More Comparison Shopping: Sydney, Australia

This is simply for those that love to compare, and broaden your knowledge of real estate around the world. This comes from one of our readers in Sydney Australia. Sydney has claimed the top spot for Australia’s most expensive city, in terms of real estate, with a median home price of $515,800 ($440,655 USD).

Some good quotes:

“The strong growth registered in many Australian cities is a consequence of growing pressure due to housing supply constraints, which has been building since 2003 … insufficient housing supply will underpin continued property price rises in the years to come.”

“The fact is that housing affordability remains a major concern for many Australians who are caught in the rental trap. Disturbingly, it appears that affordability in many cities will only deteriorate in the future.”

“the average Australian mortgage size – a reflection of property prices and confidence – jumped 5.6 per cent from $300,000 in December 2006 to $317,000 in June 2007.”

Sounds kind of familiar doesn’t it?

More Comparison Shopping [theFrontSteps]

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