The average price of an Australian home has surpassed A$1m (£483k, $652) for the first time, as the nation grapples with a ...

Australia's median property value is now at ... will be lower and more diverse from region to region and across housing types," he said. "We don't expect to see a material lift in housing activity ...

The rate of new construction in Australia is woeful,” Mr Irvine ... “We need to think about new types of dwellings to house people and it’s my view that this is the single biggest policy ...

As well as making houses costlier to build, this has left Australia with fewer builders. More than 1,500 construction firms collapsed in the year to June, mostly owing to cost overruns.

So we continue to see a very moderate positive growth for Australian house prices," said My Bui, economist at AMP. "We've under-built in the past two or three years already. So even if the supply ...