Sydney houses under $1m to vanish in 2030s as $2m prices become norm

Sydney’s housing market has been in a slump for months but is expected to bottom out in mid-2027. Picture: Jane DempsterSydney houses priced under $1m have been placed on the endangered species list, with new figures showing these deals will likely be phased out of the market almost entirely by the 2030s.This will coincide with house prices well above $2m becoming the norm across the bulk of Sydney, including in major Western Sydney hubs such as Liverpool and Fairfield, new modelling has revealed.The realestate.com.au figures projected what houses and units would cost in every suburb by 2031 and 2036, with the current market downturn would likely end by the second half of 2027.Prices were projected to grow by more than $500,000 over the next five years in 141 Sydney suburbs if they continued on the current trajectory of growth from the last 20 years.MORE: Bad news for Aussies who earn under $250kSluggish home construction has meant an ongoing shortage of housing that will eventually put pressure on prices to rise again.MORE: China targets Aus homes in $5bn moveSydney suburbs with the most affordable houses were revealed to have the most upside price growth potential once the curren...