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1.Market Observations, 8.Was Sticky

18 Sept 2019 (AFR) – Sydney median house price rises in June quarter

(18 September 2019, AFR, p32, Michael Bleby, Senior Reporter)

Median price by housing type and city (ABS)

Median price by housing type and city (ABS)

‘Sydney’s median house price rose to $875,000 in the June quarter, marking the first increase in a year as buyers returned to the market after the federal election and greater optimism about prospects for the property market. The higher median price – up from $870,000 in the previous three months – was accompanied by a slight gain in the median house price in Brisbane and stronger gains in Hobart and the ACT. The rise, however, failed to arrest a steady decline in Sydney’s residential index for detached homes, which fell for a sixth straight quarter, the Australian Bureau of Statistics said on Tuesday.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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