Sydney's housing market declines to prosperity, XNUMX% houses rebound
Affected by the weak housing market, Sydney’s overall house prices are on a downward trend, but things will be reversed. When the weakness reaches the extreme, there will naturally be an opportunity for a rebound. According to the “2012 Housing Market Guide” presented by The Sun today, last year, Sydney had 60% of urban areas. The median house price is on the rise. Among the 22% of the house price increases, 30% of the houses and 5% of the apartments have a median house price increase of more than XNUMX%.
According to Andrew Wilson, senior economist at Australian Property Monitors, the rise in housing prices is a happy event for the current sluggish housing market. He said, "In addition to the 60% increase in urban housing prices, it is gratifying that, Among those properties that have fallen in price, nearly 63% of the houses have fallen from high prices, that is, those houses themselves are already at a higher price level rather than ultra-low prices."
(News reading: Australia Daily)