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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.
The Australian Securities and Investments Commission (ASIC) has recently conducted a comprehensive review of the nation's motor vehicle finance sector, uncovering significant issues that raise concerns about consumer protection and lending practices. - read more
The Commonwealth Bank of Australia (CBA) has unveiled a pioneering artificial intelligence (AI) assistant designed to enhance price discovery and transparency in the Australian car market. This innovative tool aims to empower consumers by providing detailed insights into vehicle pricing, a resource previously accessible primarily to car dealers. - read more
Australia is witnessing a significant shift towards sustainable transportation, as evidenced by a remarkable surge in financing for electric and hybrid vehicles. In 2024, the Australian Finance Industry Association (AFIA) reported that over $6.17 billion was allocated to finance 104,835 electric and hybrid vehicles, marking a 50% increase from the previous year. - read more
In a significant move towards promoting sustainable transportation, essential workers and individuals earning below $100,000 annually in Australia now have access to more affordable electric vehicle (EV) loans. This initiative is part of the Clean Energy Finance Corporation's (CEFC) collaboration with CommBank's EV Access Program, which has allocated $150 million to support discounted loan rates for new and used EVs priced up to $55,000, as well as EV home charging equipment. - read more
The Australian Securities and Investments Commission (ASIC) has recently conducted a comprehensive review of the nation's motor vehicle finance sector, uncovering significant issues that raise concerns about consumer protection and lending practices. - read more
The Australian Securities and Investments Commission (ASIC) has recently conducted a comprehensive review of the nation's motor vehicle finance sector, uncovering significant issues that raise concerns about consumer protection and lending practices. - read more
The Australian used car market is witnessing a notable surge in hybrid vehicle sales, reflecting a growing consumer inclination towards sustainable and practical transportation options. - read more
Australians have a variety of car financing options at their disposal when the time comes to purchase a new vehicle. From dealer finance to personal loans and leasing agreements, the variety of choices can be both empowering and, at times, overwhelming. Opting for a car loan is a common route, giving buyers the ability to spread the cost of their new set of wheels over time. - read more
When it comes to purchasing a car, one of the biggest decisions to make is choosing between a long-term and short-term car loan. Understanding car loans and their significance can make a substantial difference in your financial future. - read more
Finding the perfect car is an exciting journey, but securing the right car loan to finance it is an equally critical step. Choosing a loan with favorable terms can make a substantial difference to your wallet and overall well-being. This introductory guide is designed to navigate the nuances of car loan negotiation, ensuring you drive off not just with the car of your dreams, but a loan that suits your lifestyle and financial goals. - read more
When it comes to financing a car, the importance of vigilance cannot be overstated. Navigating through the maze of loan offers and financial jargon can be overwhelming, making it all too easy to overlook critical details that could cost you dearly in the long run. - read more
Owning a car comes with a lot of responsibilities and unexpected expenses. From regular maintenance to surprise repairs, the costs can quickly add up and create financial stress. - read more
In the journey to securing a car loan, understanding the importance of proper documentation is a crucial first step. Proper documentation not only saves time but also significantly boosts your chances of approval. Lenders pay close attention to your paperwork, using it to gauge your financial reliability and commitment. - read more
Finding the perfect car is an exciting adventure, but securing the right car loan is where the real journey begins. The terms of your car loan can significantly influence your financial health and lifestyle. It's not just about the monthly payments, but also about how the loan will fit into your life for years to come. That’s why understanding the importance of finding a loan that complements your financial situation and lifestyle is crucial. - read more
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Knowledgebase
Negative Amortization: A situation in which the loan payment for any period is less than the interest charged over that period, causing the loan balance to increase.