Increasing Sydney property prices and buyer activity good for sellers

Now could be the perfect time to sell property in Sydney's Inner West real estate market, as the latest Australian Property Monitors (APM) House Price report highlights capital city prices reaching record highs following the June quarter.

The housing market in Australia has been increasing in value over the last three consecutive quarters, with a 2.8 per cent national increase over the June quarter.

In Sydney alone, house prices rose 2.7 per cent, while units also grew in value by 2.4 per cent - indicating that now could be a fantastic time for anyone who owns property in West Sydney to sell.

Furthermore, a record median house price of $690,064 has been recorded in the New South Wales capital. The median unit price also increased to $491,845.

Andrew Wilson, senior economist for the APM, said in a July 25 statement that these price increases were the result of an increasing market confidence combined with the lowest interest rates in decades.

"The patchiness that has characterised market activity over the past year is diminishing as expected with most capital city markets and market segments at or near record levels and rising," Mr Wilson said.

"The usually quieter winter market is set to be one of the hottest on record and unlike 2009 and 2010 buyer activity and prices growth will be generated by underlying local drivers and not by unprecedented government stimulus packages."

Buyer activity in the real estate market is expected to remain strong for the remainder of the year, which suggests now is the time to get in contact with a real estate agent and put your Lilyfield, Rozelle or Balmain property on the market.

Getting professional advice about your sale options can help to make the real estate selling experience as simple and streamlined as possible, providing you with peace of mind throughout the transaction.