New figures released by RP Data have highlighted the rising strength of Australia's property markets, with capital cities rounding out 2014 with a median value increase of 7.9 per cent. This could be great news for those interested in selling their real estate in Brunswick, with Melbourne experiencing a specific annual increase of 7.6 per cent.
Detailed in the latest CoreLogic RP Data 2014 Hedonic Home Value Index, the median price for housing in the Victorian capital city rounded out last year at $587,000. This is significantly higher than the combined state median of $575,000, offering vendors the chance to cash in on their original investment.
RP Data Senior Research Analyst Cameron Kusher said that it was likely Australia passed its growth peak last year, with a general slowing down of values anticipated over 2015 – even when coupled with the low interest rate environment.
"The slowing annual growth rate is further evidence that the housing market is losing some steam with combined capital city home values increasing by 9.8 per cent over the 2013 calendar year compared to a more moderate 7.9 per cent increase in 2014," said Mr Kusher in a 2 January statement.
Now could be a great time to consider taking control of your real estate future and moving into the Melbourne market.