Sydney comes in second globally

Sydney Median Property Prices

In a recent report, Sydney had placed second globally for the least affordable city and property prices.

The recent global report comprehensively ranked middle-income housing affordability using a “median multiple” score, which is calculated by dividing the average house price by the average household income.

Any city that has a score of 5.1 and over is considered “severely unaffordable”.

Sydney is second to HongKong globally and below is a quick breakdown of the ranked global top 10:

0124-least-affordable-cities

 

Here are the median property and rental prices for Sydney in 2017:

HOUSE AND UNIT PURCHASE PRICE

HOUSE/UNITS MEDIAN PURCHASE PRICE
Average $880,000
1 Bedroom $727,500
2 Bedroom $1,243,000
3 Bedroom $1,915,000

HOUSE AND UNIT WEEKLY RENT

HOUSE/UNITS MEDIAN WEEKLY RENT
Average $750
1 Bedroom $640
2 Bedroom $900
3 Bedroom $1,600