Four out of five property experts say Sydney house prices are on the way up again, according to a 7News survey.
While the market has calmed recently, showing minimal growth, real estate aficionados say the time to buy is now - as it's only going to become more expensive.
"We'd say that Sydney house prices would move in a range of five per cent per annum over the next five years." says Andrew Wilson of Australian Property Monitors.
Prospective house buyers waiting for a bargain may be disappointed by what John Edwards of Residex predicts, "We'll see growth of up to seven per cent a year – the correction has already occurred."
Luis Christopher from SQM Research, "The Sydney housing market is likely to do maybe three to four per cent per year. The first two years though are going to be quite flat, as mentioned, the big X factor is what the Reserve Bank does with interest rates."
"We won't see these big spikes where we get 10, 15, 20 per cent growth in one year. It will be slow and steady and match what's happening with inflation." says Cameron Kusher, a senior research analyst from RP Data.
Not everyone is as optimistic, Dr Steve Keene wonders where people will find the money to buy houses priced that high, "I've got an overwhelming demand for Lamborghinis, but I can't afford to buy them. You've got to borrow money to buy a house." he says.
The prediction consensus from the 7News survey suggests that many houses in Sydney suburbs will rise above the $1 million mark in the coming years.
Future housing price figure predictions from Residex:
Eastern Suburbs2016: $2,137,000
Inner City2016: $1,220,000
Inner West2016: $1,306,000
Lower North2016: $1,890,000
Upper North2016: $1,157,000
Nthn Beaches2016: $1,527,000
North West2016: $1,055,000
West2016: $900,000
Parramatta/Hills2016: $776,000
Liverpool/Fairfield2016: $640,000
Canterbury B'town2016: $700,000
St George2016: $967,000
Sutherland2016: $968,000
Central Coast2016: $510,000
Newcastle2016: $432,000
Hunter Valley2016: $333,000
New England:2016: $229,000
North Coast2016: $403,000
Wollongong2016: $581,000
South Coast2016: $490,000
Campbelltown2016: $445,000
Penrith Windsor2016: $488,000
Blue Mountains2016: $572,000
Dubbo and North West2016: $155,000
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