As the year comes to a close, it is but proper that we tip our hats off to the best property performers of the year.
Australia’s capital city home values increased by 8.3% last month causing high growth rates in capital cities. Sydney is still ahead of the pack with a 13.7% growth rate, with Perth second at 8.6%. Melbourne rounds up the top 3 at 6.1%. All other capital cities recorded growth at less than 4.5%. Amidst low interest rates and high demand for property from onshore and foreign investors, here are some of the key takes of the Real Estate sector for 2013:
Highest Home Median Value stands at $6,312,475 for properties located at Point Piper, Sydney. The lowest is at Ungarie, Central West NSW, with a median value of $62,200. Rent has been strong in Johnston, Darwin, where it posted the highest gross rental yield at 14.7%. Sales has been high in Sydney, where it finished on top in gross value for sales at $805,977,253. The most expensive property for the year was sold for $52 million, located in Point Piper, just under the most expensive property sold in Perth for $57.5 million last 2009.
Overall, the real estate sector performance is impressive. Forecasts show that this is set to continue in 2014, as the sector continues to build momentum.
Read more about this on the News.com.au website.