Sydney house prices to soar

Sydney house prices to soar

by 0 comments

Median Sydney house prices could rise by as much as $100,000 in the next two years, The Investors Club has said.

Speaking to the Daily Telegraph, the Club’s president Kevin Young said a shortage of homes and a growth in population could cause a property boom.

Between 2002 and 2004, the median Sydney house price surged by $150,000 to $524,000.

“This spike in property prices was caused by an under-supply of houses relative to population growth, which resulted in a major blowout in prices over this two year period,” Mr Young told the daily.

“House prices in Sydney have been in recession for the last five years. In contrast other capital cities have recorded major growth in their median house price.”

Median Sydney house prices could rise by as much as $100,000 in the next two years, The Investors Club has said.

Speaking to the Daily Telegraph, the Club’s president Kevin Young said a shortage of homes and a growth in population could cause a property boom.

Between 2002 and 2004, the median Sydney house price surged by $150,000 to $524,000.

“This spike in property prices was caused by an under-supply of houses relative to population growth, which resulted in a major blowout in prices over this two year period,” Mr Young told the daily.

“House prices in Sydney have been in recession for the last five years. In contrast other capital cities have recorded major growth in their median house price.”

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

With a combined sales volume of over $14 billion in 2017, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
How this agent grew his database by 50% in five years

In this episode of Secrets of the Top 100 Agents, Robert Pignataro joins host Tim Neary to explain how he increased his personal database by...

View all podcasts

Does the benefit of being part of a branded group outweigh the cost?

Yes
No
Depends on the group
Do you have an industry update?