Encouraging Results Recorded for Australian Real Estate in 2013

ByClaire Briggs

Now could be the perfect time to sell your property!

The property market in Australia has seen significant growth throughout 2013. Various media reports over the year documented high price rises in some areas, while others experienced large fluctuations in property values.

However, recently released information from RP Data has backed up some of these reports with statistics for the 12 months ending December 2013. As a result, this could indicate a great time for property owners to consider listing their homes for sale and take advantage of market conditions.

The RP Data-Rismark National Home Value Index shows house values increased by 2.8 over the final quarter of 2013. On an annual basis, values across the state capitals rose by a notable 9.9 per cent. Units saw similar growth, however it was slightly lower at 9 per cent.

Cameron Kusher, senior research analyst for RP Data, said this was the fastest annual rate of value growth for real estate recorded since August 2010. Interestingly, 2013 experienced the largest calendar year rise in values since 2009.

“Clearly, value growth has gathered momentum throughout the second half of the year,” said Mr Kusher in a January 2 statement.

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