A REAL estate agent's investigation into property market trends in the Horsham-Haven area has shown a surge in the median house price.
PRDnationwide Horsham principal Wes Davidson said there was a 10.3 per cent increase in the 12 months to October 2012.
The median house price rose to $235,500.
Mr Davidson said activity during the past three years had been fairly robust, while the median price had soared to new heights.
"It appears that the period of low interest rates in between 2011 to 2012 has assisted in making property more affordable, allowing for buyers to increase their purchasing power," he said. "Sellers have also realised an average capital growth return of 9.1 per cent a year in the past 10 years.
"These sellers have owned their properties for an average of 7.8 years.
"Another important point is that the final vacant land median price recorded for the February 2012 six-month period was $102,450. This equates to an increase of $31,100 in just three years."
Mr Davidson said the Horsham-Haven area property market had averaged 192 settled house sales per six-month period in the past decade.
"The most recent six-month period ending October 2012 has registered a total of 140 settled sales," he said.
"Although this amounts to a figure slightly less than the three-year average of 152 sales per six months, it is anticipated that there is a larger portion of sales that have yet to settle in the month of October."
Mr Davidson said in the past five years, the rental market had grown to 29.6 per cent of total residences in the Horsham-Haven area.
"Looking ahead into 2013, a sustained period of low interest rates should draw investor activity into the property market as loans become more affordable, transferring into more attractive yields," he said.
"Houses should continue to observe steady growth, while units will likely see a price correction.
"The Horsham-Haven area market is performing exceptionally well and has been free from the volatility experienced in most other parts of the nation."
Caroline Tan