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The Latest My Housing Market Stats

The Latest My Housing Market Stats

Key takeaways

The national capital city median house price increased by 0.7% over the November quarter compared to the October quarter, and is now $0.7 higher than the previous peak price recorded over April 2022.

All capital cities reported increases in median house prices over the November quarter, with the exception of Melbourne where prices were steady. Hobart, Canberra and Darwin are reporting annual declines.

In November 2023, median house prices in Sydney, Melbourne, Brisbane, Adelaide, Perth, Perth, Darwin, Canberra, and Adelaide will be $1,085,389, down from $1,085,389 in November 2022.

In November 2023, median house prices in Sydney, Melbourne, Brisbane, Adelaide, Perth, Perth, Darwin, Canberra, and Adelaide will be $1,085,389, down from $1,085,389 in November 2022.

Quarterly median unit prices for November 2023 show that Sydney, Melbourne, Brisbane, Adelaide, Perth, Canberra, Hobart and Darwin have recorded the highest annual unit price growth.

Capital city housing markets have continued to report strong results over November, with house and unit prices increasing over ten consecutive quarters. Although declining affordability is impacting buyers, the spring housing market continues to report robust results for most capitals.

Capital city housing markets will continue to report positive results over the remainder of 2023, with chronically undersupplied housing markets placing upward pressure on home prices and rents.

National house prices have continued to record strong results over November although growth rates in most capitals have eased marginally compared to the previous month’s robust results.

The national capital city median house price again increased sharply by 0.7% over the November quarter compared to the October quarter – rising to $1,085,389, according to the latest data from My Housing Market.

The November result was the 10th consecutive rise in monthly national house prices, with the increase just below the 0.9% growth rate reported over October which was the fastest increase since June.

National house prices are now 7.4% higher than reported over the November quarter 2022, have increased by 7.9% over 2023 so far, and are now 0.7% higher than the previous peak price recorded over April 2022.

National Quarterly Median House Price

All capitals reported increases in median house prices over the November quarter with the exception of Melbourne where prices were steady.

Hobart was the top performer higher by 2.9% followed by Perth up 1.9%, Adelaide higher by 1.1%, Brisbane up 0.9%, Sydney 0.7% higher, with Canberra and Darwin increasing by 0.5% and 0.1% respectively over the month.

House prices in most capitals are higher than reported over November 2022 although Hobart, Canberra and Darwin are reporting annual declines – down by 4.4%,1.9% and 0.2% respectively.

All capitals except Hobart and Darwin have recorded house price growth over this year to date, with Perth the top performer higher by 13.5% followed by Sydney and Adelaide each up 10.3%, Brisbane higher by 9.0% with Melbourne and Canberra by 3.4% and 0.5% higher respectively.

Quarterly Median House Prices November 2023

Median Month This Year Full Year Previous Peak
Sydney $1,568,850 0.7% 10.3% 9.3% -0.6%
Melbourne $1,062,766 0.0% 3.4% 3.2% -3.4%
Brisbane $862,819 0.9% 9.0% 8.1% 0.9%
Adelaide $853,265 1.1% 10.3% 11.0% 1.1%
Perth $774,988 1.9% 13.5% 14.0% 1.9%
Hobart $696,758 2.9% -2.7% -4.4% -9.7%
Darwin $641,264 0.1% -1.8% -0.2% -3.4%
Canberra $969,306 0.5% 0.5% -1.9% -8.8%
National $1,085,389 0.7% 7.9% 7.4% 0.7%

National unit prices were again higher over November, rising by 0.4% and followed the sharp October increase of 1.0%.

The national unit price is now at $627,596, and 5.2% higher than the November 2022 result.

National Quarterly Median Unit Price

Capital city unit prices were again mostly higher over November, with Perth and Canberra the top performers each up by 1.3%, followed by Brisbane higher by 1.1% and Melbourne up 0.8%.

Sydney unit prices were steady over the month with prices down in Hobart, Adelaide and Darwin by 0.4 %, 0.6% and 1.8% respectively.

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