Sydney house prices up 2.5% for the year: Residex
The latest data for August puts Sydney's median house price at $675,000, which is up 2.5% for the year, or 1.1% for the quarter and 0.07% for the month of August.
Sydney has the strongest August result of the capital cities, according to John Edwards at Residex.
The Australian median house price was at $430,500, which was down 1.1% for the month.
Sydney's annual growth also led the nation, with Brisbane's 6.7% annual fall the worst capital city result.
And Sydney's strength is quite reflective of the cycle's, as its 10-year price gain reflects a 6.06% annual growth, the weakest of all the capitals and below the 8.6% average annual national growth over the decade.
Edwards has Tasmania has his standout capital city of the decade with 10.9% annual growth.
John Edwards maintains Sydney’s housing shortage has saved its bacon.
He suggests the downturn in migration to Australia had not assisted price stability or growth in many capital cities.
