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Published On: Thu, Dec 7th, 2017

The gap between house prices in Brisbane and Sydney has widened even further

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SYDNEY buyers are sure to start eyeing off Brisbane again as the gap between Brisbane and southern house prices widens even further.

New figures released by CoreLogic revealed the median dwelling value in Sydney was nearing $1 million.

According to CoreLogic research analyst Cameron Kusher, it now had a median

dwelling value of $904,041 and was Australia’s most expensive capital city housing market.

Brisbane’s median dwelling value sat at a much more affordable $490,915 making Sydney properties 84.2 per cent more expensive than Brisbane’s.

With the difference between the two capital cities is extreme, even a slowing or price increases in the Sydney market are not expected to bring them much closer any time soon.

According to figures from CoreLogic in the year to August, New South Wales had 36 council areas which had a median house or unit price of $1 m or more, the highest was the Mosman council with a median house price of $3.8 million.

REAL ESTATE: 97 Honour Avenue Chelmer Bedrooms 4 B

97 Honour Ave, Chelmer is listed for offers over $1 million. Picture: realestate.com.au

There were no council areas in Queensland with a median house or unit price of more than $1 million.

Sydney had 435 suburbs with a median house or unit price of more than $1 million while Brisbane had only 24.

In Brisbane, offers of more than $1 million will secure you a four-bedroom house in blue chip Chelmer. The 1920s Queenslander is on more than 1000sq m of land. It is on positioned on the original first tee of Chelmer Golf Course which operated from 1896 to 1903.

While it will still buy you a nice property in Sydney the same sort of money doesn’t go as far.

REAL ESTATE: 5 York Street Sydney NSW 2000 Bedroo

5 York St, Sydney is listed for $1.15 million. Picture: realestate.com.au

An offer of $1.15 million will secure you a one-bedroom unit at 5 York St. The unit has an open plan living and dining area which flows onto a balcony overlooking the city.

Originally Published: www.realestate.com.au

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