Based on the article, here are the key points about housing affordability and market conditions:
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Brisbane has become the second most expensive capital city after Sydney, with median house prices doubling over the past five years to $1.2 million.
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Buyers seeking properties below the national median have more options in outer fringe suburbs like Ipswich and Logan for Brisbane.
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In Perth, all houses in top ten suburbs are valued at less than $1 million.
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Adelaide's north offers many homes under $1 million, while Darwin and Hobart still allow buyers to find homes within a $1 million budget even in affluent areas.
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Canberra's outer fringe provides numerous housing options below the $1 million mark.
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Despite cooling market conditions due to rate hikes and tax changes announced in the federal budget, affordability has worsened compared to last year.
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Higher interest rates have offset any improvements from easing home values in many parts of the country.
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The silver lining is that affordability may start improving over the next 12 months as cash rates are likely at or near their peak.
The article highlights how housing markets across Australia's major cities vary widely in terms of affordability, with outer suburbs generally offering more affordable options compared to inner areas. However, overall affordability has
Read the full article at Property News - Latest Real Estate Market News
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