House Prices to Increase Another 5 Percent by Year’s End: KPMG

KPMG expects a rise of 5.3 percent across capital cities and 4.5 percent across the country by December.

A real estate sign is seen at property in Marrickville in Sydney, Australia, on Sept. 6, 2022. Lisa Maree Williams/Getty Images

The growth of Australian property prices is showing no sign of slowing down, with KPMG forecasting prices to increase another 5 percent before the end of year.

It comes after the country’s median property price in the capital cities reached a record high of $851,000 (US$522,000) in May, according to the PropTrack home price index.