Sydney has outperformed all capital cities in terms of house price growth last year, but this pace is set to slow down this year, just about half of last year’s price growth, according to Australian Property Monitors.
Last year, median house prices in Sydney have increased by 15.1% to $763,169 – a $100,000 increase. The national median house price stands at $597,556, increasing by 4% from the previous year. Sydney has been a major driver in national house prices, but with a weak Australian dollar, high unemployment rate and inflation should keep these price increases at a minimum.
Read more about this on the Property Observer website.