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Property market update: Sydney, March 2021
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House prices continue to rise, but which city is now the most expensive?
By Bianca Dabu
08 April 2021
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1 minute read
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While house prices in capital cities continue to grow, units are struggling to keep up as a result of the COVID-19 pandemic.
Figures from SQM Research revealed that capital city average house prices have increased 3.5 per cent over the week ending 6 April 2021, bringing the median asking price to $1,006,500. Over the month, house prices have remained stable, while annual figures indicate a 1.9 per cent increase.
In contrast, average unit prices across capital city markets decreased by 1.5 per cent to a median of $564,300 over the same week. This reflects a monthly decline of 0.9 per cent and an annual decline of 1.8 per cent.