Recent data from Domain has confirmed that over the past twelve months Sydney house prices have recorded the largest annual gain since 2017 peak – a fact our readers have been aware of but the media have been slow to report.
Across the Lower North Shore house prices have increased by 13% adding $300,000 to the median price. Apartments have enjoyed a more modest increase of 7.3%. This makes sense as a lot of the construction boom was around apartments, adding to the amount of supply.
The rental market deserves a mention this month, we always experience a busy start to the year but this year has been exceptional with a staggering 49 new leases signed by our office since the start of January. This signals a turn-around in rental prices as demand surges which many landlords will feel is long overdue following several years of negative price pressure.
