Australia's home prices surge by most in over two years in October
Update: 2025-11-02
Description
Australia's housing market sees record-breaking surge in home prices, with a 1.1% increase in October, reaching a median value of over $872,000 AUD ($567,000 USD). This is the largest monthly gain since June 2021, driven by interest rate cuts, a new government policy for first-time buyers, and a shortage of homes for sale. Prices rose in all major cities, with the fastest growth in affordable segments. Rising home values have also pushed up rents, with vacancies at record lows. The Reserve Bank of Australia is now reconsidering its easing plans due to inflation concerns.
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