In recent months , Australian house and unit prices have maintained an upward trajectory , growing by 1.3 per cent and 0.8 per cent , respectively . The persistently low supply of available properties , coupled with tight listings , has grown competition , resulting in elevated property values across both metropolitan and regional markets nationwide .
Despite the recent uptick in inflation , discussions around interest rate reductions have been put on hold . Nevertheless , this continued price momentum is expected to characterise the Australian housing market throughout much of this year . House prices have surged by 10.3 per cent annually , reaching a current median of $ 873,371 , while unit prices have grown by 7.8 per cent over the year , with a national median of $ 649,774 .