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Sydney house prices surge 15.5pc

04 May 2015 Nick Bendel
Sydney

Property prices remain astronomical 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.

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.

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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.

[Related: Previous month’s results]

Sydney house prices surge 15.5pc
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