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top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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Residential market achieves solid gains

By Staff Reporter
31 August 2009 | 1 minute read

Home values across Australia have risen by an average of 5.9 per cent in the first seven months of the year, RP Data’s Home Value Index has found.

According to the Index, Australian home values rose by 0.9 per cent in July on the back of low mortgage rates and only small rises in unemployment.

“Australia’s residential property market has outperformed the other major western markets and provided superior returns compared to shares, commercial property, superannuation, hedge funds and private equities,” RP Data national research director Tim Lawless said.

Melbourne and Sydney led the charge in rising house values, with increases of 8.5 per cent and 6.6 per cent respectively.

Darwin was the strongest of all capital cities with home values increasing by 10.8 per cent.

According to Lawless, house prices continued to outperform units in the month of July.

In the three months to end July, house values increased by 2.4 per cent while unit values rose by 1.6 per cent.

 

Residential market achieves solid gains
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Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.