New record prices as buyer demand rises
The graphs show a strong rise in turnover of 4169 property with 66% more apartments and 46% more houses sold in 2021 than the previous year. The busier apartment market has one important difference from the peak of 2013/15: our recent surge in activity is all about buyer demand and not the increased supply from new projects we saw back then.
With such strong turnover and demand the median prices were almost certain to rise. And rise they did! Even with a median 2021 sale price of $1.23m our houses are highly sought-after, while local apartment prices are also rising quickly – the median rose 13% to $552,500.
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