‘The sky is the limit’: How the sky is falling for Sydney’s new homes

Sydney has lost about 4.5 million homes over the past decade, but its growth is still outpacing the rest of the country, according to the latest Sydney house price index.

Photo: Kate Geraghty “It’s an unprecedented situation in Australia,” Mr Wilson said.

“The sky’s the limit for the next 10 years.”

In the past 10 years, Sydney’s house price growth has been outpacing Sydney’s population growth, according the Sydney-based real estate agent.

Mr Wilson said the sky was falling for the city’s property market.

“This is really the most expensive housing market in Australia right now,” he said.

He added that the latest data showed a “substantial number of properties in Sydney’s north and south west” were being sold to overseas buyers, with prices rising by an average of 4.4 per cent a year over the last five years.

This is not the first time Sydney’s property price has hit record levels.

In 2009, the average Sydney house was selling for $3.3 million, according a report from Sydney property firm Urban Research.

However, the number of homes in the city peaked in 2010 at 5.8 million, before falling to 5.2 million last year.

That marked the highest number of sales in 20 years.

In 2010, the median house price in Sydney was $4.4 million.

Urban Research’s latest report showed that more than 4,000 properties in the Sydney market were listed for sale in October, up from just over 400 in June.

It is not yet known how many homes have been sold so far this year.

The city has had a record low number of houses sold since 2011, when 6.5 per cent of all dwellings were sold.