The Festive season has sprung upon us and if you are like me; you’re rushing around to do last minute shopping.
Whilst we are buzzing with all the celebrations; it is also a great time to reflect on the year. A chance to look back and assess any New Year resolutions that we made and/or property goals to be achieved.
Australian real estate in the past 12 months has had some amazing highs particularly in Sydney and Melbourne and we are still seeing values rise at a healthy rate.
National dwelling values are 8.5 percent higher compared with a year ago across the combined capitals.
The highlight of the year was when the annual rate of capital gain peaked at 11.5 percent over the twelve months ending in April 2014.
In general, the house price growth has been 2.64 percent better than last year and unit, or medium density increased by 2.37 per cent than achieved in the prior 12 months.
The consistently low rates have provided a boost to housing market conditions especially for property investors with at least 50% of loan approvals for investment.
In 2015, rates are one of the major factors to watch. Rates could significantly alter the forecasts if remain unchanged when compared to potential increases. Each scenario brings a different result.
Overall another solid year of housing market conditions and further capital gains are anticipated in 2015, albeit at a more sustainable rate that what has been seen in 2014.
Merry Christmas and Happy New Year!