SYDNEY house prices rose over the April quarter and as auction clearance rates have recently consolidated, homeowners can expect house prices to rise over the May quarter. The latest Australian Property Monitors research has revealed that Sydney house prices rose 1.1 per cent over the April quarter. This followed a fall in house prices of 0.6 per cent over the March quarter. The biggest contributor to the April rise in house prices came from the top 25 per cent of the market, which increased by 5 per cent. The upper-middle price sectors rose by 1.7 per cent while the bottom 50 per cent of the market recorded no rise in median house prices over the April quarter. Quantity Surveyors specialising ATO depreciation schedules Aust Wide SYDNEY house prices rose over the April quarter and as auction clearance rates have recently consolidated, homeowners can expect house prices to rise over the May quarter. The latest Australian Property Monitors research has revealed that Sydney house prices rose 1.1 per cent over the April quarter. This followed a fall in house prices of 0.6 per cent over the March quarter. The biggest contributor to the April rise in house prices came from the top 25 per cent of the market, which increased by 5 per cent. The upper-middle price sectors rose by 1.7 per cent while the bottom 50 per cent of the market recorded no rise in median house prices over the April quarter. Advertisement: Story continues below Sydney median house price growth will continue to be driven by the influence of the underlying housing market fundamentals. Rising incomes as a consequence of low unemployment and emerging shortages of skilled labour will provide buyers with increased incentive, capacity and confidence in the housing market. The Bureau of Statistics reports that Sydney's April unemployment rate was 5 per cent compared to 5.7 per cent a year ago; 42,280 jobs have been created over the past year in Sydney and NSW annual private sector incomes have increased by 4 per cent. Increased demand for labour will be driven by the unprecedented resources boom driving the through an estimated $380 billion investment in mining over the next five years. The benefits of this strong economic growth will ripple throughout Australia, especially Sydney, as it re-energises as the commercial centre of Australia. Growing population and increased immigration to meet skill shortages will continue to fuel demand for housing in a city already constrained by a tight rental market and chronically low levels of new home building.