Australia Property News

Sydney homes lead the price growth table

Rising values of residential property in Sydney and of homes across the Melbourne real estate markets continues to push a two tier housing market throughout the Australian property market. Cumulative capital price growth gain across all major cities for the first six months of 2014 hit 5 per cent according to recent price indexes but the level of growth fluctuates quite extensively from location to location. During the twenty four months ending in June prices of residential property in June rose by nearly twenty-five per cent, in Darwin the price growth was recorded at just over 20 per cent and Melbourne real estate values improved by 18.5 per cent. Current market conditions remain buoyant across many sectors although affordability issues continue to play havoc with first time buyers hoping to move from the rental sector into a home of their own. Experts are looking ahead to the spring selling season where demand is expected to push price growth further but at a slower pace than in recent years.