Sydney’s median price for free standing houses reached the $1 million mark as it currently sits at $1,005,800, according to SQM research.
This has resulted to more properties being out of buyers reach, according to SQM research Managing Director Louis Christopher. It will be extremely difficult to secure a property under $1 million in the inner city ring, as values have risen by 22% since 2011. Meanwhile, median prices for all other capital cities for houses are at $755,100.
Read more about this on the Australian Property Investor website.