2001: Great Aussie dream comes true

Home ownership became a reality for more Sydneysiders last year, with a record number of properties sold. 71,090 properties were sold in 2001 compared with 53,190 in the previous year.

Prices in the east and north soared as beachside locations and harbour views continued to be in favour. Double Bay, Vaucluse, Watson's Bay and Longueville contined to grow, and seaside areas close to the city, such as Tamarama, Bondi and Maroubra, increased their popularity.

An influx of first-home buyers meant that property prices in the outer western suburbs, south-west, Central Coast and Blue Mountains rose.

In unit sales, apartment developments close to the CBD did well, the highest volume being recorded in South Sydney, with the median price increasing 12 per cent to $330,000.