Residex market update: Pete Wargent

Sydney median house prices were up by 1% in October to be up by 21% over the year to $1,058,500.

 

Sydney median unit prices were also up by 1% in the month to be up by 15% over the eyar to $684,500.

 

There has also been moderate growth over the past year for Brisbane houses (4%) and units (3%).

 

Interestingly Melbourne has now picked upp the pace, with house prices in the Victorian capital recording growth of 7% in the last quarter alone to be 11% higher over the year. 

 

On the other hand, some moderate declines were recorded in other cities and regions.