What $1 million will buy in Sydney's property market

Posted by Simon Dehne on March 27, 2016 in Latest News with No Comments

sydney-harbour-and-opera-house_2It’s not easy getting your foot into Sydney’s property market.

Since the GFC, median house prices in Sydney have been on an incredible trajectory growing four times faster than wages and five times the rate of inflation.

But if it’s any consolation for homebuyers, there have been signs of cooling with sentiment towards residential property throughout Australia dropping late last year and expectations that Sydney’s once-hot housing market would see single digit growth rates in 2016.

Recent data shows that house prices in Sydney have risen 1.5% so far for 2016 with median prices sitting at 807,500 for houses and $665,000 for units.

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