Sydney house prices record largest annual gain since 2017 peak

Sydney’s property market is well and truly on its way back up, with the latest data revealing house prices grew in every single region of Sydney during 2019.

The market recorded its first annual gain since the boom ended in 2017, continuing its extraordinary recovery which experts say could break price records by the middle of this year.

The latest Domain House Price Report, released on Thursday, showed the city’s median house price regained another $73,000 – an increase of 6.8 per cent – in the 12 months ending December 2019, reaching a new median of $1,142,212. At the same time, unit median prices reached $735,387, a 3 per cent – or $21,197 – increase. It was also the first annual jump since the market peaked in late 2017.

House prices grew in every region of Sydney: the inner west recorded the strongest annual rise, up 15.4 per cent – adding $225,000 to its median house price, now $1.69 million.

 

*source Domain

Posted in Buy, Latest news, News, Sell on 29th January, 2020