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flag Australian house prices hit record highs, with Sydney's median home now costing $1.7 million.

flag House prices in Australia's major cities have hit record highs, with Sydney's median price reaching $1.7 million. flag All eight capital cities experienced simultaneous price growth for the first time in four years, driven by limited housing supply and population growth. flag Unit prices also saw their strongest quarterly growth in two years, while rents have risen by 40% over five years to $665 per week on average. flag Over 28% of households are facing mortgage stress.

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