The Real Estate Institute of Australia and BIS Shrapnel have reported that the median Sydney house price in Sydney rose by 101 per cent from June 1998 to June 2008. That's  a doubling of house prices in a decade.

According to Frank Death, CEO HomeWorld Display Village, this confirms the value of investing in the family home.

"The old saying "invest in bricks and mortar", is still sound advice and while the figures do not take into account the upkeep of the home, the absence of capital gains tax on increases in value makes the family home a great investment.

"With interest rates still at low levels, despite the recent increase, it is an ideal time to invest in the family home for the first time or to upgrade to a more suitable home," said Frank Death.

"In addition to the investment value of the family home there are the social advantages of owning your own home. It means you can plan your family’s future with the knowledge that you are not controlled by a landlord who can increase the rent according to market demand. With the current shortage of housing in Sydney, rental increases are more likely.

"There is also the feeling of security for you and your family that comes with home ownership. There is nothing like owning your home, debt free on retirement, which gives greater flexibility in later years.

"Good equity in the family home also provides the basis for investment in rental property where you can take advantage of negative gearing and rental returns to build your wealth. Whether it is for the family home or an investment a brand new home is the best option because you are starting off with everything brand new" Frank Death added.

HomeWorld display village is at Kellyville, up the Windsor Road, off Samantha Riley Drive.

For more information phone the HomeWorld InfoLine on (02) 9629 4822 or visit the website www.homeworld.com.au