House prices rise in more than half of Sydney’s regions in 2019 June quarter: Domain

House prices rise in more than half of Sydney’s regions in 2019 June quarter: Domain
House prices rise in more than half of Sydney’s regions in 2019 June quarter: Domain

Sydney house prices have risen in more than half of the city’s regions in the June quarter, new Domain data shows.

But overall Sydney house and unit price did decline by 0.4 percent.

It was the smallest quarterly fall since December 2017, according to Domain’s June House Price Report.

The median house price dropped to $1,032,338 – back to early 2016 levels while the median unit price has dropped to $688,652, back to mid-2015 levels.

“It’s likely that prices have bottomed out in Sydney recently,” said Domain economist Trent Wiltshire.

“This is the biggest downturn in property prices since the 1980s …  it looks to be at least close to an end.”

Sydney’s median house prices

  MEDIAN PRICE QOQ CHANGE YOY CHANGE
Blue Mountains $650,100 0.29% -3.69%
Canterbury Bankstown $825,000 -1.20% -12.23%
Central Coast $605,000 -0.82% -6.92%
City and East $2,125,000 -5.87% -8.44%
Inner West $1,448,750 3.48% -7.72%
Lower North Shore $2,300,000 4.55% -4.96%
North West $1,170,000 1.74% -7.87%
Northern Beaches $1,610,000 -3.01% -6.40%
South $1,050,000 1.69% -11.76%
South West $671,000 0.15% -7.54%
Upper North Shore $1,600,000 1.59% -3.03%
West $675,000 -1.46% -6.90%

Source: Domain House Price Report, June Quarter 2019

 

Wiltshire said the recovery was skewed to higher-priced areas: lower north shore house prices recorded the strongest growth of 4.55% to $2.3 million in the June quarter.

It was followed by the inner west, up 3.48% to $1,448,750.

The upper north shore median increased 1.59 per cent to $1.6 million in the quarter ending in June.

Over the quarter, Melbourne median house prices rose 0.3%.

The best performer was Canberra, who saw their median house price over the quarter jump 1.5%.

It was followed by Hobart whose house prices rose 0.7%.

Capital city median house prices

  Median house price QoQ YoY
Sydney $1,032,338 -0.4% -9.1%
Melbourne $818,237 0.3% -7.7%
Brisbane $559,167 -1.4% -1.8%
Adelaide $540,473 -0.1% 1.4%
Perth $528,186 -2.0% -5.4%
Hobart $474,423 0.7% 3.9%
Canberra $741,947 1.5% -0.1%
Darwin $502,521 -2.3% -2.9%

Source: Domain House Price Report, June Quarter 2019

Sydney’s median unit prices

Sydney's median unit prices didn't perform as well as houses over the June quarter in the same areas.

The worst performer was the Central Coast, whose 7.37% June quarter change took its year on year change to over 10%.

The worst performer year on year is the Canterbury Bankstown area which saw declines over 16.6%.

  Median price QoQ change YoY change
Canterbury Bankstown $500,000 -3.10% -16.67%
Central Coast $440,000 -7.37% -10.39%
City and East $910,000 1.11% -7.61%
Inner West $740,000 2.07% -5.73%
Lower North Shore $852,000 -7.89% -9.36%
North West $660,000 -2.22% -9.47%
Northern Beaches $780,000 -2.50% -11.11%
South $640,000 -4.48% -10.65%
South West $438,000 -2.67% -10.61%
Upper North Shore $723,000 0.42% -6.10%
West $520,000 -5.45% -11.26%
Source: Domain House Price Report, June Quarter 2019

Across the capitals Melbourne was the only one with an increase in the median unit price, up 2%.

Darwin continued its damaging decline, a further 4.8% to be 10.4% down on the year.

Capital city median unit prices

City Median unit price QoQ YoY
Sydney $688,652 -0.40% -7.20%
Melbourne $501,009 2.00% -0.70%
Brisbane $368,382 -3.10% -8.90%
Adelaide $310,642 -0.20% 0.60%
Perth $342,930 -1.60% -7.70%
Hobart $356,751 -6.40% -1.50%
Canberra $448,737 -1.40% 1.90%
Darwin $298,438 -4.80% -10.40%
Source: Domain House Price Report, June Quarter 2019
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Sydney House Prices

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