The latest release from the Australian Bureau of Statistics has found the rising value of property across the nation's capital cities, which could present a wonderful opportunity for those interested in selling their Carnegie real estate to secure a fantastic return on their property in the near future.
According to the newest Residential Property Price Index (RPPI), the average value of property across Australia's capital cities increased by 1.8 per cent over the June 2014 quarter, and 10.1 per cent over the last 12 months.
More specifically, Melbourne saw property prices rise by an average of 1.3 per cent, which could be great news for potential sellers across the Victorian capital. RPPI Director Robin Ashburn said attached dwelling values – like apartments and units – increased by 1.9 per cent, while detached, established homes saw values rise by 1.7 per cent.
"The increase in prices has contributed to the increase in the total value of residential dwellings to $5.2 trillion in the June quarter 2014, an increase of almost half a trillion dollars since June 2013. The mean price of dwellings in Australia is now $554,800, an increase of $45,000 over the year, this is more than twice the increase over the year to June 2013," said Ms Ashburn in a 12 August statement.
If you're interested in selling your home, get in touch with Matt Hurlston at Ray White Carnegie to discuss your options with a real estate expert today.