than expected.
First home buyers have become the most active segment of the property buying demographic. (Image source: Shutterstock.com)
Just five weeks ago I suggested that by the end of next year (2026), you won’t see a median house price under $1 million
in Australia’s ‘Big Five’ cities – Perth, Adelaide, Melbourne, Sydney or Brisbane.Today, I’m readjusting that thought, suggesting it may come sooner, especially given that house prices are increasing at the fastest rate we’ve seen since June 2023.
It’s seemingly no coincidence that the price growth comes exactly a month afte…
