Residex market update: Pete Wargent
Sydney median house prices were up by 1% in October to be up by 21% over the year to $1,058,500.
Sydney median unit prices were also up by 1% in the month to be up by 15% over the eyar to $684,500.
There has also been moderate growth over the past year for Brisbane houses (4%) and units (3%).
Interestingly Melbourne has now picked upp the pace, with house prices in the Victorian capital recording growth of 7% in the last quarter alone to be 11% higher over the year.
On the other hand, some moderate declines were recorded in other cities and regions.
In other news, there was a very strong result recorded for the Reserve Bank's Financial Aggregates.
PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and blogger.
His latest book is Four Green Houses and a Red Hotel.
Pete Wargent
Pete Wargent is the co-founder of BuyersBuyers.com.au, offering affordable homebuying assistance to all Australians, and a best-selling author and blogger.
