The 7 must-know property investment numbers of the week, including the 12% gap between Sydney price guides and actual auction results
With the Sydney weekend auction clearance rate topping 80% for the sixth week in a row, according to Australian Property Monitors, there has been much discussion as to the state of the property market in Australlia.
Also making waves was veteran columnist Robert Gottliebsen's comments that Australia could experience "the mother of all dwelling booms."
Are we in a dwelling boom, a rally, bubble or a recovery? Catherine Cashmore got inside our bubble mentality.
She said that war stories are emerging from buying and selling agents of auctions attended where the prices have exceeded the reserve by 10-20%.
The gap between real estate agent price guides and actual auction results has jumped this year in Sydney, according to a survey by Intelligent Property Services.
There is now a 12% variation between auction price guides and actual results.
Cameron Kusher has taken a look at the home prices across the nation's capital cities and Sydney is currently, the highest median selling prices for homes at $570,000.
With property values climbing in Sydney and Perth, coupled with competition for stock intensifying in these cities and Melbourne, Kusher suggets buyers may start to look at more affordable alternatives and focus their attention on markets such as Brisbane and Adelaide.
Rebular observer Terry Ryder says that capital city prices are up a moderate 5% on average and Sydney's property bubble hysteria is unfounded.
John Edwards, chief executive of Residex, says a property bubble in Australia is unlikely.
Residex found that in the last quarter, house and land values have increased by 0.59% across Australia while units increased 1.89%.
With interest rates at a record low of 2.5%, Mark Bouris has five tips to get the most out of a low interest rate environment.
