Median house prices for Sydney have peaked to a record $811,837 from $787,000 the previous quarter, according to the Australian Property Monitor’s Quarterly House price report. Sydney’s house prices have been on an upswing, recording a $118,000 annual increase. The median price in Sydney was attributed to a strong performance from the south west for the past 6 months.

Darwin finished at second with a median house price of $655,615 followed by Perth, Melbourne, Canberra, Brisbane, Adelaide and Hobart, which had the lowest median price at $329,186.

Read more about this on the Property Observer website.