The cost to buy the typical Sydney property is at a fresh record of $1.75 million as interest rate cuts increase borrowing capacity and buyer activity helps propel pricing higher.

Sydney’s median house price rose 6.3 per cent, or $104,130, over the year to September, the latest Domain House Price Report, released on Thursday, showed.

That means prices have risen by $2000 a week over the past year.

The city’s median unit price jumped to $840,422, up 2.7 per cent or $21,716 over the year, also a record.

Domain chief of research and economics Dr Nicola Powell said “momentum has returned” to Sydney’s housing market amid three rate cuts from the Reserve Bank this year, which had improved buyer confidence.

“Changes in the cash rate or economic conditions tend to be amplified through Sydney’

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