Real Estate Podcast Episode 40: Australia's housing affordability bites

Real Estate Podcast Episode 40: Australia's housing affordability bites Sydney median house prices grew to record levels of over $1.6 million in May 2024 - easing back recently to $1.475m, and Sydney median unit prices are now over $850,000 making Sydney the most unaffordable city in Australia, recently ranking as the second most unaffordable city in the world behind Hong Kong. Brisbane's median house price has also now overtaken Melbourne, as affordability bites home buyers looking to upgrade or first home buyers getting into the market. As at 1st August 2024 our median house prices: Sydney Median house price: $1,473,038 and Median unit price: $852,766 Canberra Median house price: $984,894 and Median unit price: $583,073 Brisbane Median house price: $966,825 and Median unit price: $638,909 Melbourne Median house price: $944,138 and Median unit price: $610,300 Adelaide Median house price: $830,609 and Median unit price: $546,429 Perth Median house price: $808,038 and Median unit price: $540,546 Hobart Median house price: $686,660 and Median unit price: $536,318 Darwin Median house price: $588,327 and Median unit price: $367,487 In this Podcast Anthony Landahl, Managing Director and Mortgage Broker at Equilibria Finance breaks down affordability across the nation, where the growth is happening and the challenges homebuyers are facing.