Sydney property prices soar

Sydney continues to lead all capital cities in property price as it increased by 2.7% for the 3rd quarter of the year, according to the Australian Bureau of Statistics.

Property prices have also increased by 1% in Melbourne, Brisbane, Adelaide and Hobart. Overall, national house prices have increased by 1.5%. Sydney’s housing market recorded the strongest performance 12 months to September, recording a staggering 14.6% increase, followed by Melbourne and Brisbane, at 6.9% and 6.7% respectively.

The strong performance in the property market was attributed to high investor activity, with finance from investors increasing by 25.4% for 12 months to September. Meanwhile, owner – occupied finance comprised a measly 1.8% for the same period.

Read more about this on the Age website.

Author: Dorian Traill

Dorian Traill is the current Director of Grand Capital Finance Group and Fountain Property Group. He specialize in home loans for people as well as helping them build wealth through quality investment properties that ultimately lead to long term financial freedom.

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