Sydney property prices 'expected to rise'
Article by Mozo
The cost of buying a home in Sydney could become more expensive soon, according to the latest predictions into the market.
The most recent Sydney Property Monitors research found that house prices in the city increased during the April quarter and the consolidation of auction clearance rates are likely to see this increase further in May's figures.
Results showed a 1.1 per cent rise in the cost of Sydney homes, following on from a 0.6 per cent fall during the previous month.
The biggest increases were seen at the top end of the market, where houses in the top 25 per cent of the sector rose in value by five per cent.
At the bottom end of the market, there was no change noted in the prices of homes.
Consumers may soon find it easier to obtain a home loan to buy a property, according to recent comments from Damian Smith, chairman of price comparison site RateCity.