Homebuyers locked out of Sydney market by booming prices seek investment properties elsewhere

Sydneysiders were increasingly buying investment properties in other markets as local prices reached a record, realestate.com.au reported, with Sydney values averaging about $360,000 more than Brisbane and over $400,000 above Adelaide and Perth. Buyer’s agent Ben Plohl said $900,000 could secure two houses in a cheaper capital or major regional centre. A similar shift followed the 2017 peak, when Hobart became the fastest growing market.