The latest CoreLogic RP Data Hedonic Home Value Index for March has revealed the movement of property values in Sydney, which could offer owners of property in Carlton an incentive to consider selling their homes in the coming months.
Over the current growth phase – which began back in June 2012 – the combined capital city dwelling value has risen by 24.3 per cent, with a lot of this stemming from Sydney's real estate market.
In Sydney alone, property values rose by 3 per cent over March and ended the month with a median house price of $690,000 – recording a huge 5.8 per cent price increase over the first quarter of 2015. CoreLogic RP Data head of research Tim Lawless said that Sydney remains the standout capital city of Australia, experiencing an annual jump in dwelling values of 13.9 per cent.
"Over the current growth phase, Sydney dwelling values have increased by 38.8 per cent with Melbourne second strongest at 23.6 per cent. On the other hand, total dwelling value growth over the current cycle has been less than 10 per cent in Adelaide, Hobart and Canberra," said Mr Lawless in a 1 April statement.
These results could offer owners of real estate in the New South Wales capital the potential for significant returns on their initial property investment.