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AAP
AAP
Politics
Allanah Sciberras

Average home prices hit $1m with more growth to come

Anthony Albanese Eliza Owen ABS Mick Tsikas Australia Australian Bureau of Statistics
Average house prices in Australia have topped $1 million with forecasts of more increases to come. (Mick Tsikas/AAP PHOTOS)

Australia's property market continues to strengthen and gain momentum as the value of the average home soars past the $1 million mark for the first time.

The national mean dwelling price reached $1,002,500 in the March quarter, a 0.7 per cent increase from the previous three months, according to Australian Bureau of Statistics figures released on Tuesday.

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