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RP Data: Capital City Home Values Increase During 2013

By Ben Faulks

Now could be the perfect time to sell your Belconnen real estate, as the latest Home Value Index from RP Data-Rismark has highlighted a nationwide growth in the value of capital city property.

This could translate into a fantastic opportunity, especially if you have property-related goals for 2014.

Overall, property values for the nation's capital cities increased by 9.8 per cent during the course of the year, with the largest degree of growth occurring in the third quarter where price values skyrocketed by 3.7 per cent.

Furthermore, there was a 2.8 per cent increase in nationwide capital city values during the first and fourth quarters of 2013, with the second quarter recording a stunted rise of only 0.2 per cent.

Regardless, this end of year result is the largest increase in property values since 2009, when home values were up by 13.7 per cent over the year.

More specifically, Canberra underwent a year-on-year value increase of 3.5 per cent, while the median dwelling price ended the year at $530,000.

This could be a great chance for those intending on selling their property to take advantage of the strong market and secure a great result.

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