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Growing median property prices highlight market growth

By Ben Faulks

The latest Bankwest First Time Buyer Deposit report has offered some insight into the growing median values of property across the nation, which could be encouraging for anyone interested in selling their Belconnen real estate.

Nationally, the median price for property has risen by 7.1 per cent over the last year, recording a median price of $469,000 in 2014. This is up from the 2013 average of $438,000, which could be encouraging for investors or owner occupiers looking to secure a decent return on their real estate in the coming months. 

Bankwest Head of Specialist Banking Ian Rakhit said that much of this property value growth is to do with low interest rates spurred on by a reduced cash rate, which has boosted buyer activity and allowed for significant property growth throughout Australia. 

"The good news is there is still affordable housing available across the nation. Many first home buyers are starting to look further afield – for some, the more affordable housing offered by regional local government areas makes them a more attractive alternative compared to capital cities," said Mr Rakhit in a 19 December statement. 

Now could be a great time to get in touch with a local real estate agent to begin looking into the sales options available for your Belconnen property on the horizon. 

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