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What will your median house price be in 2018?

There has been much speculation and hype in recent months about whether the current housing boom experienced in Sydney and greater NSW can continue into the foreseeable future. When you consider Sydney’s median house price (across the metropolitan area) has increased in excess of $500,000 over the last five years, the question remains can this ‘boom’ continue?

So just to be clear, let’s look at the difference between what defines the median house price versus the average house price.

The median house price refers to the middle of a range of numbers from lowest to highest, whereas the average house price adds all properties in a list and divides by the number of properties within that list. For example if 11 properties were sold, then the median price would be the price of the 6th property sold from lowest to highest. By way of contrast, the average house price would be the combined value of the 11 properties sold divided by 11.

So when we look at median house prices at a national, state or suburb level, you will always have houses that are above the median value and of course houses that are below the median value. Whilst the data provides an indication of house prices in your suburb or area, you need to be aware of how your property compares to those properties around you.

The team at Urban Greenfield have compiled a list of estimated median house prices in Sydney’s North West and Central West NSW. Take a look at what your estimated median house price will be by March 2018. Data courtesy of CoreLogic.

Sydney North West Suburbs Estimated Median Price – 31 March 2018
Annangrove $3,196,331
Kenthurst $2,773,982
Oakville $2,251,270
Arcadia $2,021,286
Windsor Downs $1,934,364
Bella Vista $1,866,029
Dural $1,728,600
Castle Hill $1,719,646
Glenhaven $1,673,632
Pitt Town $1,408,850
Glenorie $1,383,046
Kellyville $1,263,652
Beaumont Hills $1,247,773
Baulkham Hills $1,236,753
Rouse Hill $1,140,760
Glenwood $1,089,643
The Ponds $1,067,151
Kellyville Ridge $1,063,696
Colebee $1,040,406
Wilberforce $992,061
Kings Langley $982,450
Stanhope Gardens $973,308
Parklea $941,155
Acacia Gardens $921,421
Schofields $886,666
Quakers Hill $820,588
Marsden Park $805,391
Riverstone $788,253
McGraths Hill $784,540
Marayong $765,909
Windsor $709,111
Bligh Park $705,681
Shalvey $562,836
Berkshire Park Data not reliable
Cattai Data not reliable
Maraylya Data not reliable
Nelson Data not reliable
Scheyville Data not reliable
Shanes Park Data not reliable
Vineyard Data not reliable

 

Central West NSW Suburbs Estimated Median Price – 31 March 2018
Millthorpe $451,709
Bathurst $382,478
Orange $372,198
Blayney $287,305

Data courtesy of Danielle Cahill, CoreLogic, 18 October 2017.

If you would like to know more about house prices in your suburb, contact us today.

Trent McKellar is Managing Director of Sydney-based real estate and property development firm, Urban Greenfield.

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