At what price are the bulk of sales taking place? John McGrath's capital city sweetspots

At what price are the bulk of sales taking place? John McGrath's capital city sweetspots
At what price are the bulk of sales taking place? John McGrath's capital city sweetspots

The McGrath agency secured Sydney's cheapest weekend auction sale.

Not the $370,000 two bedroom house sale at Marayong in Sydney's Blacktown district, but $368,000 in Centennial Park.

It was a 25 square metre studio apartment at 37/80 Cook Road in the 1970 block, Gardinia (pictured below).

At what price are the bulk of sales taking place? John McGrath's capital city sweetspots

At what price are the bulk of sales taking place? John McGrath's capital city sweetspots

It last sold at $298,500 in 2006, reflecting 2.5% annual growth, while the Marayong house last traded also in 2006 at $265,000, so reflected 4.3% annual growth.

By coincidence John McGrath commented recently on a RP Data report that worked out where the bulk of capital City Sales takes place.

Sydney’s top price brackets

  • $400,000 to $600,000 – 29.6% of sales
  • $600,000 to $800,000 – 20.5%
  • $200,000 to $400,000 – 17.3%

Melbourne’s top price brackets

  • $400,000 to $600,000 – 33.9%
  • $200,000 to $400,000 – 29.1%
  • $600,000 to $800,000 – 17%

Brisbane’s top price brackets

  • $400,000 to $600,000 – 38.8%
  • $200,000 to $400,000 – 37.7%
  • $600,000 to $800,000 – 13.1%

Canberra’s top price brackets

  • $400,000 to $600,000 – 51.7%
  • $200,000 to $400,000 – 20%
  • $600,000 to $800,000 – 18.1%

Perth’s top price brackets

  • $400,000 to $600,000 – 43.2%
  • $200,000 to $400,000 – 19.8%
  • $600,000 to $800,000 – 19%

Adelaide’s top price brackets

  • $200,000 to $400,000 – 48.4%
  • $400,000 to $600,000 – 30.1%
  • $600,000 to $800,000 – 9.2%

Darwin’s top price brackets

  • $400,000 to $600,000 – 41.5%
  • $600,000 to $800,000 – 23.3%
  • $200,000 to $400,000 – 19.8%

Hobart’s top price brackets

  • $200,000 to $400,000 – 54.3%
  • $400,000 to $600,000 – 23.3%
  • $600,000 to $800,000 – 5.8%

Putting the capitals together, estate agent John McGrath noted that 9.2% of homes were sold between $1 million and $2 million compared to just 2.5% some 10 years ago. 

2% sold for $2 million-plus, which is the greatest proportion on record. 10 years ago it was 0.7%.

"If I told you there were more homes sold between $200,000-$400,000 in Sydney than $800,000-$1 million, would you believe me?," John McGrath blogged on Switzer.

"I thought this particular stat was interesting given how much we hear about Sydney being ‘unaffordable’ these days.

"It’s certainly fair to say Sydney is expensive, but by no means is it impossible – as this data clearly proves.

"Many buyers today can still afford a range of suburbs, but the closer they get to the city and lifestyle locations such as beachside areas, the more likely they are to have to compromise on property types.

"This is why RP Data has measured the most popular price brackets for houses, townhouses and apartments combined.

"These days a lot more buyers are comparing apartment and house prices when deciding where to buy.

"If the location is more important than having a house, plenty of buyers will settle for an apartment."

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John Mcgrath

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