Market Update
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What is really happening in the Sydney Property Market this Spring?
While all the capital cities have something to show in comparison to the regional areas which have been languishing for some time, Sydney’s growth has only been surpassed by Perth (in terms of hike in dwelling rates).
Median house price growth
Its Median house price has risen by 7.3% over the last year and Median unit price has spiked by 3.2%. There are ample reasons for the superb performance of Sydney, feels Yardney.
You can read the original article here.
In my opinion, it is worth noting that Sydney’s Median house price growth of 7.3% (quoted by Yardney) is more than twice the national average (a ballpark figure of 3.4%).
Both kinds of migrations help Sydney’s cause
Overseas and interstate migration is helping its cause, adding skilled workforce to its industrial sectors and enhancing number of property investors.
Auction clearance figures a true barometer of market buoyancy
The auction clearance rate is a little atypical but it does not seek any favours from prearranged boardroom sales or private treaties. Properties sold in Sydney auctions, with a few exceptions; fall in the “sold at auction” category.
There is little doubt then that Sydney should keep doing well in times to come.
Do you think Sydney property investors are shrewder than their counterparts?
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