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Knowledge is power when buying Carlton property

By Louise Morrin

Having all the relevant facts and figures to hand is important when you enter the Carlton property market. Not only can it help make sure you're paying a fair price for your home, but it also ensures you're getting the most for your money.

However, recent research from CommBank suggests there's a significant knowledge gap when it comes to property. Half the survey's respondents overestimated the median price in their capital city – or 57 per cent when it came to Sydney's residents.

Dan Huggins, executive general manager of home buying CommBank, explained that having the correct information is essential, not least because it will govern your entire property purchase.

"Discussing the local property market is a national pastime but these results show that, even for those actively looking to buy a property, perception can be different to reality," Mr Huggins commented.

"Home buyers need to do their research so they can enter the market with confidence."

A closer look at Carlton property

There are various different sources you can turn to when deciding whether to buy property in Carlton. The CoreLogic RP Data Hedonic Home Value Index is one of them, with January 2016 results showing Sydney's median dwelling price to have registered at $776,000 earlier this year.

However, it's important to be aware that property values are changing all the time. For example, this result is 10.5 per cent higher than 12 months previously, and up 0.5 per cent from December levels.

Having the latest facts and figures with you is essential – and it's something a reputable real estate agent in Carlton will be able to assist you with. Speak to the team at Ray White Carlton to ensure you're paying just the right amount for your next home in the region.

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