Asking Median Price in Sydney At a Record $1m

[Lord Shanghai]

An interesting article from Bloomberg

http://www.bloomberg.com/news/2014-...and-record-a-1-million-median-sale-price.html

Congratulations to SQM Research for rating a mention.

Please be aware that this is the current ASKING median price, half of the houses for sale will be below this figure. There may be value to be had at the bottom end. I'm not a Sydney investor and I have no idea where the market is going.

 

[S.T]

Found this little gem from that article funny.

?Right now it would be impossible to purchase a free standing house in Sydney?s inner ring for under A$1 million,? SQM Managing Director Louis Christopher said. ?I don?t see any change in the immediate future. It?s going to remain a pretty strong sellers? market.?

Isn't median the middle value? Meaning there is just as many properties under 1 million median than there are over it? Now if only Frankston can reach these dizzying heights...!

 

[Richard Feynman]

Found this little gem from that article funny.



Isn't median the middle value? Meaning there is just as many properties under 1 million median than there are over it? Now if only Frankston can reach these dizzying heights...!

Right now it would be impossible to purchase a free standing house in Sydney?s inner ring for under A$1 million,

Just a little confusion there. He's not referring to Sydney the city, just the inner ring.

 

[Lord Shanghai]

Simtr, the cynics might want to read it again:

"Right now it would be impossible to purchase a free standing house in Sydney's inner ring for under A$1 million" SQM Managing Director Louis Christopher said.

A million for the inner-Sydney area is fair enough. But if one looks at Sydney as a whole it's an entirely different picture. Half of all houses are selling for under a million.

Might be value there somewhere, I really don't know.