The price of property in Sydney has continued to increase faster than in any other across the nation in recent times, with the latest report showing that only one area of the city has seen any sort of drop in value over the past three years.
It was recently reported that the rate of growth has seen a small degree of slowing in the last month or so. However, this has still represented increasing prices, and according to the latest from Fitch, it has been a long-term reality. Since early 2012, it said, only one of the 14 regions in Sydney had experienced even a single quarter of house price decline.
Fitch also looked at comparisons in the current booming property market and those which have come in the last few years to compare their spread. And it found that price rises this time around, while faster in certain areas, are nowhere near as widespread, showing a real focus on the capital cities across the nation.
In the 2001 to 2003 property boom, Fitch said, there was a spread of property price rises across 95 per cent of the nation. This is far ahead of the current market's position, wherein just 60 per cent of the country has seen sustained price rises.