If you own property in Carlton, you're probably enjoying the continuing increases in the value of your investment. A variety of studies have shown that values have continued to rise across Sydney.
A study by SQM Research is testament to this house price growth. Their research found that Sydney's median asking price for free-standing houses had gone beyond $1million, recently reaching $1,005,800. RP Data have also shown increases for home values in Sydney. For the week ending 16 November, home values in Sydney increased 0.3 per cent. This placed the monthly increase to 1.1 per cent and year-to-date change up to 12.2 per cent. This totalled up to an annual change of 13.4 per cent, with both of Sydney's rises being the largest in the country.
SQM Research claimed that this home value increase might not have an immediate impact, but Managing Director Louis Christopher said changes would be on the way.He claimed it's currently "impossible to purchase a free-standing house in Sydney's inner ring for under a million dollars" and this trend will continue, especially within Sydney's middle ring.