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A time to buy

If you understand how the Australian property cycles work, then Sydney may well be worth a look, as the time seems perfectly placed at the beginning of the next growth cycle.

The latest Australian Property Monitors house and unit price figures (September quarter) show that it’s increasingly a good time to buy in Sydney.

The figures released by APM show that Perth is becoming Australia’s most expensive city, with the median house price increasing by 39 per cent in the past year.

“Sydney house prices are now a bargain compared with other capital cities and they are becoming a bigger bargain by the day,” says Real Estate Institute of NSW President, Cristine Castle.

Inner-east statistics according to the Home Price Guide correct at 15/11/06

Median house price for the 6 months to October 2006 $920,000

Long term trend for houses 10.3%

Median unit price for the 6 months to October 2006 $465,000

Long term trend for units 7.3%

- market, sydney, prospect, opportunity, cycle

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