Noosa News
Domain report shows Sydney unit values shrinking as house prices reach record high
House prices in Sydney reached a record high at the end of 2020, but the harbour city’s units have lost the most value of all capital cities, according to a new report.
Key points:
- Sydney’s unit prices were $20,000 less than when the pandemic began
- However Sydney’s house prices were $13,000 above 2017’s peak
- Regional NSW’s property prices surged amid the uptake of remote working conditions
The median house price in Sydney in the December quarter was $1.21 million after a jump of nearly 5 per cent, the Domain report said.
That is about $13,000 above the previous peak in mid-2017.
But the gap between houses and units in Sydney continued to widen, the report showed.
The value of units in Sydney fell about $20,000 from pre-pandemic levels — the…
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