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Sydney property market on the rise again with October increase

By Louise Morrin

It's still a good time to own property in Carlton,  as the RP Data CoreLogic Home Value Index has shown further increases in home values in Sydney. Overall, dwelling values increased by 1 per cent over the month of October in the capital cities, a 2.2 per cent quarterly increase.

Sydney is leading the pack again, with dwelling values jumping 1.3 per cent for October. This contributed to a 3.9 per cent quarterly rise and putting the year-on-year number up to 13.1 per cent. Sydney also tops the list of most expensive cities; the median dwelling price has reached $680,000, according to RP Data. 

RP Data Chief Economist Tim Lawless claimed that "[l]ooking at the increase in home values to October, it is clear that the rate of capital growth is continuing to moderate. Despite the annual rate of value growth slowing, all capital cities have still recorded an increase in home values over the past year.'

He said that even with "the fact that annual increase in home values is slowing, other indicators remain strong", suggesting the market is not in danger of a sudden decline.

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