House prices in Australia have recorded its best performance in 4 years, according to the Australian Property Monitors. National house prices now stand at $597,556, an increase of 3.7%. Over the course the past year, median house prices have increased by 9.8%. This has been the strongest result since 2009.
Sydney tops the list with a record $763,169 in median house prices. This price growth has reached unsustainable levels and is expected to taper off throughout the year. Other capital cities are expected to benefit from this, as reasonable growth is seen on all capital cities.
Read more about this on the Broker Online website.