Brisbane and Perth median house prices are set to rise by more than $50,000 before the end of the year, while buyers’ maximum borrowing amounts have shrunk due to rising interest rates.

Turnkey homes and new builds have been rising in popularity, with purchasers seeking the convenience of move-in-ready houses without the cost and hassle of renovations, according to John McGrath.

The impending opening of the Western Sydney International Airport has significantly reshaped the region’s property market, providing investors with an opportunity to get in on the ground floor.

Home owners who bought in Western Australia or Queensland in the previous five years have benefited from significant property growth, with dwelling values more than doubling following the market boom.

A Perth cabinetmaker has been nailed and fined nearly $17,000 for taking thousands in deposits and failing to carry out the work.