Property prices across Australia have increased for the 16th straight month, with CoreLogic data showing an 0.8 per cent increase in May.
It’s also the biggest monthly increase since October last year, and takes the national median dwelling value to $785,556.
The figures also showed that Brisbane has become the second-most expensive capital city for property prices, overtaking Canberra.
It’s the first time since 1997 that the capital of the sunshine state has had the second-highest median dwelling value in Australia.
But for those who are hoping for relief from high property prices will be waiting a while yet, with CoreLogic’s head of research Tim Lawless noting conditions are unlikely to improve until more properties are built.
Here’s what property prices look like across the country.
What’s the most expensive city to buy in?
Sydney remains the most expensive place to buy property in the country, with a median house price of $1.4 million.