Rents & prices rise
Sydney's median house price rose by +1.6 per cent to a record high of $1,178,417 in the June 2017 quarter, according to Domain Group's latest release.
Apartment prices rose much faster, up by a ripping +3.2 per cent to a fresh record high of $757,991, as affordability bites on the detached housing market.
The median apartment price has increased from $359,853 in March 2007.
The median apartment price has increased from $359,853 in March 2007.
Unit rents also jumped from $530/week to $550/week, to now match the median rental for a house in the harbour city.
Over the same period house rents have only increased by +10 per cent to $550/week.
Although this may seem illogical, generally speaking more units are located close to the city than houses.
Over the same period house rents have only increased by +10 per cent to $550/week.
Although this may seem illogical, generally speaking more units are located close to the city than houses.
Sydney's apartment rents have surged +22 per cent higher from $450/week in March 2012.
There's a rather different dynamic underway in Brisbane's new apartment market, as I discussed with Domain here (or click image below).
