The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FULL PROGRAM RELEASED FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FULL PROGRAM RELEASED FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
VIEW FULL AGENDADETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OtherStaff WriterSun 20 Mar 16

Sydney Confirmed As Australia's Top Premium Market

B

Sydney is by far and away the nation’s most expensive housing market, according to a

new analysis by CoreLogic.

The new research showed over the three months to January 2016, the 90th percentile price of a house in Sydney was $1.5 million and the 90th percentile unit price was $980,000.

"Over the same period, the two capital cities with the next highest 90th percentile house price was Melbourne at a still high but much lower $1,050,000. This highlights just how much more expensive housing is in Sydney and to a lesser degree Melbourne is relative to other capital cities. As an example the next highest 90th percentile price is Perth at $870,000," CoreLogic's Cameron Kusher said.

CoreLogic's analysis looked at the top decile of selling prices over the three months to January 2016.  A decile divides a group into ten equal parts so if there were 20 sales over the three months lined up from lowest to highest you could take the 18th price as a representation of the most expensive segment of the market.
90th percentile price of houses and units
3 months to January 2016

The report showed there was a large difference between the cost of premium housing in capital cities and non-capital cities.  The 90th percentile house price across the combined capital cities is $1,010,000 compared to $675,000 in combined regional markets.

Similarly, 90th percentile unit prices are $830,000 in the combined capital cities compared to $600,000 outside of the capitals.  This data points to the fact that non-capital city areas are the great un-tapped resource for more affordable housing.  Of course employment opportunities in these areas are the main factor holding back the regional areas of the country.

The table below highlights the five most expensive suburbs for both houses and units in each state.  The data is based on median values and we have only included suburbs that had at least 10 sales over the 12 months to January 2016.
Suburbs with most expensive median values, January 2016

The Sydney premium becomes very evident when we look at the most expensive suburbs in each state based on median values.  The data shows the 5 most expensive suburbs for houses in NSW (all of which are in Sydney) all have a median value of more than $4 million.  In comparison, the most expensive suburbs for houses in Vic and WA are more than $3 million, in SA it is more than $2 million, in Qld, NT and ACT it is more than $1 million and in Tas it is less than $850,000.

ResidentialAustraliado not useSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
Exclusive

Fortis Reveals Plans for Coveted Bowen Terrace Site

Taryn Paris
4 Min
Exclusive

Accor Deputy Delivers Verdict on Brisbane Games Hotel Shortfall

Phil Bartsch
6 Min
Qld Budget 2025-26 Brisbane City
Exclusive

Billions Promised, Now Deliver: Industry’s Qld Budget Verdict

Vanessa Croll
6 Min
Medium Density housing in NSW
Exclusive

NSW Budget ‘Groundbreaking’ $1bn Guarantee to Unlock Housing

Leon Della Bosca
7 Min
View All >
Lincoln Place Eagle Point Bowls Club and Clubhouse
Land Lease Communities

Lincoln Place Plots 209-Home Scheme on Gippsland Purchase

Leon Della Bosca
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
Linic Property Group Saunton Jindalee
Residential

Linic Group Moves 43-Unit Jindalee Scheme Ahead

Leon Della Bosca
The five-storey $26-million project 200m from Indian Ocean promises “new benchmark in coastal living” …
LATEST
Lincoln Place Eagle Point Bowls Club and Clubhouse
Land Lease Communities

Lincoln Place Plots 209-Home Scheme on Gippsland Purchase

Leon Della Bosca
3 Min
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
Linic Property Group Saunton Jindalee
Residential

Linic Group Moves 43-Unit Jindalee Scheme Ahead

Leon Della Bosca
3 Min
Lindfield SSD Resi EDM
Residential

North Shore $154m Apartment Play Tests Zoning Limits

Vanessa Croll
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/sydney-confirmed-as-australias-top-premium-market