Figures from CoreLogic’s latest Home Value Index reveal that houses in Sydney worth close to $5 million rank among Sydney’s top 2 per cent, as do apartments for half that amount.
A Victorian terrace in Paddington with three bedrooms and renovated interiors sold for $4.8 million by BresicWhitney’s Maclay Longhurst. But the figures will be cold comfort to the vast majority of Sydney homeowners. The top 2 per cent has a threshold price of $4.88 million, more than four times the $1.12 million median value of all homes in Sydney.Lawless said the wide price gap between the median and top 2 per cent indicates a greater diversity of housing in terms of geographical area and price extremes from one end of the city to the other.
PPD’s Alexander Phillips, who sold a contemporary five-bedroom house with a pool and designer interiors in Woollahra village recently for $13.15 million, said the vast majority of buyers in the area were already established in the housing market, so they tended to be already cashed up. The lower north shore rounds out the country’s top five most expensive areas, given Hunters Hill’s $7.144 million and North Sydney’s $7.132 million.
Lucy_Macken Sydney's an overcrowded mess. Much better value for money elsewhere.