National housing markets have consolidated the growth recorded over the previous month with a generalised surge in home prices reported over the March quarter.
According to the latest data from My Housing Market, the national capital city median house price increased sharply by 2.7% to $1,125,923 in the March quarter.
The national quarterly house price has now increased over 13 of the past 14 months and is now reporting the highest levels of growth since October 2021, reflecting strong home buyer activity.
National house prices have now risen by 11.0% over the year ending March 2024.
House prices in most capitals remain significantly higher than reported over March 2023 with Perth the top performer up by 22.4% followed by Brisbane up 18.0%, Adelaide higher by 17.1% and Sydney up 11.1%. Melbourne, Hobart, Canberra and Hobart have reported annual house prices increases of 4.3%, 3.0%, 2.2% and 1.5% respectively.
Median House Prices March 2024
| Median | Month | This Year | 1 Year | 2 Year | |
| Sydney | $1,617,100 | 3.4% | 3.3% | 11.1% | 2.4% |
| Melbourne | $1,076,259 | 2.7% | 1.7% | 4.3% | -1.5% |
| Brisbane | $922,738 | 2.5% | 4.5% | 18.0% | 13.5% |
| Adelaide | $904,661 | 2.3% | 6.2% | 17.1% | 17.7% |
| Perth | $846,781 | 0.8% | 6.6% | 22.4% | 28.9% |
| Hobart | $698,596 | 3.4% | 4.1% | 1.5% | -7.9% |
| Darwin | $638,938 | 2.9% | 4.8% | 3.0% | -2.5% |
| Canberra | $957,812 | 1.8% | 1.7% | 2.2% | -9.9% |
| National | $1,125,923 | 2.7% | 3.5% | 11.0% | 5.5% |
The signals are clear: we’re on the brink of a market surge that savvy investors should be ready to capture.
My years at the helm of guiding Australians to property wealth have shown me a universal trait of property millionaires: they all invested in their real estate education.
Take the leap into knowledgeable investing with a free appointment. Book your free appointment here or call me direct on 0411 885 152.
