HOUSE prices across the southeast have hit the $2 million median mark, despite softening prices across the wider Sydney market.
According to CoreLogic, the median house price in the southeast jumped from $1.95 million in December 2017 to $2.035 million in January 2018.
REA chief economist Nerida Conisbee said demand for the southeast was a result of the strengthening economy, leading to stronger buyer confidence.
She said suburbs in the area frequently appeared at the top of search results on realestate.com.au.
“Clovelly is one of our top suburbs and averages well above 4000 online views per listing.”
House prices in Malabar have seen the largest growth over the past three months at 9.8 per cent, followed by Coogee at 7.7 per cent and Rosebery at 6.5 per cent.
Laing and Simmons’ Chris Skarlatos said buyers were attracted to the area because of the lifestyle.
“It’s close to the beach and we don’t see the bottleneck traffic that goes into the city like the inner west does.”
He said the southeast would continue to outperform other areas and singled out Rosebery as an in-demand suburb.
“I have seen more homes sold in Rosebery in one hit this year than I have over the past 14 years.”