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Latest Median Home Values News

House prices hit 20-year record for annual growth as rates climb

House prices have increased at the highest rates in two decades, with a rise of 25.1 per cent for the year ending December 2021, according to the Real Estate Institute of Australia.

Aerial view of Australian Parliament House in Canberra, the capital city of Australia.
Canberra is the auction capital, recording the highest preliminary auction clearance rate among the big cities.

House prices have increased at the highest rates in two decades, with a rise of 25.1 per cent for the year ending December 2021, the latest Real Estate Institute of Australia’s (REIA) Real Estate Market Facts has found.

Real Estate Institute of Australia (REIA) President, Hayden Groves, said the weighted average median house price for the eight capital cities increased to $1,021,710 for the December quarter.

“Over the quarter, the median house …