Latest NewsPrice Rise Another Sign Sydney Market is StirringMonday, 29 May 2017

The Sydney median house price has risen for the second consecutive quarter.

Data from Australian Property Monitors reveals the Sydney median house price has risen for the second consecutive quarter.

It jumped 1.1 per cent from the $639,770 recorded for the February quarter to $646,662 for the May quarter. This follows a 1.1 per cent rise over the April quarter.

Sydney's May median house price is 0.5 per cent higher than that recorded for the May quarter last year.

The biggest contributor to the rise came from the top 25 per cent of the market, which increased by 5 per cent. The bottom 25 per cent, however, showed no growth in median house prices in the May quarter.

Nationally, median house prices rose by just 0.1 per cent during the May quarter, increasing from $547,682 to $548,109.

Median house prices rose in three other capitals: Canberra by 1.8 per cent, Melbourne by 0.9 per cent and Hobart by 0.8 per cent. Darwin was down by 4.6 per cent, Adelaide by 2.6 per cent, Perth by 1.7 per cent and Brisbane by 1.2 per cent during the quarter.

Sydney housing is showing signs of stirring. Last weekend's auction clearance rate of 60 per cent was higher than the rate at the same time last year. When more auction results came in this week it was revised down to 59 per cent.

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