Opportunity To Secure Investment Capital Gains As Sydney Property Values Increase
Anyone holding on to investment properties in Sydney with the hope of securing great capital gain returns could be interested to see the latest House Value report from the Australian Property Monitors (APM), which indicates the price of property in the city has grown exponentially.
During the September quarter, house prices in the New South Wales capital city increased by 4.2 per cent, following a growth of 3.7 per cent in the previous quarter. The median price of a house in the city has broken past $700,000, and now rests at $722,718.
Furthermore, the value of units and apartments in Sydney also grew during the September quarter, increasing by 3.3 per cent after rising 3.4 per cent during June. Median prices for units also broke a record, surpassing $500,000 to settle on $515,035 at the end of the September quarter.
This could highlight a great opportunity for those looking to secure large capital gains from their investment properties, with an annual house price increase of 11.7 per cent and a unit growth of 10.2 per cent.
The market is also extremely populated at the moment, with buyer and seller activity keeping the supply and demand high throughout the city. For example, the auction clearance rate for the latest weekend ranked at 84 per cent, with people taking advantage of the historically low cash rate and resulting interest rates.
These results are expected to continue for the rest of the year, returning to levels last seen in the market back in 2009/10, which could give potential sellers plenty of opportunities to seek professional advice about securing the best possible return on their investments possible.