The number of capital city homes selling for under $400,000 has plunged in the last decade to fewer than three-in-ten.

Hobart is the only city where the majority of houses still sell for less than $400,000, while Canberra has the fewest homes under that price tag, at just 7.5 per cent. Ten years ago, more than two-thirds of capital city homes were selling for less than $400,000. In Sydney, Australia’s…