Australia’s Median Home Value Reaches $800,000 Amid Slower Growth
Australia’s national median home value hit a record $800,000 in November, marking 23 consecutive months of growth. Prices rose 0.15% for the month and are up 5.53% year-on-year. However, growth has slowed due to higher stock levels, affordability constraints, and sustained interest rates.
Capital City Highlights
Hobart (+0.43%) and Adelaide (+0.40%) led November growth, while Melbourne (-0.07%) was the only capital to decline.
Perth, Adelaide, and Brisbane lead annual growth at 18.74%, 14.64%, and 12.56%, respectively.
Melbourne has underperformed due to higher taxes, unemployment, and more balanced housing supply.
Regional Areas Outpace Capitals
Regional markets grew 0.26% in November, compared to 0.11% in the capitals, with SA (+1.06%) and Tasmania (+0.65%) leading gains. Affordability and demand in areas like Queensland and WA continue to drive strong growth.
Outlook Prices are expected to rise moderately, supported by population growth, labour market resilience, and tight housing supply. Once interest rates ease, confidence and buyer activity are likely to increase, maintaining positive momentum.
