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:
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 |
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