Residex: Sydney houses top $1 million, mining busts

By Leith van Onselen

Residex has released its house and unit price results for July, which revealed a 1.34% jump in Australian house values over the month and a 0.91% rise in unit values. Over the year, house values rose by 6.80% nationally, with unit values up by 5.31%:

As shown above, Sydney continues to be the primary driver of house values nationally, with values in Sydney jumping another 2.40% in July, by an astonishing 7.58% over the quarter, and by 21.17% over the year, bringing the median house value there to a whopping $1,017,500!