So much for a downturn! Australian house prices skyrocket

PHOTO: Sydney (pictured), Australia’s biggest housing market, saw a 1.2 per cent increase in median house prices to $1.154million during the September quarter

Australian house prices have rebounded in every major city except Melbourne
Sydney saw a 1.2 per cent increase in median house prices to $1.154million
But properties in Byron Bay have surged by almost a third in the past year
The popular coastal town saw a 29.6 per cent surge in the year to September

Australian house prices have rebounded in every capital city except for Melbourne, meanwhile properties in Byron Bay have surged by almost a third in the past year.

Property sales group Domain revealed buyers returned to real estate during the September quarter as they braced for tax cuts to be fast-tracked.

The popular coastal town which both Chris Hemsworth and Zac Efron call home has enjoyed a 29.6 per cent year-on-year surge in September.

Median house prices in Byron Bay now stand at $1.16million.

Sydney, Australia’s biggest housing market, saw a 1.2 per cent increase in median house prices to $1.154million during the September quarter, 6.8 per cent over the past year.

The popular coastal town (Wategos Beach pictured) where Chris Hemsworth and Zac Efron have chosen to settle has been sizzling, with data from online real estate showing a 29.6 per cent annual surge in September