Australian housing prices have recorded the fastest growth in two years.

Australia's housing prices in October have risen at the fastest pace in over two years, highlighting the complex risks that the housing market recovery may pose to the Reserve Bank of Australia's efforts to curb inflationary pressures. Real estate consultancy firm Cotality stated on Monday that the housing value index jumped by 1.1% in October, the strongest monthly increase since June 2023. Perth led the way with a 1.9% increase, followed closely by Brisbane and Darwin with increases of 1.8% and 1.6% respectively. Sydney, a key indicator, saw a 0.7% rise in housing prices, pushing the overall increase in major Australian cities to 1.1%. Both national and major city housing price indices have reached historic highs. The day before, the markets widely expected the Reserve Bank of Australia to keep interest rates unchanged at 3.6%. This increase in housing prices may exacerbate concerns that inflation will remain high in the near future.