Improved market conditions have started to filter through to increasing property across New South Wales – particularly in the major cities.
According to the REINSW property report, dwelling prices crept higher in Sydney and Newcastle.
Over the June quarter the median house price in Sydney increased y 3.02 per cent to $544,000. However, the median price was still 0.42 per cent down on what it was in June 2008.
Similarly, median house prices in Newcastle rose 1.27 per cent.
“There is definitely good news coming through with respect to property prices across Sydney and Newcastle,” REINSW president Steve Martin said.