Sydney House Prices Skyrocket 3

Friday, May 1st, 2015
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Buyers searching for a home in Sydney’s cheapest middle ring suburbs are forking out more than twice as much as those in Melbourne.

In Sydney, the most affordable suburbs that sit 10-20km from the city centre are around Canterbury and Bankstown in the city’s southwest, where houses average well over $640,000, CoreLogic RP Data research shows.

The most affordable units in the city’s middle ring suburbs are also in the south west at Lakemba, with a median value of $362,363.

That may seem like a steal, until prices are compared with Melbourne.

There, the most inexpensive houses outside the inner city are mostly in the Hume council area, with Coolaroo recording a median value of $296,365, and Dallas $307,365.

And in Brisbane, homes in the cheapest middle ring suburbs are nearly a third less than Sydney, while in Hobart they are about five times cheaper.

In Brisbane’s south-west, the median price of a house at Gailes is $246,078, and at Woodridge it’s $269,186.

CoreLogic RP Data research analyst Cameron Kusher says as inner city houses become more expensive, demand for homes in middle ring suburbs is expected to rise particularly for those with good local transport links.

“Although some may not consider the middle ring suburbs to be quite as desirable as suburbs in the inner-ring, they generally offer relative proximity to the city centre at lower price points,” he said.

House prices in Sydney remain way about the national average, with Domain research showing the median house price soared past $900,000 in the March quarter.

According to Domain, home prices jumped more than three per cent in the three months to March to reach a median of $914,056.


  • Sydney – Birrong $644,349
  • Melbourne – Coolaroo $296,365
  • Brisbane – Gailes $246,0778
  • Adelaide – Brahma Lodge $255,824
  • Perth – Koongamia $375,562
  • Hobart – Gagebrook $134,718
  • Darwin – Moulden $471,240
  • Canberra – Charnwood $395,799
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  1. Robo

    Completely unsustainable and potentially fatally damaging to the long term national interest.
    Any competent government in the western world would use financial tools available to it (taxation reform) to prevent a market those sole concept is to buy and flip existing houses to the next buyer in order to make profits.
    Everyone should have the right to make a dollar, but our government should be directing our investment to sectors that create long term jobs growth and produce export generating income.

  2. James Park

    All this is yet more evidence of the housing market's failure to provide affordable housing in areas which are close to employment opportunities.

    Unless planning regimes are reformed to allow adequate development of a suitable mix of housing in areas close to where people work, income inequality will be further entrenched.

  3. Garo

    The government is raking in the lots of money from the stamp duty from the property market it not in its interest change the game. There is a conflict of interest here.
    Its disappointing to see our young generation being driven away from the property market.