Which country has the highest house price in Australia?
The house price index shows a sharp rise in Sydney and Melbourne in the past year, according to data from CoreLogic.
The median Sydney house price rose $7,800 in the 12 months to April 2018, while the median Melbourne house price dropped $5,400, a 3.1 per cent increase.
While Melbourne is now the top-ranked country, it is still the second-least affordable country in Australia, with the median price in the region falling 3.3 per cent.
New South Wales is also the most expensive country in the country, with median house prices in the state dropping $2,600 over the same period.
South Australia is next on the list with median prices in South Australia falling 2.9 per cent over the year.
Across the nation, prices are also falling in Tasmania, Victoria, South Australia and Western Australia, while in Western Australia prices are up 3.6 per cent and in South Australian prices by 1.5 per cent since last year.
The median house price is also down in the most populous states of Western Australia and South Australia, where median house values are at $2.4 million and $1.9 million respectively.
But prices are still rising in Victoria, with Melbourne house prices rising by $1,500 over the 12-month period.
In Sydney, the median house value is up $2 million in the same time period, while prices in Sydney have risen by $2 per cent in the last 12 months.
At the other end of the spectrum, median Sydney home prices have fallen by more than $1 million in 10 years.
In Adelaide, the average house price of a Sydney household is down by $800 in 10 short years.
The national median house is now $2m, while that is down $1m in just five years.
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