The average Australian property buyer would paid almost $150,000 less if they were in a position to buy five years ago, in just another example of the incredible rise in prices this year.
CoreLogic data analysis from five years ago reveals startling increases in the median values of properties in Australia s capital cities, where the middle-priced home has grown in some cities by more than $200,000.
In March 2016 the median value â which includes both apartments and free-standing homes â of an Aussie capital city property was $550,000.
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In 2016, the median value of a property in Hobart was the cheapest in the country at $341,500. Today, that median has slid up to an eye-watering $548,686.(Domain)
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A Bondi Beach house on the market for the first time in three decades sold for more than $1 million above reserve at auction on Saturday.
The tightly-held home at 29 Sir Thomas Mitchell Road sold for $5.8 million in a hot auction that drew 15 registered bidders.
29 Sir Thomas Mitchell Road, Bondi Beach.
Bidding for the three-bedroom house kicked off at $4 million, bang on the initial advertised price guide, and climbed in $100,000 increments to start.
It was a quick auction and only a handful of the bidders were able to throw their hats in the ring before the gavel fell at $5.8 million.