Sydney growth accelerates
Unsurprisingly given low borrowing rates which are heading lower, Sydney's housing market is set for another bumper year in 2015.
The latest Domain Group figures revealed that Sydney house prices accelerated in Q4 2014, recording 4.1 percent growth to be 14.1 percent higher over the year.
This was the strongest quarter of 2014 according to Dr. Andrew Wilson of the Domain Group.
From Domain News:
"As this comes on the back of more than 15 per cent a year earlier, Domain Group senior economist Dr Andrew Wilson said the figures confirmed the Sydney property market is in "hyperdrive while the rest of the country is in second gear".
Dr Wilson said most of the growth was in the December quarter.
"The Sydney boom is back...the median house price increased 4.1 per cent – that's the strongest increase of any of the quarters of the year."