The latest Australian Bureau of Statistics (ABS) House Price Index has highlighted that house prices have been gathering momentum throughout 2013, which could be fantastic news for anyone looking to sell their Carnegie real estate.
The figures, released August 6, indicate that house prices in Melbourne have increased by 2.4 per cent over the June quarter.
Furthermore, over the past 12 months there has been an overall increase of 3.3 per cent for Melbourne house prices.
Diwa Hopkins, economist for the Housing Industry Association (HIA), said that these results are more encouraging than previously estimated, and could indicate a returning confidence in the housing market.
"These price developments signal increased activity in the housing market, with lower interest rates an obvious contributor. While still delicately poised, confidence has mainly tracked higher in financial year 2012/13. This compares with the previous year when pessimism was quite entrenched," said Ms Diwa.
New house prices have also increased nationwide, growing by one per cent over the June quarter and 3.9 per cent over the previous year.
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