Is now a good time to buy a house?
Sydney home values have increased almost 14 per cent in the last 12 months according to CoreLogic RP Data.
RP Data’s Craig MacKenzie said the current rate of increased value is unsustainable but the Sydney market is catching up for a period of relative inactivity between March 2003 and March 2009.
In Melbourne, property prices have grown at 6.3 per cent per year over the last ten years, above the 4.8 per cent of Sydney. Perth prices have grown 6.0 per cent per year over the last ten years and Darwin prices have shot up 7.5 per cent.
Source: Banking Day