Recent Australian Bureau of Statistics figures have found during the December quarter, residential property experienced a value increase of 1.9 per cent, which could be great news for anyone considering the sale of their Belconnen real estate.
When compared to the sale period 12 months earlier, home prices were a huge 6.8 per cent higher. Housing Industry Association senior economist Shane Garrett said dwelling price growth has reached comfortable level, with established home values rising by 7 per cent over the last year, and other dwelling types increasing by 6.8 per cent.
"In inflation-adjusted terms, the rate of home price growth is now around 5 per cent annually. This is exactly the kind of home price growth that prevails over the long term. Australian home price growth is now striking the right balance," said Mr Garrett in a 10 February statement.
"During 2014, new home commencements reached the highest level on record. This has been a vital factor in assisting housing affordability, as well as providing crucial support for demand in the domestic economy."
Now could be a great time to consider selling your Belconnen real estate, in order to make moves into your own real estate upgrade in the coming months.