The smaller the house in Sydney, the bigger the price growth in 2023, according to Domain.
Domain’s data showed that the value of a two-bedroom house in the city increased 17.9% during the year to a median of $1,032,000, marking the first time they’ve reached over a million dollars.
Meanwhile, three-bedroom homes went up by 15.8% to $1,166,000, and four-bedroom houses by 14.5% to $1.5 million.
Domain’s chief of research and economics Dr Nicola Powell said the different house sizes were each at record highs, reflecting the Sydney house market’s strong rebound from the previous downturn.
However, more buyers were having to compromise on their location, property sizes or type as they hit affordability barriers – pushing more demand to cheaper homes.
