The Real Estate Standouts of 2013

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.

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