Melbourne and Canberra crash through $1 million median house price barrier

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PHOTO: Australian property market

Melbourne and Canberra have joined Sydney in the $1 million-plus median house price club as the nation’s property market soars into overdrive.

The latest Domain House Price Report, for the June quarter, shows that in just three months Melbourne’s median house price increased by $41,000 to $1.02 million.

The most affordable area to purchase a house is in the West of Greater Melbourne at $657,500 followed closely by the North West at $694,000.

**In just three months Melbourne’s median house price increased by $41,000 to $1.02 million. (Great Ocean Properties)**

Melbourne remains the second most expensive city in the country to buy a house, behind Sydney where the median house price for the June quarter grew to an eye-watering $1.4 million.

Surprise up-and-comer Canberra is hot on Melbourne’s heels with a median house price lifted 10.4 per cent to $1.015 million.

Other notable mentions included Brisbane ($678,236), Adelaide ($629,728), Hobart ($646,301) and Darwin ($608,519).

Australia’s Median House Prices – June Quarter 2021*

Capital City:	Median House Price:	Quarter-On-Quarter Increase:
Sydney	$1,410,133	+ 8.2 per cent
Melbourne	$1,022,927	+ 4.1 per cent
Brisbane	$678,236	+ 5.0 per cent
Adelaide	$629,728	+ 5.4 per cent
Canberra	$1,015,833	+ 10.4 per cent
Perth	$595,823	+ 1.0 per cent
Hobart	$646,301	+ 6.6 per cent
Darwin	$608,519	+ 8.9 per cent
National	$955,927	+ 5.8 per cent