Latest NewsSydney Prices Surge Further AheadMonday, 10 July 2017

This spring, Sydney has one sizeable boast: its median house price is now streets ahead of Melbourne's.

The latest Australian Property Monitors data has the July quarter median house price at $639,484 - 16 per cent and approaching $100,000 more expensive than the southern capital's $551,006.

Sydney prices have also streaked ahead of Perth's. At the start of 2007, Perth's median was $530,000 - almost the same as Sydney's.

Perth's median remains $530,000, while Sydney's has risen 20 per cent since then.

The disparity between Sydney and the other capitals is even more pronounced. Brisbane's and Adelaide's median house prices were $440,667 and $437,002 respectively, which is nearly $200,000 or 45 per cent less expensive than Sydney's.

Sydney's units are also Australia's most expensive, with a July quarter median price of $450,566.

It is significantly higher than those recorded by the other major capitals: Melbourne, $388,643; Brisbane, $358,001; Perth, $355,717; and Adelaide, $301,390.

Another important point is that despite being the most expensive, Sydney's market is also the most resilient.

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