Di Jones Real Estate's inaugural Annual Market Report reveals that strong auction clearance rates combined with low stock levels and easy access to finance fuelled property prices in the year to June 2017.

The new report was previously published monthly, and examined fewer areas. The new annual format looks at 132 suburbs across seven Sydney and the Southern Highlands regions, including the Inner West, the Lower North Shore, and the Northern Beaches. 

"Consumer research from our company database has shown that Di Jones customers want more comprehensive and quantifiable market information," said Ward.

“The strong observation of migration patterns of our customers has resulted in the inclusion of more suburbs and regions than the previous quarterly report," he said. 

The report, which has been compiled using CoreLogic data, shows Sydney’s median dwelling price rose 12.2 per cent over the 12 months to June 2017, and it was the fifth successive year in which dwelling values rose.

“However, the final quarter in this 12-month period saw only a slight increase in dwelling values, up by 0.8 per cent, compared with an increase of 5 per cent recorded in the March quarter," said Ward, saying the slowdown in price growth was the traditional winter easing, but also a sign that prices were beyond the reach of many.

Seller's "price expectations required some realignment to meet demand," said Ward, adding that softer auction clearance rates toward the end of the year confirm that homes had become too expensive for many. 

The best performing region was the Southern Highlands, where the median house prices rose a staggering 28 per cent increase in the 12 months to April 2017.

“Looking ahead, the market will remain steady and continued growth is expected over the medium term as buyer demand continues to outweigh the supply in most key markets,” Ward predicted. 

To read the Di Jones Annual Market Report click here.

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