building opportunity: property prices increase across Perth during 2013
Home values have increased across the nation, which could be great news for anyone considering selling their Perth property and committing to the construction of their very own double storey home designs.
Anyone considering new home building should take this opportunity to secure a great deal, with the latest RP Data-Rismark Home Value Index for December illustrating the nation's growth in property prices during the last 12 months.
According to the release, there was a 2.8 per cent increase in property values during the first quarter of the year, followed by a slight increase of 0.2 per cent during the second quarter. The third quarter of 2013 saw a huge jump of 3.7 per cent, followed by the fourth quarter's growth of 2.8 per cent.
Overall, home values grew by 9.8 per cent during 2013, which is a fantastic result to achieve over a 12 month period. RP Data Senior Research Analyst Cameron Kusher said this was the largest annual growth since 2009 - where values increased by 13.7 per cent during the year.
"Clearly value growth has gathered momentum throughout the second half of the year," said Mr Kusher in a January 2 media release.
However, it was Perth that underwent some of the largest periods of growth during the year. For example, the Western Australian capital underwent a 3.9 per cent increase in property value during the final quarter of the year, increasing by 9.9 per cent over the last 12 months.
This translates to a median dwelling price of $520,000. The annual growth for houses was 10.2 per cent, while units in the city underwent a slightly smaller increase of 6.3 per cent.
Now could be the perfect time to consider selling your home and committing to the dream of building your very own double storey house plans.