The surprising list of suburbs where house prices are SURGING

Prices in million-dollar suburbs in Australia's most expensive city are still soaring even without the benefit of an interest rate cut.

Sydney's outer south-west is still seeing strong price growth, even as values plunge in wealthy postcodes by the beach and near the city. 

The fact buyers needs to earn more than $155,000 a year - or 55 per cent more than the average, full-time salary of $100,000 - to even get a home loan to buy a house in a more affordable suburb a long way from the ocean is clearly no deterrent. 

Average loan sizes in New South Wales are now at a record $811,000, as high overseas immigration adds to demand in Sydney's more affordable suburbs.

With a 20 per cent mortgage deposit, that would buy a $1.014million home with a backyard, with a higher-income borrower likely to...
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