Property research company RP Data recently reported great news for Lower North Shore home owners: despite the fact dwelling values climbed 11.1% during 2009 the story was much different across different price points and markets, with more expensive properties generally seeing the strongest growth.
On a national basis, the top 20 percent of most expensive postcodes have recorded the strongest property value growth during 2009 increasing by 11.9% during the year. Interestingly, the recovery was initially led by the most affordable end of the market which recorded value growth of 3.9% during the 1st quarter of 2009 which cooled to 0.0% value growth during the 4th quarter
In Sydney, the top 20% of postcodes have recorded value growth of 12.5% with the middle market recording 11.8% growth and the lower end seeing growth of 9.1% during 2009. Taking a more historical view, the strongest growth in values has consistently been recorded across the top 20% of properties. During each year (except 2008) the most expensive suburbs have recorded the strongest value growth whilst the most affordable 20% have consistently underperformed more expensive property.
This means that for owners across the Lower North Shore, properties have actually experienced more growth than the generic Sydney statistics indicate. Give us a call to find out what this means for you today.
All the best,
Joshua Wygoda
Century 21 – Mosman – 02 9968 1700
Source: RP Data
No comments:
Post a Comment