{"id":32003,"date":"2021-04-29T13:06:40","date_gmt":"2021-04-29T01:06:40","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=32003"},"modified":"2021-04-29T13:06:40","modified_gmt":"2021-04-29T01:06:40","slug":"sydney-house-prices-soar-to-record-median-of-1-3m","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/sydney-house-prices-soar-to-record-median-of-1-3m\/","title":{"rendered":"Sydney house prices soar to record median of $1.3m"},"content":{"rendered":"

PHOTO: Hopeful home buyer Brendan Page has paused his search for a house on the northern beaches, frustrated that he can’t keep up with the pace of the price rises.\u00a0Photo:\u00a0Peter Rae<\/span><\/strong><\/p>\n

Sydney house prices have soared to a record-breaking $1,309,195, rising more than $100,000 in the first three months of this year, new figures reveal, the fastest quarterly gain in almost 30 years.<\/p>\n

The median house price jumped 8.5 per cent in the first quarter of 2021, according to the latest\u00a0Domain House Price Report<\/em> released on Thursday. It is the fastest quarterly growth since Domain records began in 1993.<\/p>\n

The unit recovery has also picked up, with the median price rising 2.2 per cent over the quarter to $751,038.<\/p>\n

The persistent lack of stock in the face of unabated high levels of buyer demand and ultra-low interest rates has continued to fuel this \u201cextremely rare\u201d rate of growth, according to Domain senior research analyst Nicola Powell.<\/p>\n

She said it was a \u201cturnaround\u201d for the unit market as investors began to trickle back to the market at the same time priced-out house buyers opted to purchase more affordable units.<\/p>\n

But it\u2019s unlikely to last: buyers could expect these \u201cextraordinary conditions\u201d to ease in following months, Dr Powell said.<\/p>\n

House price median<\/strong><\/div>\n
<\/div>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
REGION<\/td>\nMARCH 21<\/td>\nQOQ<\/td>\nYOY<\/td>\n<\/tr>\n<\/thead>\n
Northern Beaches<\/td>\n$2,425,000<\/td>\n18.3%<\/td>\n27.0%<\/td>\n<\/tr>\n
Eastern Suburbs<\/td>\n$3,250,000<\/td>\n18.2%<\/td>\n16.1%<\/td>\n<\/tr>\n
Baulkham Hills and Hawkesbury<\/td>\n$1,410,000<\/td>\n11.9%<\/td>\n17.5%<\/td>\n<\/tr>\n
Ryde<\/td>\n$1,905,000<\/td>\n9.8%<\/td>\n10.8%<\/td>\n<\/tr>\n
Inner West<\/td>\n$2,000,000<\/td>\n9.3%<\/td>\n9.6%<\/td>\n<\/tr>\n
Inner South West<\/td>\n$1,200,000<\/td>\n9.1%<\/td>\n9.3%<\/td>\n<\/tr>\n
North Sydney and Hornsby<\/td>\n$2,505,000<\/td>\n8.9%<\/td>\n16.5%<\/td>\n<\/tr>\n
Sutherland<\/td>\n$1,351,000<\/td>\n7.2%<\/td>\n11.4%<\/td>\n<\/tr>\n
Central Coast<\/td>\n$759,000<\/td>\n6.8%<\/td>\n16.8%<\/td>\n<\/tr>\n
Outer South West<\/td>\n$725,000<\/td>\n6.2%<\/td>\n9.8%<\/td>\n<\/tr>\n
City and Inner South<\/td>\n$1,669,000<\/td>\n6.0%<\/td>\n4.7%<\/td>\n<\/tr>\n
South West<\/td>\n$825,000<\/td>\n5.8%<\/td>\n9.3%<\/td>\n<\/tr>\n
Outer West and Blue Mountains<\/td>\n$745,000<\/td>\n5.7%<\/td>\n10.8%<\/td>\n<\/tr>\n
Parramatta<\/td>\n$1,000,000<\/td>\n4.9%<\/td>\n6.0%<\/td>\n<\/tr>\n
Blacktown<\/td>\n$820,000<\/td>\n3.8%<\/td>\n10.8%<\/td>\n<\/tr>\n
Source:<\/strong>\u00a0Domain House Price Report<\/em>, March 2021<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

IT\u2019S HERE! FERGS COFFEE<\/span><\/h3>\n

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