Powered by MOMENTUM MEDIA
subscribe to our newsletter
Sydney prices now astronomical

Sydney prices now astronomical

Property prices continue to surge in Sydney while values have fallen in four of Australia’s capital cities.

Sydney’s median house price reached $850,000 in April after posting 15.5 per cent year-on-year growth, according to CoreLogic RP Data.

The median unit price in Sydney also performed strongly, growing 9.7 per cent to $630,000.

Advertisement
Advertisement

Melbourne’s median price jumped 7.6 per cent to $605,000, although the unit price rose only 1.9 per cent to $470,000.

Brisbane’s median house price climbed 2.3 per cent to $480,000, while the median unit price climbed 0.7 per cent to $388,000.

Adelaide was the only other capital to record growth in both house and unit prices, with houses up 1.6 per cent to $420,000 and units up 2.6 per cent to $343,000.

Unit prices went backwards in Hobart, Canberra and Perth, while both house and unit prices went backwards in Darwin.

Hobart’s median house price increased 1.6 per cent to $350,000, while the median unit price fell 3.4 per cent to $269,000.

Canberra houses rose 1.3 per cent to $590,000, while units fell 2.1 per cent to $400,000.

Perth’s house price increased 0.6 per cent to $540,000, while the unit price decreased 3.5 per cent to $433,000.

Darwin’s median house price fell 1.7 per cent to $600,000, while the median unit price fell 0.9 per cent to $470,000.

Sydney prices now astronomical
mortgagebusiness

 

Latest News

Westpac and the Commonwealth Bank’s share of the third-party mortgage market has spiked, in contrast to sharp declines from NAB and ANZ, t...

A non-major lender has dropped its fixed mortgage rates, becoming the fourth lender to reprice its offerings over the past two weeks.   ...

The interest lenders earn on mortgages is expected to remain under pressure this year and next, according to Moody’s. ...

FROM THE WEB
podcast

LATEST PODCAST: What drops in fixed rates may mean for the mortgage market

Do you think the banking royal commission recommendations could negatively impact competition in the mortgage market?