It was a blockbuster year for bricks and mortar, as low stock levels and even lower interest rates fuelled a buying boom that saw the national median house price reach a record $994,579.
Dr Powell said while there was a marked city exodus in 2021, the majority of the population remained in the city for a range of reasons. The median house price in Melbourne’s north-east region rose 16.3 per cent to $820,000 in the year to September 2021, on Domain data. The top three most searched regions in the ACT were in Canberra, where its median house price growth outpaced Sydney’s.
Meanwhile, the median house price in the Launceston and North East region rose 32.4 per cent to $480,000 in the same period. And the region’s unit prices rose 27.1 per cent to $371,000.Charles Street/Lusy Production