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Average Sydney home to top $1mil by 2019
18 January 2010 |
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| The average home in Sydney will be worth more than one million dollars within ten years according to a new report from property research analysts at Residex. Ten years ago, Sydney’s median house price was $328,000, it is currently around $630,000.Residex chief executive officer John Edwards said traditionally Sydney houses have experienced a price growth of 8 per cent. “Over the past couple of years, this level of growth has fallen to approximately 6.5 to 7 per cent,” Mr Edwards said.“But, even if we calculate what the median house price would be at the end of the decade based on this lower growth rate, we should still see properties in the inner city top $1 million before 2019.” |
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| Source : Residex |
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