Sydney unit prices on the decline

Sydney unit prices are declining, new figures from the Real Estate Institute of NSW show. Median unit prices dropped 1.3 per cent to $360,000 in the September quarter. However the price of units across the state overall was comparable with the last quarter at a median price was $335,000.

The median price for a Sydney house rose to $470,000, up 1.1 per cent on the June quarter. In NSW overall, median house prices rose by 4.8 per cent to $362,000. The median land price in the state rose 9.6 per cent to $160,000.
There were 31,838 property transactions in NSW in the quarter; 20,115 of these were for Sydney properties. The number of transactions for NSW overall rose by 1.2 per cent.