22 Jun 2021
Australian Residential Property: First Home Buyers
- Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner
According to Australian Broker News the median house price in Sydney is now over $900,000.
| Capital City |
Median House Price |
Median Unit Price |
| Sydney |
$901,750 |
$649,950 |
| Melbourne |
$720,000 |
$574,000 |
| Hobart |
$670,000 |
$470,000 |
| Darwin |
$595,000 |
$417,500 |
| Brisbane |
$535,000 |
$410,000 |
| Perth |
$515,000 |
$420,000 |
| Adelaide |
$493,250 |
$372,500 |
| Canberra |
$820,000 |
$492,500 |
Domain research just published the 2021 Domain First-Home Buyer Report which shows that it takes 7 years and 1 month to save a 20% deposit on an entry level house in Sydney.
This is now 11 months longer than 5 years ago.
Click for chart.
When will this explosion in residential property prices end?
Unknown but it will because the rate of increase is unsustainable.
At Newealth we are always looking to support and promote our clients wherever possible and if you have any ideas or comments, please feel free to email me or to call me on +61 2 9267 2322.
