The real estate industry is subject to market fluctuations and economic conditions. The prices of properties can rise and fall based on a number of factors, including demand for houses, new project development, economic boom, etc. A property that might be worth over a million dollars one year might dip down to $900,000 the next because of market conditions. In 2015, the Sydney median house price dropped below one million and continued to drop for a while before rising in 2016. According to CoreLogic, property median prices in Sydney have gone up by 64% since 2012.
The median house price is an easy concept to understand. It’s the middle number of all the properties sold over a defined period of time like a month, a year, or three months in a particular area. This means if around 200 houses sold in Sydney over the course of three months, the median house price for that particular area for that period of time will be the amount will be the price point that’s in the middle. If the most affordable house sold for $250,000 and the most expensive one sold for $1,250,000 and the house exactly in the middle of these two extremes sold for $750,000, then $750,000 will be the median house price.
Buying a home is a big investment, possibly the biggest in your life. You need to make sure you make that investment at the right time. Many potential home buyers don’t do their research first and are forced to pay more than they needed to on the property. One of the best ways to avoid this problem is to hire a real estate agency that is aware of the current median house price in North Ryde. Our real estate agents always do their research and present all the facts to you so you can make an informed decision. One of the first things they’ll discuss is the median house price. Here are some benefits of the benefits:
Our real estate agents are always willing to help you understand the concept of median price and how it can help you. Here’s what we can do for you:
We focus on the customer more than on profit. Just listen to what our clients have to say about our services on our testimonials page. If you want to know more about our services, just give us a call on 02 8889 3894 or contact us through our web form.