Sydney Home Price Soars: $430,000 in 1992, $5 Million Today!

Annandale Property Sells for Nearly $5 Million, Reflecting Three Decades of Growth A four-bedroom home in Annandale, Sydney, recently sold for $4.98 million at auction, highlighting the dramatic increase in property values over the past three decades. The auction, attended by 100 people, lasted 30 minutes, according to Angelique Opie, NSW Property Editor for 7NEWS. "It's a remarkable example of Sydney's property market growth," Opie stated. In 1992, the same property was valued at just $430,000, representing a more than tenfold increase in value. The sale underscores the significant appreciation in Sydney's real estate market, particularly in desirable inner-city suburbs like Annandale. The high attendance at the auction reflects the strong demand for properties in this area. This significant price jump over such a short period is a key indicator of the ongoing trends in the Australian housing market. The sale provides a fascinating glimpse into the evolution of property values in one of Sydney's most sought-after neighborhoods.