Three more capitals, Brisbane, Canberra, and Melbourne, are expected to join Sydney in the “million-dollar” housing club in 2026, highlighting soaring property values across Australia.
Author and property expert Peter Koulizos said the $1 million median reflects the typical Australian home: a three-bedroom detached house on 600–700 sqm, far larger than most urban homes globally.
“Many people technically will become millionaires in 2026 when their properties hit the magic $1m mark,” he said, noting it signals how Australia’s housing market outpaced global trends, especially during Covid.
Koulizos also predicted a “tale of two markets” this year, with Brisbane, Perth, and Adelaide performing strongly, while Sydney, Melbourne, and Hobart grow more slowly due to local policies and weaker consumer confidence.
Source: The Australian.
