Over the past month we ’ ve seen Sydney and Melbourne lead the charge , recording 1.1 per cent growth to represent a median house price of $ 1,538,136 and $ 1,043,622 respectively . These regions continued to be pressured by strong population gains , translating into greater annual increases . Perth , however , continues to be the standout performer over the past year , but on a monthly basis growth has slowed ; the overarching mismatch in demand and supply in this market will ensure continued price growth from the current $ 743,340 median .