Australia home prices continue to climb, Sydney back at record high
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Australian home prices rose 0.8% in May, the sixteenth straight month of growth, with prices up 8.3% from a year earlier. The sustained squeeze on supply of affordable homes in most major capital cities has pushed prices up nationwide. Sydney saw a 0.6% growth, equaling the record high set in January 2022. Melbourne prices nudged higher by 0.1% in May. The available housing supply remains well below average, leading to upward pressure on prices. A Reuters poll predicts that Australian home price rises will outpace overall inflation over the next two years.

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https://www.investing.com/news/economy-news/australia-home-prices-continue-to-climb-sydney-back-at-record-high-3466834