Sydney homes smash through $1M price barrier

The median Sydney house price rose 23 per cent in the last 12 months to hit $1,000,616 according to Domain’s National House Price Report.

Sydney has now surpassed London’s median house price, is fast approaching New York but remains well behind the property prices of Paris.

Domain’s Dr Andrew Wilson said record low mortgage interest rates are driving the record high price rises. Strong growth is expected to continue in Sydney for the foreseeable future.

Source: Broker News