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Surrounded by Million-dollar Suburbs

May 27th, 2007 at 07:27 am

The area in which we have both our home and our investment property (coloured green in the diagram below (adapted from a recent SMH article) is surrounded by suburbs where the average house price is now over A$1m. This is quite reassuring as in Sydney it seems that the higher-priced suburbs have been the most resilient in the recent property downturn, and over time experience the greatest gains. Apparently while it is hard for the average worker in Sydney to afford a house with average prices approaching the half-million dollar mark, executives working for investment banks are awash with cash and snapping up any multi-million-dollar houses that come up for sale.



Enough Wealth

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