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The median house price in Sydney peaked at $780,000 in 2016. [4] However, with stricter credit policy and reduced interest from foreign investors in residential property, prices have started falling in all the major cities. [5] When compared with the soaring prices of 2017, the housing prices fell by 11.1% in Sydney and 7.2% in Melbourne in ...
Sydney and Melbourne have seen the largest price increases, with house prices rising 105% and 93.5% respectively since 2009. These massive increases in house prices coincide with record low wage growth, record low interest rates and record household debt equal to 130% of GDP.
The ratio of the price of the average home to Australians' average income was at an all-time high in the late 1990s. [12] Young people are buying homes at the lowest rates ever, and changes in work patterns are reducing many households' ability to retain their homes.
In Australia, the Housing Industry Association publishes a Housing Affordability Index, [5] which is a "'purchase affordability' metric which is most representative of an individual owner occupier purchasing a home with a mortgage, although it is also indicative of conditions for others transacting in the housing market."
Property investment calculator is a term used to define an application that provides fundamental financial analysis underpinning the purchase, ownership, management, rental and/or sale of real estate for profit. Property investment calculators are typically driven by mathematical finance models and converted into source code. Key concepts that ...
Sydney received 8.2 million visitors in 2016, an 11.4 per cent increase from 2015. The main sources of Sydney's tourists were from north-east and south-east Asia. [3] The Vivid Sydney festival, held annually each winter, attracted 1.7 million visitors in 2015–it is the biggest festival in Australia and one of the biggest of its kind in the world. [4]
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As at 2002, Wolseley Road was the most expensive residential road/street in Australia with 16 of the top 100 most expensive houses in Sydney being located on it. [1] Property writer Cindy Martin calculated in 2002 that the total value of the properties on the one-kilometre waterfront section of Wolseley Road was worth, in total, $720 million. [2]
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