Fastest rebound in decades
The Sydney property market is on the move. Sydney’s has recorded its quickest turnaround in decades, with house prices rebounding almost $50,000 last quarter according to Domain’s House Price Report for the September quarter.
Houses prices regained almost one-third of the value lost during the two-year downturn, with the city’s median up 4.8 per cent to $1,079,491 according to Domain.
Sydney’s house price downturns and recovery
The rapid recovery — four times greater than the next strongest quarterly rebound of 1.2 per cent following the 1994 market low — has surprised most property commentators.
The recovery can be attributed to:
Lower interest rates;
The...
View article »