The substantial growth in the inner city is mainly due to the growing population and increasing rents.
The inner- west area of Concord and around Homebush West are under pressure from an over supply issue in apartments.
The new generic properties that are produced in large complexes are struggling at the moment, however in contrast if a property has an element of exclusivity to it, great views or in a prime location then it generally performs better.
With no fall in sales or rental prices suburbs such as Pyrmont continue to outperform the greater Sydney market. Apartment prices have risen 4.2 per cent in the past 12 months largely due to a lack of stock being listed.
Prosper Group is Sydney's and Brisbane's leading property buyers agent ,specialising in sourcing residential and commercial property.
Sydney’s apartment market is at the top of many buyers’ list this spring; this is due to the lack of new stock, increase in the population and property prices being at a five year low.
The Real Estate Institute of Australia has noted that Melbourne and Perth units were more expensive than Sydney’s median unit price of $368,000.
Prices in various suburbs are lower than the September 2003 values after a prolonged decline, then stabilisation since the east-coast property boom.
There has been almost 10 per cent growth for inner-ring suburbs during 2007 however the outer-ring areas decreased in value by close to 13 per cent over the past two years.
The substantial growth in the inner city is mainly due to the growing population and increasing rents.
The inner- west area of Concord and around Homebush West are under pressure from an over supply issue in apartments.
The new generic properties that are produced in large complexes are struggling at the moment, however in contrast if a property has an element of exclusivity to it, great views or in a prime location then it generally performs better.
With no fall in sales or rental prices suburbs such as Pyrmont continue to outperform the greater Sydney market. Apartment prices have risen 4.2 per cent in the past 12 months largely due to a lack of stock being listed.
For those who are unable to buy into the inner city, infrastructure and being close to a transport hub is the key to perform best in the short to medium term.
Prosper Group are the property buyers agents of choice for busy professionals.
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