The soaring Sydney property market will achieve growth of 20 per cent over two years to send the median house price well above $1 million, new research suggests.

Prices are also set to take off in Brisbane, but growth will be much more subdued in Melbourne and Adelaide, and prices will fall in Perth, according to forecasts from BIS Shrapnel. The economic analysts said there are housing shortages in Sydney and southeast Queensland, and while housing construction activity…