House prices are rising at their highest pace in four years with Sydney poised to hit a once-unthinkable median of $2 million by the close of 2026.

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After bumper growth of 3.4 per cent in the September quarter, the median harbour city house value sits at $1,751,728.

If that growth repeats over the next year, Sydney house prices will sit at $2 million before the end of 2026.

It was only 12 years ago the city, Australia's priciest housing market, broke through the million-dollar benchmark, Domain economics chief Nicola Powell said.

"It's wild to think that Sydney's median house price could breach $2 million," she told AAP.

"Sydney has always

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