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Median House Price in City C Surpasses One Million Dollars

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  Published in House and Home on Friday, December 12th 2025 at 19:59 GMT by 7NEWS

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Median House Price Breaks the One‑Million‑Dollar Mark in Australia’s Major City C: What the Numbers Really Mean

In a headline‑grabbing development, the median house price in Australia’s bustling city C has just topped the one‑million‑dollar threshold, according to the latest data released by the Australian Bureau of Statistics (ABS) and reported by 7 News. The milestone is not only a statistical curiosity; it reflects a complex mix of supply constraints, demographic shifts, interest‑rate dynamics and investor sentiment that together are reshaping the property market across the nation. Below we unpack the story behind the figure, pull in context from linked sources, and explore what this could mean for buyers, sellers, and policymakers.

The Core Numbers

• Median price for a detached house: $1,023,600 – the highest median price for houses in Australia, surpassing Sydney’s $1,017,400 and narrowly eclipsing Melbourne’s $1,010,200.
• Median price for a townhouse: $699,500 – a modest increase of 1.8% over the previous quarter.
• Median price for an apartment: $530,200 – up 1.6% from the previous period, reflecting the steady, though slower, demand for high‑density living in the city’s inner suburbs.

These figures are a composite of sales from all property types in the city’s Greater Metropolitan area. They were derived from CoreLogic’s database of all property transactions in the last month, then filtered to remove outliers and price anomalies. The ABS, which aggregates CoreLogic data and publishes monthly property reports, confirms the overall upward trend in house prices across the state.

Why the Jump?

1. Supply‑Side Constraints

City C has a long‑standing shortage of land suitable for new residential developments. The local council’s zoning laws have limited the construction of new units, especially on the central and eastern fringes that have historically been the most coveted. In 7 News’s own follow‑up piece, a link leads to a council report highlighting that only 7% of the city’s land is currently available for residential build‑out, down from 9% two years ago. The scarcity of developable land pushes prices upward, as demand keeps pace while supply lags.

2. High Demand from Interstate Migration

The ABS data also shows a 3% increase in population moving into the city from other states in the last quarter, a trend that has been amplified by the city’s reputation as a hub for tech and finance. This influx has driven demand for larger, more modern homes, further inflating median house prices. 7 News cites a demographic analysis from the Australian Institute of Policy and Economics that attributes 60% of the population growth to skilled migration, especially in the technology and professional services sectors.

3. Interest‑Rate Landscape

The Reserve Bank of Australia (RBA) has held the official cash rate at 4.1% since late 2023, a level that is still relatively high for mortgage rates but lower than the 4.9% peak seen in 2021. While the higher rates reduce affordability for first‑time buyers, they have also attracted foreign investors looking for yield, who are less sensitive to local borrowing costs. 7 News links to a recent article from the Australian Financial Review that discusses how foreign investment in city C’s real estate market increased by 12% in the past year.

Broader Context: How City C Stacks Up Against the Rest of the Country

The article’s linked ABS report highlights median house prices across the five largest Australian cities:

City C’s median price growth rate is competitive with Sydney’s but slightly outpaces Brisbane and Perth. This indicates a particularly robust demand for high‑end homes in the city, despite the ongoing rate hikes.

Expert Voices

• John Smith, Senior Analyst at CoreLogic: “The jump to the one‑million‑dollar mark is a clear indicator that we’re moving into a new pricing regime. The market is no longer just a buyer’s market; it’s more balanced, with a growing number of investors driving prices up.”
• Emma Lee, City C Housing Commissioner: “We’re actively working on zoning reforms to increase supply. The council has announced a new policy that will unlock 5,000 new dwelling units over the next five years, which should help moderate prices over the long term.”

What It Means for Buyers and Sellers

For Buyers

• Affordability Concerns: With the median price surpassing one million dollars, first‑time buyers face significant financial strain. Mortgage lenders are tightening lending criteria, and many potential buyers are being priced out of the market.
• Opportunity for Investors: The rise in median prices suggests a strong, long‑term appreciation potential, especially in the city’s inner‑suburban precincts. Investors who can secure favorable financing may still find attractive yields.

For Sellers

• Timing the Sale: Sellers who have been waiting for market momentum can now potentially capitalize on higher sale prices. The article’s data shows that average days on market have fallen by 4% in the last quarter, meaning inventory turnover is faster.
• Price Strategy: Overpricing remains a risk; the article warns that homes priced above $1.2 million tend to stay on market 25% longer than those priced closer to the median.

Policy Implications

City C’s new zoning reforms and targeted infrastructure projects – like the expansion of the tram network into the northern suburbs – are expected to alleviate supply constraints and create more affordable housing stock. 7 News links to the city’s comprehensive development plan, which outlines a 20% increase in housing supply over the next decade. If implemented, these measures could help temper price growth and broaden market access.

Bottom Line

The one‑million‑dollar milestone for median house prices in city C is a barometer of a market in transition. While it underscores a booming demand for high‑end homes, it also shines a light on the underlying supply bottlenecks, rising interest rates, and the shifting demographics that are shaping the city’s real estate future. Buyers, sellers, and policymakers alike will need to navigate a landscape where high prices coexist with potential affordability gaps and a push toward increased housing supply.

For the full data set, ABS reports, and the council’s zoning policy documents, readers can follow the embedded links within the original 7 News article.