Property values finish 2013 on a high note

If your New Year's Resolution is to sell your current home and find another property for you and your family to live in, the latest release from RP Data could provide you with some encouraging results.

The last 12 months have been succinctly reviewed in the latest Home Value Index, released by RP Data and Rismark. According to the release, there was a 9.8 per cent annual increase in property values across Australia, which is a positive result.

Nationwide, there was fantastic growth for home values. During the first quarter of 2013, the country underwent an overall increase of 2.8 per cent. Following this, the second and third quarters also recorded rises, increasing by 0.2 per cent and 3.7 per cent respectively.

Finally, the fourth quarter saw another increase of 2.8 per cent, rounding out the year and highlighting the strength of the property market over the last 12 months.

In fact, RP Data's Senior Research Analyst Cameron Kusher highlighted that 2013 recorded the largest annual growth since 2009, when house values increased by 13.7 per cent.

"Clearly value growth has gathered momentum throughout the second half of the year," said Mr Kusher in a January 2 media release, highlighting the great value growth of 2013's third and fourth quarters.

Sydney's market came out on top, with a yearly increase of 14.5 per cent in dwelling values - recording a median house price of $655,250 for the year. House values grew by 15.2 per cent, while units saw values increase by 11.6 per cent.

Results from the last year indicate now could be the best time to get in contact with the team at Coopers Agency and discuss the options available for selling your home and finding you and your family a new property for 2014.