Now here’s a statistic for early 2017.
There are now more suburbs in Sydney with a median house price of more than $2 million that there are with a median price of $600,000 or lower.
These charts from CoreLogic — the source of the unbelievable statistic — show the evolution in the median suburb price in Sydney, starting from December 2011 to December 2016.
We’ve highlighted the Sydney figures in each.
Here’s December 2011:
And here’s December 2015:
And here’s December 2016, just one year later:
Yes, it’s an expensive city if you want to buy a house (and not much cheaper if you want to buy a unit).