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Property on the Rise

The property market is well and truly past the bottom of the cycle, with solid and increasing buyer activity being seen across a majority of the capitals, according to a new report.

Rising confidence, solid economic performance and low interest rates are largely behind the recovery, Australian Property Monitors found in its Housing market report/Capital City Market Report July 2013.

The national housing market  has clearly recovered, the report notes, with the median house price across the capitals at $555,657 – the highest ever recorded, at an increase of $18,037 (3.4 per cent) over the year.

While there is patchy performance from some of the capitals – with Brisbane’s outer suburbs seeing subdued activity, and Hobart remaining 2.1 per cent down over the year – overall, the trend is on the up.