Sydney house prices have been rising consistently for so long that we can now calculate the average growth to the minute in some Sydney areas.
Rising $1 every 40 seconds, or $1.50 every single minute.
This comes as demand continues to outrank supply and low interest rates have surged prices to new heights.
Prices across Greater Sydney (including the Blue Mountains and Central Coast) were at their highest in 1988 at 26% or $267,000. And a year ago, the median house price here was $1.03million, and now sits at $1.29 million, which is an increase of just under $30 an hour.
And this is just the overall median prices with some areas such as the Northern Beaches, Eastern Suburbs and North Shore homes earning more than $69 per hour even up to $120 per hour and beyond, according to CoreLogic Data.
And analysts say that there is more growth on the cards as the cash rate remains low till at least until April 2024, and a shortage of homes for sale, continues to fuel Sydney’s growth.
So, what does that mean for your average Mum and Dad investors?
It might seem like a pipedream that’s out of reach but there are avenues you can take to invest in properties from $550,000 in Sydney today, so if you want to know more, because time literally is money, as you can see above, then get in touch with our team today and get planning today!
Our goal is to help as many people as possible, create a future of financial freedom for themselves and their loved ones so get in contact on 1300 522 562 or email team@jrprosperity.com.au
When considering an investment property with positive cashflow, it is important to make sure it is suitable to your specific financial goals and objectives. Remember to do you due diligence and is you need advice; JR Prosperity Partners can help you decide if this is the best strategy for you.
