Big boost for metro agents, less joy for country cousins

Capital city property prices have grown more than 50 per cent faster than regional prices over the past decade, new figures have revealed.

Melbourne experienced the greatest house price growth between 2005 and 2015, with the median price jumping 7.2 per cent per annum to $737,000, according to Onthehouse Data.

Country Victoria experienced the biggest growth of any non-metro region, with the median house price rising 4.6 per cent per annum to $366,000.

Meanwhile, Sydney’s median house price climbed 7.1 per cent to $1.07 million over the decade, while country NSW’s median house price climbed 3.7 per cent to $429,000.

Adelaide house prices increased 4.6 per cent to $443,000, while country South Australia house prices increased 3.2 per cent to $262,000.

Brisbane house prices rose 4.1 per cent to $501,000, while country Queensland house prices rose 3.2 per cent to $402,000.

Perth experienced a 3.2 per cent increase in its median house price, to $527,000, while country Western Australia experienced a 2.1 per cent increase, to $322,000.

Hobart houses grew by 3.0 per cent to $387,000, while country Tasmania house prices grew 2.4 per cent to $267,000.

Meanwhile, Sydney experienced the largest price growth for units over the decade to 2015, with the median price surging 6.3 per cent per annum to $689,000.

That was more than double the growth rate of regional NSW, where units increased by 2.7 per cent to $358,000.

Melbourne’s median unit price rose 5.5 per cent to $496,000, while country Victoria’s median unit price rose 3.7 per cent to $274,000.

Perth units grew 4.4 per cent to $447,000, while country WA units grew 2.5 per cent to $300,000.

South Australia posted similar figures, with Adelaide units up 4.3 per cent to $319,000 and regional units up 2.2 per cent to $226,000.

Brisbane’s median unit price climbed 3.8 per cent to $385,000, while country Queensland’s median unit price climbed 1.6 per cent to $335,000.

Hobart units increased 3.3 per cent to $278,000, while country Tasmania units increased 1.8 per cent to $200,000.

[Related: Agents laughing in some markets, crying in others]

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