The Sydney housing market performed encouragingly in the first three months of 2012, according to the latest Australian Property Monitor’s March Quarter House Price Report.
The median house price rose 1.4 per cent during the quarter, with the median apartment price up strongly by 2.5 per cent over the same period.
The rises in median prices are the best quarterly results since June 2010.
The median house price for Sydney stands at $641,037, with the apartment median at $462,145.
Although clearly remaining Australia’s most expensive capital, the continued strength of the Sydney housing market is also clearly evident.
The APM report revealed that the national median house price increased by 0.9 per cent, while the median unit price rose by 0.1 per cent.
All capital recorded a rise in median house prices, with the exception of Brisbane and Adelaide, which each recorded marginal falls of 0.3 per cent over the quarter.
After a subdued year for buyer activity and house price growth, the Sydney market has revived early in 2012 as expected, recording encouraging median house and apartment price growth.
There has been increased buyer activity as indicated by recent Australian Bureau of Statistics data reporting rises in both owner-occupied and investor home loans.
these resurgent results combined with rising auction clearance rates have clearly translated into increases in median prices over the March quarter.

Andrew Wilson’s Weekly Snapshot
Domain April 28-29, 2012