Market wrap for Strathfield – Burwood – Ashfield April 2024 quarter

Sydney’s housing market recovery has moved through its fifth consecutive quarter of house and unit price growth – momentum not seen since late 2020 and into 2021. It marks a significant milestone for Sydney house prices as they have crossed $1.6 million for the first time – gaining 12.8% (or almost $185,000) since the December 2022 price trough. While the persistent growth has accelerated annual gains to a two-year high, quarterly gains have marginally eased. Unit prices are also on track for a new record, having now recouped just over $55,000 of the $59,000 value lost during the 2022 downturn – leaving only about $4,000 to recover.