Median house prices in Brisbane and Adelaide to hit $1m by December

Median house prices in Brisbane and Adelaide are on track to hit $1 million by the end of the year, fuelled by a persistent supply shortage and strong demand, despite a sharp slowdown in the quarterly pace of growth, Domain says.

Brisbane’s median house value has risen to a record $924,498 over the past three months to March, and Adelaide surpassed the $900,000 mark for the first time during the same period.