An article about the most popular Australian home buyers.
The Australian Financial Report, released this week, finds the number of house buyers increasing from 5.9 per cent in June to 6.5 per cent today.
The median price for the Sydney suburb of Waverley, where most of the country’s new house buyers are living, is now $3.9 million.
The average price in the inner suburbs of Perth and Darwin, where many of the new buyers are settling down, is about $4 million.
And in Hobart and Launceston, where the median price is about half that, house prices have risen by a little over $1 million.
For most of this time, the average house price in Sydney has been well below the national average.
The price of an average home in Sydney is now about $8.4 million, according to the latest data from the Australian Bureau of Statistics.
But, according with the latest numbers, Sydney is in the process of hitting a new peak.
The latest ABS data shows the median house price is now at $824,000.
It’s up $1.3 million from the previous quarter and up $500,000 from the year before.
In the past four years, Sydney house prices rose by more than 20 per cent, and are now at the highest levels in the country.
In 2015, Sydney’s median house prices increased by about 15 per cent to $838,000, and in 2016, they rose by about 10 per cent and by 6 per cent each to $840,000 and $834,000 respectively.
The biggest gains were in the outer suburbs of Sydney, where house prices were up 10 per, 11 per and 12 per cent respectively.
That’s because of the arrival of new residents, as well as the strong Australian dollar and an improving housing market.
But Sydney’s suburbs are still far from being the hottest market in Australia.
The national median price of a home in the capital city is now almost $1,200,000 – a drop of about $800,000 in the past year, according the latest figures.
But this is still about half the price of the average Sydney house.
In Sydney, there is still a significant gap between the median and the price per square metre of a house, meaning there is a lot of supply and demand.
This has been exacerbated by the high cost of living in the city, with rents being more than double what a Sydney property would cost.
A new study from the University of Technology, Sydney, found that the average household income in Sydney was $80,000 last year, while the average income in the rest of Australia was $50,000 or less.
This is partly due to a huge supply of cheap, high-rise apartments and high-priced rental housing in Sydney, as rents and mortgages in Sydney continue to skyrocket.
The city has also seen a dramatic increase in the number and proportion of people moving into the city.
In just one of Sydney’s CBDs, the inner west, there were 2.7 people per square metres in 2016.
This has now risen to about 10.5 people per sq metre, according, according research from the Institute of Housing and Planning.
In other parts of Sydney there is an even greater concentration of new housing developments, as more than 300 new homes are under construction in the CBD alone.
But for many, the biggest jump in house prices has come in the north.
The northern suburbs of Coffs Harbour and Ballarat have seen house prices soar more than 40 per cent since the start of the year.
The trend in the northern suburbs is not limited to just Coffs, however.
In some areas of Sydney such as the south-east and east, prices are soaring, and prices have been higher than the national median.
The suburbs of Cairns, Wagga Wagga, Wodonga, Wollongong and Mount Druitt have also seen house price rises, but only recently.
In Coffs and the south, the national home prices have fallen by between 40 and 50 per cent.
But the Coffs house prices are now up about 20 per the national averages.
And the price growth in the southern suburbs has been even greater.
Wagga Waggaga’s house price index is up more than 30 per cent over the past two years, according some recent research from real estate firm Macquarie.
It’s now up more over the median, according Macquari, and up about 50 per per cent compared to the national index.
But the city’s south-west has seen prices surge more than 70 per cent this year, and the Coffer house price has increased by nearly 50 per a cent.
Coffs has been one of the hottest areas for house prices in Australia in recent years, as many young professionals are settling there.
But this is only the beginning.
The housing market is not without risk.
The number of people who are looking for a place to live is growing,