State and territory leaders have agreed to pause and streamline the National Construction Code in a bid to boost supply as the government’s 5 per cent deposit scheme kicks in, rekindling concerns about record-high housing prices.

This month, the federal government’s deposit scheme – which covers the lenders mortgage insurance imposed by lenders on all first homebuyers who have a deposit of less than 20 per cent of a property’s sale price, but more than 5 per cent – came into effect after it brought forward the start date to October 1.

The latest Domain House Price Report , released on Thursday, shows Sydney’s median house price climbed 6.3 per cent, or $104,140, over the year to September, hitting a fresh record of $1.75 million. Property prices in Melbourne rose by 6.2 per cent while

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