House prices up
November 14, 2005
IN a move that could be an indicator for the rest of the country, Sydney house prices have made their first significant rebound in 18 months, according to data from property statistics firm Residex.
Sydney house prices lifted 2.24 per cent over the three months to the end of October, the data showed.
With the exception of a virtually flat result in April, this is the first time house prices have gone up since their sharp fall in April 2004 after three years of growth.
The recent rise has also slowed the annual decline to just 0.6 per cent.
Wizard Home Loans chairman Mark Bouris said this showed Sydney house prices were finally returning to more normal long-term growth.
"These figures show that we've reached the bottom and the market is turning," Mr Bouris said.
November 14, 2005
IN a move that could be an indicator for the rest of the country, Sydney house prices have made their first significant rebound in 18 months, according to data from property statistics firm Residex.
Sydney house prices lifted 2.24 per cent over the three months to the end of October, the data showed.
With the exception of a virtually flat result in April, this is the first time house prices have gone up since their sharp fall in April 2004 after three years of growth.
The recent rise has also slowed the annual decline to just 0.6 per cent.
Wizard Home Loans chairman Mark Bouris said this showed Sydney house prices were finally returning to more normal long-term growth.
"These figures show that we've reached the bottom and the market is turning," Mr Bouris said.