Sydney has been named as the second most unaffordable housing market in the world - according to the annual Demographia report - just behind Hong Kong.
A 5 bedroom home on a 550 square metre block sold in the western Sydney suburb of Rooty Hill - 42 kilometres west of the CBD - for $1 million a few weeks ago.
Nidus Group real estate agent, Ismail Ates, says it was a record price for the area.
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