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flag In early 2026, major Australian cities saw median home prices exceed $1 million due to high demand and low supply, despite rising interest rates.

flag In early 2026, Sydney, Melbourne, Brisbane, Canberra, and Perth all saw median house prices exceed $1 million, driven by tight supply and strong demand despite rising interest rates. flag Sydney hit nearly $1.6 million, Brisbane reached a record $1.15 million, Melbourne was at $989,356, and Canberra at $1.03 million, with Perth and Brisbane posting annual gains of 18.4% and 15.1%. flag Rent increases have outpaced inflation, with national rents up over 42% in five years and vacancy rates low across major cities. flag The Reserve Bank faces pressure to raise rates, though a hike may be limited. flag The government unveiled a $668 million housing package, including infrastructure for 4,000 homes in Adelaide, as affordability remains a key challenge.

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