Sydney property values increase during September quarter

The latest Australian Property Monitors (APM) House Value report has highlighted the growth of property prices in Sydney during the September quarter, which could be great news for anyone intending on selling their Inner West property sometime in the near future.

For example, there was a strong increase in the value of houses in the city, with a value increase of 4.2 per cent during the September quarter. This follows on from a great growth of 3.7 per cent in the previous quarter.

Furthermore, the prices for units and apartments in the New South Wales capital grew by 3.3 per cent in the September quarter, which could be fantastic news for those who own investment developments in the region. This also follows a previous increase of 3.4 per cent.

With all these escalations in value occurring, another benchmark was surpassed in Sydney following the announcement of these results. The median price for both houses and apartments have surpassed previous records.

The median price for houses in the city has surpassed $700,000, and now sits at a whopping $722,718; and the median price for units in Sydney has grown past $500,000, now resting at $515,035.

Overall, these growths bring the annual increases in value for Sydney property up to 11.7 per cent, while units have undergone an annual value increase of 10.2 per cent.

These strong markets are expected to remain till at least the end of 2013. With an expectation of continually high buyer and seller activity, coupled with the influence of a historically low cash and the subsequently competitive interest rates, now could be the perfect time to put your Sydney property on the market and secure a great return for you and your family.

Matt Cooper
Focused, enthusiastic and highly motivated, Matt Cooper belongs to the new generation of real estate professional. An intuitive, long term thinker with a fresh approach, as Director of Sales Matt is committed to creating a new breed of agency.

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