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The median price for a house in Sydney soared to $1,722,443 by the end of June, marking a 2.6% quarterly increase and a 4.2% rise year-on-year, according to Domain’s Q2 house price report.
This marks the city's fastest quarterly growth in two years and the third consecutive rise.
Alongside, unit prices hit a record $834,791, increasing by 1.5% over the same period.
A decade past, Sydney’s median house price was approximately $1 million, indicating a 70% increase, and two decades ago, it stood roughly at $550,000, showing a 220% rise. Currently, Sydney also leads the nation in median asking rents, with houses at $780 and units at $740 as of Q2 2025.
A recent analysis by Mark Litwin, Head of Investment Sales at Knight Frank NSW, underscores the inherent housing supply issues. He points out that population growth, primarily fuelled by overseas migration, significantly exceeds housing completions, creating a persistent shortage that supports house price inflation.
This diagnosis echoes projections from the National Housing Supply and Affordability Council (NSAC), which foresees New South Wales missing its housing target by 130,000 units over the next five years, largely due to net overseas migration.
In 2024, NSW's population surged by 108,000, with net overseas migration accounting for the vast majority-106,700. Over the preceding decade, 88% of the state’s population growth was attributed to overseas migration, compounded by migrant birth rates.
Experts argue the root of New South Wales's housing shortfall is excessive net overseas migration. Thus, it is recommended that the state government advocate for federal immigration policy adjustments to sustainable levels that can be readily integrated.
Critics claim that maintaining high migration levels will not alleviate the housing crisis, suggesting that other policy measures alone may be inadequate. Without addressing population growth, the housing market may continue to pressurise young Sydneysiders, prompting them to seek more affordable living elsewhere.
In a significant leadership transition within Australia's banking sector, Nuno Matos, Chief Executive Officer of ANZ Group, has been appointed as the new chair of the Australian Banking Association (ABA) council. This appointment marks a pivotal moment for the ABA, an organisation that plays a central role in shaping industry policies, consumer protections, and regulatory frameworks across the nation's banking landscape. - read more
Loan Market Group's Asset Finance Exchange (AFX) has reported a remarkable achievement, settling approximately $80 million in its inaugural year. This milestone underscores the burgeoning growth of Australia's asset finance sector and highlights the platform's effectiveness in connecting brokers with asset finance specialists. - read more
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In the financial landscape of Australia, credit scores stand as a crucial measure of one's financial health and credibility. A credit score, essentially a numerical representation of your creditworthiness, is used by lenders and financial institutions to determine the risk involved in lending to you. This score can range from 0 to 1200, where higher scores signify better credit health and an increased likelihood of securing loans with favorable terms. - read more
Managing debt is a crucial aspect of financial health, especially for millennials in Australia. With student loans, credit cards, and personal loans, it's easy to feel overwhelmed by the debt landscape. However, understanding your options and making informed decisions can set you on the path to financial freedom. - read more
