Residex mulls the Sydney bubble

By Leith van Onselen

Residex has released its house and unit price results for May, which revealed a 0.11% fall in house values over the month but a 0.16% rise in unit values. Over the year, house values rose by 5.72% nationally, with unit values up by 5.60%:

As shown above, Sydney continues to be the primary driver of house values nationally, with values in Sydney jumping another 1.64% in May, and by 16.70% over the year, bringing the median house value there to a whopping $961,000! Melbourne values, too, are rising strongly, with houses up 2.46% over the month and by 8.18% over the year.