Powered by MOMENTUM MEDIA
realestatebusiness logo
Powered by MOMENTUM MEDIA
realestatebusiness logo
Subscribe to our newsletter SIGN UP

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Sydney house price growth nears 17pc

11 May 2015 Nick Bendel
Sydney Sky

It hardly seems possible, but the Sydney market may be growing even faster than previously thought.

Sydney’s median house price reached $929,000 at the end of March after jumping 16.8 per cent over the year, according to Onthehouse.

That’s even higher than the recent findings of 16.0 per cent by Domain Group and 15.5 per cent by CoreLogic RP Data.

According to Residex, there were 48,623 house sales in Sydney for the year to March, which was 4.3 per cent more than the previous 12-month period.

Advertisement
Advertisement

Melbourne’s median house price increased 8.7 per cent to $673,000, while house sales increased 13.8 per cent to 48,991.

Hobart was a surprise third place in the capital gains table, with prices rising 5.0 per cent to $375,000 as sales rose 3.6 per cent to 2,030.

Brisbane house prices climbed 4.1 per cent to $478,000, while sales climbed 11.3 per cent to 40,524.

Adelaide experienced 3.0 per cent growth in its median house price, to $421,000, and 7.2 per cent growth in house sales volumes, to 19,023.

Canberra also saw growth in both categories, with prices up 2.4 per cent to $546,000 and sales up 2.8 per cent to 4,830.

However, Darwin and Perth both suffered declines in prices and sales numbers.

Darwin’s median house price fell 1.4 per cent to $567,000, while house sales fell 3.6 per cent to 1,412.

Perth prices declined 2.1 per cent to $524,000, while sales declined 8.2 per cent to 27,542.

[Related: Sydney prices forecast to grow only 3.4pc in 2016]

Sydney house price growth nears 17pc
Sydneyapartments
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.