There are 10.7 million homes for sale in Australia and they're becoming more expensive.
The average price for a residential dwelling is now at almost $836,000.
Analysts say there's been another jump up in price - a rise of 18 per cent in the year to August according to CoreLogic.
Warren Hogan Economic Advisor to Judo Bank from says low-interest rates, a shortage of supply and higher household savings are supercharging the local property market.
"Well, the primary effect at the moment is clearly the housing market and the bouncy and the reality is that the low rates and guidance from our central bank that they're going to stay low, is essentially giving the green light to housing market participants to fully capitalise these low rates into prices and that's why we've got so much momentum in every part of Australia. All the capital cities, regional areas. It's really quite incredible particularly given the economic challenges we face and also the lack of population growth so this is really been driven by low-interest rates. I think you can expect to see house prices continue to rise quite strongly for the foreseeable future."
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