House prices in Sydney have this week reached a significant milestone
The median asking price for stand-alone houses in Sydney has hit $1 million for the first time. Data revealed by SQM Research shows that asking prices increased by more than $10,000 in just a week as sellers took the opportunity to cash in on a hot market.
Across the rest of the country the rise was a more moderate $6,400 to a median of $755,100.
SQM believes that asking prices will continue to rise, perhaps by as much as 12% next year with no immediate likelihood that interest rates will rise.
