news

Sydney property prices continue to grow

By webmaster

Sydney's housing market continues to perform well despite low consumer confidence.

The latest research from RP Data found Sydney property prices grew 0.7 per cent over the December quarter, while the rest of the capital cities recorded declines in price.

Over the December quarter, Australia's capital city home values declined by 0.5 per cent

On a positive note, RP Data's director of research Tim Lawless said the December quarter was the year's smallest quarterly decline.

"According to our index, capital city home values fell by 1.5 per cent in the March quarter, and by a further 0.8 per cent in each of the June and September quarters. This rate of decline had decelerated to 0.5 per cent by the final quarter of 2011," he said.

On the outlook for the year ahead, Rismark's managing director Ben Skilbeck said he expects the RBA's interest rate cuts in the final two months of 2011 to lend further momentum to housing activity as transaction volumes pick up over February and March.

"If financial market pricing for substantial additional RBA rate cuts proves accurate, we could see a stronger-than-expected bounce-back in housing conditions," he said.

"Housing affordability in Australia has experienced a striking improvement in recent times. While disposable household incomes on a per household basis rose by five per cent over the year to September 2011, Australian dwelling values have declined by 3.4 per cent since September 2010. As a result of the RBA's rate cuts borrowers can now get fixed- and variable-rate home loans as low as 5.9 per cent and 6.14 per cent."

Sydney property prices continue to grow
SPI logo
Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.
Opps.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Location
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
BLUE BAY 49.18%
2.
PAMBULA 43.5%
3.
BERKELEY VALE 42.74%
4.
POINT PIPER 40.52%
5.
NORTH TURRAMURRA 38.12%