Average House Prices In Australia Have Hit Their Highest Levels ... Ever

Photo: Getty

Average Australian house prices have hit their highest level on record, according to research released by RP Data-Rismark.

The average capital city house price rose 1.6% to $500,000 in September, according to the data.

Sydney has the most expensive median price tag of $588,000 followed by Melbourne’s $520,000.

“If such a high rate of growth continued for a sustainable period, it would have the potential to push home values above what might be considered sustainable market value,” said RP Data analyst Tim Lawless, according to AAP.

Read more here.

Now read: An Australian Accountant Who Worked At PwC And KPMG Has Been Jailed For Aiding Al Qaeda

Follow Business Insider Australia on Facebook and Twitter

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.