Property prices have risen across all Australian capital cities, as auctions reached new highs in October.
Real estate research firm Cotality found a national surge of 1.1 per cent in home values over the month, while industry rival PropTrack produced similar data.
Perth, Adelaide and Darwin led the charge, while the median house value in Sydney notched the $1.2 million mark.
ABC News presenter Emma Rebellato attributes the spike to first-home buyers buoyed by the expansion of the federal government’s first-home deposit scheme and investors already in the market.
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