Median asking price for Sydney houses tops $1 million
Sydney’s median asking price for detached houses topped $1 million this week for the first time as sellers raised expectations in a booming market.
The median asking price rose $10,600 over the past seven days, according to Sydney-based data company SQM Research Pty. That’s the highest since the firm began reporting the data in April 2009.
Across Australian state and territory capitals, the median asking price for detached homes jumped $6,400 over the week to $755,100, the figures show.
Record-low central bank interest rates are fuelling a surge in demand from investors, which has regulators concerned that speculative buying is creating an unbalanced housing market.