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Eastern Suburbs Property Market

Australian Property Monitors this week delivered both good and bad news for the Eastern Suburbs property market.

APM reported that the Eastern Suburbs – with Sydney’s highest median house price of $1.46 million – has recorded the biggest fall in median houses prices in the past year. It’s down by 5.5 per cent.

The good news is that the East picked up a bit in the three months to the end of May, with median prices improving 0.52 per cent. But growth was stronger on the lower north shore and the northern beaches, whose median prices rose by 6 per cent and 5 per cent respectively.

With increasing reports of stable interest rates there is little doubt that we are now in a balanced market in the East with prices estimated to remain at current levels for the short to medium-term.

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