According to ANZ’s latest predictions, Australian property prices for the next few months will now be up by 17%.
While ANZ earlier predicted only a 9% raise, the sharp property price upsurge in November led it to contradict this statement.
Sydney and Perth have the most significant jump of 19% ahead of them, followed closely by Melbourne and Brisbane at 16% and 13% respectively.
The increase in profit from property sales in December further substantiate the recent forecasts. Of the 98,000 resales made, 89.9% were profitable, higher than the 87.9% figure in June.
Overall, resales in December rose to $31.9 billion from $24.8 billion in the past quarter.
Currently, the Australian property market is inclined undoubtedly towards sellers. But 22% of Australians are still planning to purchase a property in the next five years, making the demand strong.
Profitability in selling your property is high and will continue to be in the coming months. If you are planning to make a sale, to give your property the best pricing possible, we suggest:
- A renovation to make your property attractive to buyers
- Maintenance checks for the entire place
- A run through the moving house checklist to ensure a smooth moving out process
Are you looking to sell your property?
The Australian property prices are hard to keep track of for someone unfamiliar with the recent property market trends.
Our mortgage brokers are all very much involved in the property market and hence monitor it closely.
Give us a call on 1300 889 743 or fill in our free online assessment form today.