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Sydney House Prices Continue to Climb

Thursday 11th March 2010

Sydney’s house prices have defied even bullish forecasts to post strong gains at the start of 2010, led by the Eastern Suburbs, Inner West and Lower North Shore, with many predicting the momentum will flow through to the rest of the year and into 2011. Buyers are being urged to enter the market now before prices move further away from them.

“What were considered bullish forecasts of ours six months ago have turned out to be on the light side,” said Harley Dale, chief economist at the Housing Industry Association (HIA). “Things are going even more strongly than we have forecast. On both fronts (activity and prices) it’s clear that, yes, we are in the midst of a housing recovery in Sydney.”

According to REX data, Sydney’s median house price rose 5.63 per cent to $525,000 in the past rolling quarter, while the Property Price Index, which factors in repeat sales, rose 3.92 per cent to $523,496 . It has outstripped gains in other NSW cities, including Wollongong where median prices were up 3.7 per cent to $362,950 and Newcastle where prices gained 1.54 per cent to $330,000. Sydney has also outperformed other capitals such as Brisbane where median prices rose 1.32 per cent. [More]

Tags: Confidence, Demand, House Prices, Investor, Price, Sydney

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GORDON 2906 Property Sales Figures

January 2010 (Interim Release)

* Index Price based in on Sales Data available in the '' Region

Property Sales in GORDON November 2009 - January 2010

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