Residex: Sydney housing values absurd

Monday 2 November 2015

Residex has released its house and unit price results for September, which revealed a 0.8% rise in Australian house values over the month and a 1.1% rise in unit values. Over the year, house values rose by 7.2% nationally, with unit values up by 7.7%:

As shown above, Sydney and Melbourne continue to be the primary driver of house values nationally, with values in Sydney jumping another 1.0% in September and Melbourne’s by 2.5%, and 5.4% (Sydney) and 5.3% (Melbourne) growth recorded over the quarter. Sydney’s median house price also hit a whopping $1,047,500 in September, with Melbourne rising to $718,000.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.