Sydney House Prices Ranked top four

Sydney Ranked In the Top Four For Property Price Growth Worldwide

In the 12 months from September 2014 Sydney’s property prices soared by around 20 per cent and Sydney was ranked in the top four countries in world for property price growth. Ranking fourth out of 165 other global cities and only being out ranked by Auckland up 25%, Istanbul in second up 25% and China’s Shenzhen which was up a whopping 47.5 per cent according to Knight Frank’s Global Residential Cities Index.

Kate Everett-Allen of Knight Frank’s Global stated in the report that Shenzhen strong growth in 2015 was on the “back of the relaxation of policy restrictions which boosted market performance.

“Shenzhen is fast becoming one of China’s key technology hubs, its population of 10 million has an average age of 30.”

Five Australian capital cities made it in the top 100 Global price growth rankings cities with Sydney leading the way Melbourne saw a price growth of 9.9 per cent and ranked 24 worldwide. Canberra, Brisbane and Adelaide all made the top 100 ranked 77, 81, and 85 respectively.

The Australian property price data is based from the Australian Bureau of Statistics Residential Property Price Indexes from September 2014 to September 2015 and since then Sydney’s property prices have seen two quarter in a row of decline in the average house price and we will have to wait and see the performance over the next 6 months whether Sydney can keep an outstanding ranking when compared to other global cities.

The Dragon Group is made up of three divisions Labour Hire, Recruitment and Property & Development which are experts in residential construction and renovation throughout Sydney.

Dragon Labour Hire & Dragon Permanent Placement are specialist an  recruitment agency in supplying skilled and ticketed candidates to our clients in the Sydney construction and building market. If you have any questions regarding our services please don’t hesitate to contact us on 02 9939 2550.

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