It might be a stretch to say that the inner west of Sydney is the new prestige environment for property owners - the eastern suburbs will always be the most favoured as they are closer to the beaches - but as I've suggested on this blog since I first started it, the inner west has been the hot sector for some time.
These things move in cycles, though, and the east's time will come again. The lower north shore is also a popular choice these days.
The popular press and the laggards are finally latching on to the fact that the property markets are on the up, which has been reflected in the figures reported by RP Data since the start of the cycle: Sydney +8.5% to a new peak, Perth +9.0% and even Melbourne once again +6.5%.
However, the gains have been muted in Brisbane and Adelaide given the low interest rate environment.
It's probably time to start looking ahead to when this property cycle will stall and reverse.
With all major capital city markets other than Sydney remaining below their peaks and Sydney perhaps showing the strongest fundamentals, it could be a case of the Sydney market running away as the rest plateau.
Perth has surprised us before so it will be interesting to see if it can keep up its outstanding run.
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