Can you still buy something close to Sydney's CBD for under $500,000?

Last month RPData released a report listing median house and unit prices in Sydney. Surprisingly, there are two suburbs within a 10km radius of the CBD where you can still buy a house for less than $500K – Sydenham & Tempe. You just have to put up with a bit of aircraft noise…

You have a lot more options if you are wanting to buy an apartment. Due to an abundance of 1 bedders and studios, the City of Sydney Council area has the highest number of suburbs (20 in total) where unit prices are under the $500K mark. A further four suburbs can be found within the North Sydney local government area (LGA) and two each in Leichhardt and Woollahra LGAs.

The opportunities are diminishing, however as property values continue to rise, so how much longer we will have the chance to buy anything under $500,000 close to the CBD is anyone’s guess… Only yesterday, an article in the Sydney Morning Herald predicted further rises – and the median house price for Sydney is now $607,000, with the median unit price still under the half million mark at $457,000.

Click on this link to read that article: http://www.smh.com.au/business/house-prices-to-rise-further-but-theyre-worth-it-says-rba-20091125-jrta.html?autostart=1

For more information on buying property in Sydney: http://www.gooddeeds.com.au/