The Capital city median house price increased by 1.1% for the month of October, reaching a staggering record high of $681,640, according to ANZ research.
Melbourne and Sydney median house prices increased by 2.2% and 1.2% respectively and were pointed out as the main reasons for the price jump. All other capital cities increased less than 1% or dropped in value. Sydney leads all capital cities with a median house value of $868,866, while Hobart has the cheapest, at a value of $340,461.
Read more about this on the Property Observer website.