House prices in australia?

Question

Do you think between now and the next couple of years house prices will go up say in 3 years time how much would areas of went up in sydney. can you show me of what a area in Sydney was a couple of years ago to now. thanks

Answer 1

Median Price of Established House Transfers ;  Sydney ;

Dec-2004 $515,000

Dec-2005 $500,000

Dec-2006 $500,000

Dec-2007 $540,000

and from my personal records, (I have property here)

Post Code 2759 Western Sydney

Median Property prices

Jun-02 $251,694

Jan-03 $282,608

Mar-03 $288,793

Apr-03 $291,810

May-03 $297,392

Jul-08      $321,000

Answer 2

I suggest you go to the Australian Bureau of Statistics for this sort of information.  www.censusdata.abs.gov.au should be able to supply information on the median house price in Sydney (over the period you are inquiring about).

As for whether or not house prices will increase or decrease in Sydney... that's like asking what this week's lotto numbers are going to be.  In other words, anything (potentially) is possible.

Generally speaking, housing prices have slowed -- being affected by the collapse of the sub-prime market in the U.S., which has (as a by-product) created a concern on this side of the planet, causing the RBA to keep a close watch on interest rates.  All of which means, that markets are in a bit of a "slump" at the moment.  Will prices decline?  Unlikely.  Will they continue to grow?  More than likely, but probably not at the rate experienced in the last few years.

I'm sure many realtors would love a crystal ball to foretell the market; but (to-date) Bill Gates hasn't invented one.  So anything said about the real estate market in Australia is pure speculation; based on years of experience and current market trends.

Answer 3

http://www.domain.com.au/public/SuburbPr...

One can never tell . many have actually dropped in Sydney a bit. I think they will remain fairly stable.