Australia's housing market surged in May, with Sydney reaching a new record high and national home prices increasing by 0.8%.

Australia's housing market continued to surge in May with Sydney reaching a new record high. National home prices increased by 0.8% in May, marking the 16th consecutive month of growth. Sydney's median dwelling value broke a record, reaching $1,156,020, after a 0.6% increase in May. Low supply and a growing population have contributed to the rising home prices despite high borrowing costs.

June 02, 2024
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