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Sydney Q4: Impressive 6% Increase for House Prices

By Louise Morrin

Homeowners and investors of property in St George and the wider Sydney region are seeing impressive price rises, which are unparalleled over the rest of Australia. 

Real estate in Carlton and its surrounding areas is a popular choice for those wishing to secure a slice of property in the NSW capital and the latest findings of the Australian Property Monitors only serve to confirm that. 

In the final quarter of 2013, Sydney stratified median house prices increased by 6 per cent, from $719,769 in the third quarter to $763,169.

The next highest percentage increase was just 3.2 per cent in Melbourne, highlighting that Sydney is miles ahead when it comes to capital growth. 

The city's year-on-year increase in house prices was 15.1 per cent. 

Unit growth was slightly behind these figures but still ahead of the national average as well as being the highest for all capital cities. 

Sydney unit prices increased 4.3 per cent, from $519,850 during the third quarter to $541,992 during the fourth quarter. 

This was ahead of Perth (3.7 per cent) and Melbourne (3.1 per cent).

The national average was 3.1 per cent and some cities saw a decrease in unit prices, namely Brisbane (-1.5 per cent), Canberra (-0.7 per cent) and Hobart (-0.4 per cent).

In the year to December 2013, Sydney felt a 10.9 per cent increase on unit prices, which is a fantastic result for investors and homeowners alike.

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