Sydney:
The Sydney housing market has recorded one of its strongest ever winter performances. Weekend auction clearance rates over August were the highest for that month over the year, despite a significant rise in listings compared to the same period the year before.

Sydney’s median house price increased sharply by 3 percent over the July quarter, and is now up 7 percent over the year. Sydney median unit prices also rose strongly over the quarter – up by 2.5 percent, for a rise of 6 percent over the year.

Investor activity is particularly strong in Sydney, with latest ABS home loan data reporting that the proportion of investor finance approved is at an all-time high of 54.1 percent of total housing loans – excluding refinancing.

A solid performance by the local Sydney economy is a key factor in the strength of the housing market, with the unemployment rate steady at 5.1 percent over recent months.

Although the Sydney housing market continues to record strong prices growth and buyer activity, sector performances remain mixed, with the prestige market still relatively subdued.

The upper north shore, the lower north shore and Sydney’s south have produced particularly strong auction sales results over August.

 

Sydney Property Management | True Property

Source: http://ffx.adcentre.com.au