Sydney's $1 million median becomes international point of interest

Sydney property prices have attracted the attention of the BBC, the British broadcaster, given their reaching the A$1m mark for the house median according to the Domain Group.

The article loses weight in conversion of course, €$736,000,and £471,000.

Melbourne - the next most-expensive city in the June conversion - was noted for being at A$668,030 (€$492,000, £315,000).

The occurance was referenced to international city price comparisons by the local Sydney press.

They reported the Australian Treasurer Joe Hockey said the Federal government was willing to work with the New South Wales government to address what he described as a housing "supply logjam".

"The demand is extraordinary for Sydney so the response has to be to increase the supply of housing," Mr Hockey told reporters on Thursday.