Sydney’s property market has received some welcome news this week after the release of Domain’s September House Price Report, which indicates that house prices regained almost one-third of the value lost during the two-year downturn, with the city’s median up 4.8%, making it the fastest turnaround in decades.

The speedy rebound – which has posted results four times greater than the next strongest rebound after the 1994 market low, has defied all price forecasts and could be the result of the relaxation of lending standards, interest rate cuts, a post-election boost in buyer confidence and improved affordability according to Domain.

Sydney’s South West recorded particularly impressive growth over the quarter, jumping 3.4%, taking the median house price to $695,000.

NAB chief economist Alan Oster commented that he “expected house prices to increase 7.5 per cent next year”.

So, with confidence in the property market clearly returning and house and land prices expected to increase further over the coming year, it’s a good time to contact our friendly Menangle Park sales team to find out more about current house and land packages available.

Email us at sales@menanglepark.com.au or drop by the sales centre at Macarthur Square (opposite Coles).