As it stands in February, Sydney's median house price is $1,001,357. David Scutt Nov 2, 2017, 1:32 PM. Site highlights each day to your inbox. Sydney was home to about 4.58 million people and its median house price was less than $650,000. Total value of the dwelling stock . Darwin only region to record falls for the month "This would suggest that the pace of capital gains may have been dampened by higher advertised stock levels or worsening affordability pressures through early summer," he said.China says Australia turning away Chinese firms will dent confidenceAmong the capitals, Sydney and Melbourne recorded the highest annual capital gain, with both cities posting a 5.3 per cent rise in dwelling values over the year.Darwin was the only region among the capital cities and "rest-of-state" areas to record a fall in values over the month, with a 0.5 per cent decline. The data shows the typical Sydney free-standing home was worth $973,664 at the end of December, while the median Sydney unit was worth $746,017. New data by property research firm CoreLogic has revealed that over the past month Sydney's house values have surged by 1.5 percent, taking the median value to $994,300. The median unit price is now sitting at a staggering $763,962 and the combined dwelling value is now $872,934. 2 Bedroom (no data - less than 10 sales). facebook; twitter; reddit; linkedin; WhatsApp/span> Photo: Getty Images. "Stacey's aunt was going to miss her wedding, until Queensland announced it would open its bordersTapas Strickland, a director of economics and markets at National Australia Bank, said the national gains meant prices were now 3.1 per cent below the all-time high reached in 2017, with Melbourne 2.3 per cent below its peak and Sydney 6.4 per cent away from its high.Former ABC chairman resigns as judge of Hong Kong court over new national security lawProspective homebuyers warn others to ignore 'for sale' price tag'Highly suspicious' suicide of girl should be referred back to police, NT coroner's court hearsAdelaide was up 0.5 per cent for the month but fell 0.2 per cent for the year.Hobart lifted 0.2 per cent for the month, and 3.9 per cent for the year.For the three months to December, the best performing capital city was Sydney, which lifted 6.2 per cent, and the weakest performing capital city was Darwin, which dropped 1.4 per cent.If the strong gains continue, Sydney median house prices could shoot back up over the $1 million mark.St Kilda ends nine-year finals drought, season over for GWS"A nominal recovery in housing values implies home owners are becoming wealthier, which may also help to support household spending," he said.Mr Lawless said the positive year-end results masked a year of two distinct halves.House prices in most Australian cities finished 2019 on a high, with national average dwelling prices lifting 1.1 per cent during December and by 2.3 per cent over the year, according to CoreLogic.
"Assuming price growth remains solid into 2020, then house prices are set to exceed their prior peaks by early to mid-2020," he said.Despite a strong rebound over the second half of 2019, Mr Lawless said, property values across most regions of Australia were still below their previous record highs.Family of woman slain in police shooting say 'better justice' served by city murder trialMr Lawless said if the current quarterly rate of growth persisted this year, the national housing market would record a nominal recovery in March as dwelling values rose to new record highs.The only regions where housing values were currently tracking at new record highs were Hobart, Canberra and regional Tasmania.Properties in Melbourne and Sydney are selling for $100,000 to $200,000 above the advertised price.House prices on the rise in Melbourne and Sydney but Perth gets left behindQantas flight to nowhere sells out in 10 minutesThis service may include material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN and the BBC World Service which is copyright and cannot be reproduced. Median House Rent. "However, the flipside is that housing affordability is set to deteriorate even further as dwelling values outpace growth in household incomes, signalling a setback for those saving for a deposit. Interest rates are based on average standard variable mortgage rates overtime as reported by RBA. "Barilaro temporarily steps down to take care of his mental health after week of political dramaDuring December, Sydney house prices rose 1.7 per cent, while Melbourne house prices shot up 1.4 per cent. Here's what it was like.Call Of Duty's Battle Royale Adds Random Event That Resurrects...Universal Orlando Parks Will Reopen June 5 Despite Risk Of...Everything We Know About The PlayStation 5I moved to the US from China — here are the biggest cultural differences I've noticed between the 2 countriesNSW Nationals Leader To Take Mental Health Leave Immediately, One...CBA and NAB pass on RBA interest rate cut in full, but ANZ and Westpac defy Treasurer Josh Frydenberg's ordersHow Emmy-award-winning 'The Mandalorian' uses virtual sets over green screensIt was posted by Tim Lawless, CoreLogic’s Head of Research, on @ Your Sus Mates: A Wild Feature On Apple’s New iOS 14 Alerts You...White Twitch Talk Show Host Finally Drops 'Rajj Patel' MonikerDisable UPnP On Your Wireless Router AlreadyHow to watch Netflix on your TV in 5 different waysThis Android Wallpaper Can Brick Your PhonePro-Privacy Lawmakers Secure A Vote To Protect Browsing Data From...Give us your thoughts on these small business practices to win a $250 Westfield gift cardIf the last two months are anything to go by, it looks like Sydney’s property market is entering a downturn.Past performance is not indicative of future returns.After such a spectacular period of growth, it’s certainly created some interest. The total value of residential dwellings in Australia rose $141.6b to $7,237.1b this quarter. Median House Price. The house price index in Australia rose by 1.6 percent quarter-on-quarter in the first three months of 2020, easing from a 3.9 percent gain in the prior period and below market expectations of a 2.7 percent increase. Sydney’s dwelling price to income ratio is now tracking at 9.3, which means the typical Sydney dwelling now costs 9.3 times more than the median annual household income. Sydney's median house price is edging closer to seven figures as Australia's property market booms in the first month of 2020.