Median home prices in Australia are expected to rise 1% this year, the weakest growth since 2022, according to a poll of property analysts conducted by Reuters.

The poll forecast prices ⁠to rise 2.1% in 2027. It showed median price growth projection of around 6% to 11% this year in Adelaide, Brisbane, and Perth, while prices in Sydney and Melbourne are expected to fall 2% to 3%.

Urban rents are forecast to rise 4% to 6%.

Median home values are at around AU$940,000, ​roughly eight times the average household income, Reuters said, adding that higher inflation and borrowing costs should continue to weigh on household ​budgets and demand.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)