Some of the leading cities across the globe have witnessed an upturn in residential housing markets so far this year.
Savills' World Cities Review report has highlighted Sydney as being among the best-performing cities for price growth for the first six months of 2012, with capital growth rising at 3.7 per cent for the period.
The only major cities ranked ahead of Sydney in the results were Moscow (5.4 per cent) and Hong Kong (7.4 per cent).
Meanwhile, Sydney also fared extremely positively for gross rental yield, coming in fourth position for Q1 this year. London, Moscow and New York were the only major cities to achieve better results.
Earlier this week, the Australian Financial Review reported auction clearance rates in Sydney stood above 60 per cent for the second week running last weekend, marking a new upturn for property completions and perhaps the beginning of a return in confidence for home buyers in Australia.
Posted by Steve Douglas
