A new study has revealed the inner suburbs of Sydney are the most pricey in the country, with the most affordable suburbs, according to the latest data from real estate agents.
A study by Hordemann, which uses a similar methodology to price.com, found the median price of a house in the suburbs of Northbridge, Southbank and Warringah is $1.3 million, compared to the median of $1 million in the city.
The median house price in the inner-city Sydney suburbs of Oakleigh, Burwood, Oakleigh North, Wollongong, North Hobart and Parramatta is $5.1 million, the same as the city’s median house cost.
In the outer-city suburbs of Bondi Beach, North Beach, Waverley, Wentworth and Newtown, median house prices are $2.9 million, $3.2 million and $3 million respectively.
The study also found Sydney’s median home price is $3,400,000, which is $300,000 less than the median house in Melbourne, and $400,00 less than Sydney’s $3 billion median house market.
The price difference between inner- and outer-southern Sydney is particularly pronounced in Northbridge and Oakleigh.
In Northbridge the median home cost is $2,950,000.
The average price is around $3million, while the average price in Oakleigh is $4.5 million.
The inner-southeastern suburbs of Bankstown and Darlinghurst have a median house rate of $2 million, while in the outer inner-Sydney suburbs of Bayswater, Richmond and Wollooong, median prices are about $3m.
However, the inner inner-urban inner-west suburbs of Warringham and Marrickville are not included in the study because they are not considered “out-of-town”.