Sydney auction clearance highest for 4 years, on increasing prices

Independent property analysts, CPM Research, have recently advised that the Sydney residential auction results are returning to levels last reached during the boom of the early 2000’s in terms of both:

· clearance rates, and

· volumes

August	% Cleared	Volume
2000	63%	$267m
2001	78%	$483m
2002	71%	$794m
2003	73%	$884m
2004	54%	$270m
2005	55%	$342m
2006	56%	$409m
2007	74%	$638m

They also note that median prices home prices are now increasing in Sydney.  Over the year to August 2007, the price rises have been:

· for freestanding houses, up 5% to $753k, and

· for units, up 7% to $540k.

Compass Capital Property Group has predicted this recovery since early this year.

Should you wish to consider acquiring residential investment property before the market accelerates, please contact us to discuss some very attractive opportunities in most price brackets, including off‑the‑plan.  Gross yields are usually 4-5% and in some cases have rental guarantees for two years or more.