PHOTO: Forest Lodge is one of a handful of suburbs where median prices are lower than they were five years ago. Photo: Cole Bennetts
Sydney real estate is back on the rise, but prices in some suburbs remain lower than they were five years ago – with new supply putting downward pressure on the market.
Median prices across a handful of suburbs are lower than they were in 2014, according to the latest Domain House Price Report, despite the market rebound in recent months.
Unit medians in eight suburbs are down over five years, with two suburbs also recording a fall in median house prices as block sizes shrank.
The inner-west suburb of Forest Lodge recorded the biggest hit to median unit prices over the five years to December, with an 8.1 per cent drop to a median of $940,000.
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