It’s Sydney’s biggest house price drop, but in the grand scheme of things it doesn’t mean much

• Sydney median house price drops below $1 million

Those who were proud that Sydney had a million-dollar price tag on its houses may feel deflated this morning. After hitting the benchmark last July, the median price has now dropped to $995,804.

But of greater significance, perhaps, is the extent of the fall in such a short period of time.

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