Sydney house prices to rise 9pc to a record high

According to The Australian Financial Review, Sydney house prices are predicted to increase as much as 9 per cent by June next year, powered by strong demand from surging population growth and scarce listings, despite further interest rate rises expected this year, Domain says.
By the end of financial 2024, Sydney median house prices are expected to hit $1.66 million, which would eclipse the $1.59 million peak set in March 2022.
Australia’s housing market is also forecast to have moved towards a well-established, steady recovery over the financial year 2024 as interest rates stabilise or begin to decrease.
Population pressures combined with chronic undersupply would fuel price increases, even as interest rates were still expected to rise this year, said Nicola Powell, Domain’s chief of research and economics.

https://www.afr.com/property/residential/sydney-house-prices-to-rise-9pc-to-a-record-high-20230621-p5di9q