Sydney's median house price hits $600000 for the first time - The Daily Telegraph

WITH Sydney's median house price hitting the magical $600,000 for the first time, there's no greater indicator of a real-estate comeback.

RP Data statistics show for the year to December 2012, the median sale price for Sydney houses was at its highest mark and units were sitting at $480,000.

Although alternative data agencies have previously reported Sydney's median for houses as more than $600,000, RP Data uses the geographically larger ABS Sydney Statistical Division, which captures parts of the Central Coast and the Blue Mountains, where local median house prices are closer to the $350,000 price point.

While the middle market is climbing, the long suffering prestige sector, where homes are priced more than $3 million, is also on an upward trajectory. This month a six-bedroom house at 21 Wentworth Rd, Vaucluse, sold for $12 million and a Bellevue Hill mansion went for $7.7 million. Industry insiders say these are clear signs the high-priced suburbs are bouncing back from three years on struggle street.