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Average Value Increases For Capital Cities During July

If you're considering selling Carnegie real estate, now could be the perfect time to take advantage of the market, as the average prices for capital city dwellings increased during July.

RP Data and Rismark released their latest Home Value Index today (August 1), which shows that the average price in Melbourne increased by 2.3 per cent over the July – bringing the median house price to $492,000.

Nationwide, the capital city dwelling value increased by 1.6 per cent, with values 4.9 per cent higher than a year ago.

Tim Lawless, research director for RP Data, said that capital city dwellings were also selling faster than they were 12 months ago, with the average time being 45 days as opposed to 59.

"With the housing market once again showing solid capital gains and rents also rising, the issue of housing affordability is likely to begin attracting more attention," Mr Lawless said in the report.

For those considering selling their homes in Carnegie, now could be the perfect time to take the plunge and meet with a real estate agency.

Get in contact with Matthew Hurlston at Ray White Carnegie to begin the process of selling your home today.

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