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Lower end property market slowly disappearing

By Louise Morrin

The latest release RP Data CoreLogic Property Pulse has found a significant drop in the number of properties selling for less than $400,000, as values in the property market continue to increase alongside the strengthening economy. 

Now could be a great time to sell your property in Carlton, in order to capitalise on the strong returns occurring across the nation – especially in Sydney. RP Data analyst Cameron Kusher said homes selling for less than $400,000 now only make up 39.7 per cent of all sales nationwide, as opposed to 44.1 per cent last year. 

"Twenty years ago, more than 9 out of every 10 house sales across each capital city were below $400,000. Of course over that time wages have increased, interest rates have tended to be much lower and credit has become much more freely available," said Mr Kusher in a 27 November statement. 

In Sydney alone, only 12.1 per cent of properties sold over the last year were valued below $400,000. This is a small fraction of the market, offering some insight into the rapid growth of the New South Wales market. 

Get in touch with a local real estate agent to discuss the potential of putting your Carlton property on the market today. 

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