Sydney house prices rise
30 April 2015 by News Desk
The average cost of a house in Sydney has topped $900,000 for the first time on record. Property prices rose 3.6 per cent in the first three months of 2015 to an average of $914,056, according to latest figures.
The lower north shore district was the best performing region in the quarter with a 10.5 per cent jump in average price to $2 million. Homes that were selling for $2 million two years ago are now going for over $3 million.
Among the top performers over the quarter were the northern beaches, which had a 10 per cent price growth. The inner west was the third-best performing region, with 7 per cent growth, followed by the upper north shore/north-west and the city and east, both with 6.8 per cent growth.
While Sydney house prices are rising, the cost of apartments appears to be levelling off, with the average unit price $609,800 – a rise of just 1.2 per cent over the past three months.
Darrell Todd, CEO of thinkingaustralia, says: “House prices in the most desirable areas of Sydney have always been high and this is bound to continue over the next 12 months. Most people looking to buy a house in the area would be wise to look outside of Sydney, in the many attractive regional centres where prices are more affordable”.
Average House Prices in Sydney
Lower North $2,000,000
Northern Beaches $1,447,000
Inner West $1,370,000
City and East $1,768,000
Upper North Shore $1,250,000
South $1,015,000
Canterbury Bankstown $808,750
South West $600,000
West $620,000
