Buying in Sydney under the shared equity scheme | heagney_melissa
Domain chief of research and economics Dr Nicola Powell said while the scheme would allow buyers to get into the market, it would most likely push essential workers towards apartments rather than houses.
The price cap, or maximum value, of a co-purchased property is $950,000 in Sydney and in pricey regional suburbs on the Central Coast and North Coast, Illawarra, Lake Macquarie and Newcastle. In other parts of NSW, the cap is $600,000.Domain’s latest house price report shows buyers searching for suburbs with a median house price of $950,000 will have to go to postcodes such as Prospect, Minchinbury and Quakers Hill, all at least 30 kilometres from the CBD.
Apartments within the price cap can be found in Surry Hills or Rushcutters Bay, both less than five kilometres from the city centre, where the median sits at $950,000.
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