Australia's capital cities experienced a 1.8 per cent increase in residential property prices between the March and June quarters, according to the Australian Bureau of Statistics (ABS).
For those with investment property, this is likely to be well received. It may also encourage individuals considering first-time property investment to turn their attention to capital cities, such as Sydney and Melbourne.
Alongside the 1.8 per cent quarterly lift in residential dwellings, the capital cities experienced a 10.1 per cent annual increase in such prices, which is ideal for those who are focused on achieving strong capital growth in their rental properties.
Sydney surged well ahead of the capital city average, with 3.1 per cent quarterly growth and 15.6 per cent year-on-year growth to June.
Melbourne's quarter-on-quarter growth was 1.3 per cent, with annual growth of 9.3 per cent. While Brisbane's annual growth was behind the weighted capital average, coming in at 6.8 per cent, its quarterly growth was on par with the 1.8 per cent average, suggesting this real estate market is picking up favourably.
"The total value of residential dwellings in Australia was $5,196,355.9 million at the end of June quarter 2014, rising $112,598.5 million over the quarter," the ABS explained.
Elaborating on dwelling prices, the ABS noted that the mean residential dwelling price increased by $9,900 during 2014's second quarter.
Business customers have indicated 66.7 per cent satisfaction with Australia's Big Four, according to new findings from Roy Morgan Research, released on August 14.
From big to small lenders, there are plenty of competitive loan options on the market. With principal-and-interest as well as interest-only loan to choose from, owners of rental properties have a wealth of choices open to them.
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