More Sydney Homes Have Doubled Their Purchase Price – Up 11 Percent

Five years of record growth in the Sydney property market has resulted in 48 percent of home owners having a property worth at least double the purchase price. Recent CoreLogic data highlights an increase of 11 percent from similar research; 10 years earlier. The net result is Sydneysiders are in a strong equity position, possibly the strongest in recent memory.

The proportion of homeowners with properties worth less than their purchase price also dropped to almost one in 200. Back in 2007, the figure was one in fourteen.

The Melbourne property market is following a similar trend with 47 per cent of properties worth at least double the purchase price over the past five years. Perth, Adelaide and Brisbane haven’t done as well at around 35 per cent of properties that had doubled in value.

Forty-Six New Suburbs Join The $1 Million Club Across NSW

Continued housing price growth across NSW the past 12 months has seen another 46 suburbs with a median sale price over $1 million taking the overall total of suburbs in NSW to 567, which is an increase of around 8 per cent.

Here is a list of new million-dollar median suburbs for the past 12 months.

Around Sydney

Woronora rose 32 per cent to $1.3m
Bonnet Bay rose 29.6 per cent to $1.27m
Kurnell rose 26.9 per cent to $1.206m
Sydenham rose 24.1 per cent to $1.21 million.
Bangor rose 12.8 per cent to $1.12m.
Loftus increased to $1.071m.
Menai increased to $1.065m.
Jannali increased to $1.033m
Yarrawarrah increased to $1.03m.

On The North Shore

Mount Colah rose 19.8 per cent to $1.135 m.
Berowra rose 16.6 per cent to $1.09m.
Berowra Heights rose 15.3 per cent to $1.05m.

Out West Of Sydney

Luddenham rose 23.2 per cent to $1.13m.
Picnic Point rose 12.5 per cent to $1,102,500.
Roselands rose 16 per cent to $1.085m.
Riverwood and Northmead increased to $1.075m.
Mulgoa increased to $1.065m.
Winston Hills increased to $1,058,500.
Padstow Heights increased to $1,057,500.
Elizabeth Hills and Revesby increased to $1.02m.
Padstow increased to $1.025m.
The Ponds increased to $1.026m.
Wentworthville to $1,017,500.
Kurrajong increased to $1m also in the last 12 months.

In The Hunter Region

Hamilton East rose 27.4 per cent to $1m.
Cooks Hill increased to $1,040,500.
Merewether rose 33.5 per to $1,331,500.

Around The Illawarra Region

Canyonleigh rose 47.1 per cent to $1,250,000.
Berrima rose 29.4 per to $1,255,000.
Minnamurra rose 37.8 per cent increase to $1.2m.
Burrawong rose 34 per cent increase to $1,152,500.
Thirroul rose 10.6 per cent to $1.1m.
Gerroa rose 17.8 per cent to $1.085m.
Werri Beach rose 14 per cent increase to $1.026m.
Exeter rose 27.4 per cent and Berry rose 16.3 per cent to a $1 million median house price.

The Richmond Tweed Region

Tintenbar, Myocum, Federal and Suffolk Park increased to a $1 million median house price.

Around The Central Coast

Pearl Beach rose 45.6 per cent increase to $1.165m.
North Avoca rose 21.3 per cent to $1.08m.
Toowoon Bay rose 20.1 per cent to $1,032,500.
MacMasters Beach increased to $1.02m and Daley’s Point increased to $1.005m.

Darling Point remains the highest median price point at $6.5 million, followed by St Leonards ($6,468,151) and Box Hill ($5,473,100). Double Bay, Ingleside, Vaucluse and Bellevue Hill are all over $4 million, with a further 17 suburbs median house price between $3 and $4 million and another 87 suburbs between $2 and $3 million.

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