The news today is not favourable to new migrants (and also to first home buyers) wanting to buy their new homes here in Sydney. The Australian Bureau of Statistics reported that for the quarter alone, home prices rose 4.8 percent, easing from a revised 5.1 per cent recorded for the December quarter. Here in Sydney, prices rose 21 percent for the year and 5.3 per cent for the quarter! Sydney house prices are increasing and really accelerating.