US EditionHow the Property Market Became Millionaires’ Row
- Australia's average home price surpassed A$1 million for the first time in the March quarter 2025, marking a historic milestone nationwide.
- This milestone followed years of housing undersupply worsened by pandemic-related material and labor shortages, alongside recent Reserve Bank interest rate cuts boosting demand.
- Home prices vary by state, with NSW leading at A$1.25 million, Queensland second at A$945,000, and Western Australia showing the highest growth of 13.4 percent in the last year.
- Matthew Hassan from Westpac noted house price expectations rose to the highest level since 2013, with over three-quarters of consumers anticipating further increases.
- The over-A$1 million average accentuates ongoing affordability challenges that the government aims to address by overhauling planning schemes and reducing building regulations to stimulate construction.
Insights by Ground AI
Does this summary seem wrong?
12 Articles
12 Articles
All
Left
3
Center
2
Right
2
The Canberra TimesReposted by 
The Queenslander
The QueenslanderAverage home prices hit $1m with more growth to come
The average price of a home in Australia has hit $1 million after a decade of growth, though...
·Canberra, Australia
Read Full Article
Sydney Morning HeraldReposted by 
The Age
The AgeAverage Australian home value passes record $1 million
Despite growth in the number of residential homes and a slowdown in price growth, the value of Australian homes across all states climbed in the first three months of the year.
·Sydney, Australia
Read Full Article
Coverage Details
Total News Sources12
Leaning Left3Leaning Right2Center2Last UpdatedBias Distribution43% Left
Bias Distribution
- 43% of the sources lean Left
43% Left
L 43%
C 29%
R 29%
Factuality
To view factuality data please Upgrade to Premium
