Sydney's median house value growth modest: Residex

Quarterly growth in the value of Sydney’s median house was a modest 0.03 percent for April, off the back of losses in the March quarter according to Residex.

Residex state Sydney has a stagnant median house value of just over $1,040,000, where it has been hovering around since January, however units in the Sydney market increased a significant 1.26 percent over the April quarter, following losses in January. The median Sydney unit is now at a historic high of $695,000.

According to Residex the Melbourne market experienced more significant easing in the April quarter, with the median house and median unit value dropping by approximately $5,000 and $3,000 respectively. 

Table 1 presents the statistics summary for April.

Click to enlarge

Source: Residex