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2013 a Huge Year for Sydney Property Owners

By Louise Morrin

Owners of real estate in Carlton may want to consider their options with both selling and property management, as figures from Australian Property Monitors (APM) show just how high demand in the Sydney region has been during 2013.

According to APM, the Sydney housing market saw record levels of buyer activity, particularly during the spring home auction season.

The median house price in the region increased 10 per cent throughout the year, reaching a record-high level of over $700,000. Meanwhile, unit prices also saw strong growth, with the median unit price now above $500,000 for the first time.

"Buyer activity and prices growth were particularly strong in the mid-priced sections of the market with the inner west, the south and the upper north shore regions recording annual prices growth over 15 per cent," APM stated.

"The budget market was also strong driven by a surge in investor activity again at record levels."

Home values are expected to rise another 5 to 7 per cent during 2014, with most of the increases occurring in the first half of the year.

For those looking to sell or rent out their properties, now appears to be the perfect time to enter the market.

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