Unrealistic Great Australian Dream of a quarter-acre block is over for Sydneysider
The result of Sydney’s property boom: A city of millionaires on the verge of a class divide
Australian housing policy needs to shift away from investors to cater to renters, say experts
Despite a push from planners for a city of high-rise apartments, new data shows Sydneysiders aren’t willing to give up on the traditional Great Australian Dream.
READ MORE VIA DOMAIN.COM.AU
Fastest growth areas in Sydney
| LGA | Number change from 2015 to 2016 | Percentage change from 2015 to 2016 | Distance from CBD | Median house price | Median apartment price |
|---|---|---|---|---|---|
| Camden | 5432 | 7.5 | 65 kilometres | $720,000 | N/A |
| Botany Bay | 2720 | 5.8 | 5 kilometres | $1,412,500 | $780,000 |
| Lane Cove | 1128 | 3.1 | 15 kilometres | $2,260,000 | $805,000 |
| Parramatta | 6464 | 2.8 | 25 kilometres | $935,000 | $556,500 |
| The Hills Shire | 4440 | 2.8 | 30 kilometres | $1,280,000 | $739,500 |
Source: ABS, areas outside Sydney have been excluded, median prices from Domain Group for the December 2016 quarter
There has been a push to become a city dominated by high-rises, but Sydneysiders have different ideas. Photo: Andrew Meares