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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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Australian property leads global recovery

By Staff Reporter
16 September 2009 | 1 minute read

Australia is leading the global recovery in residential property prices, according to research from Knight Frank.

The latest Global House Price Index shows house prices are beginning to stabilise across the globe, with an increase in value recorded for the second quarter of 2009 for almost half of all the locations that reported price changes.

Knight Frank’s head of residential research Liam Bailey said while quarterly price falls accelerated in 22 per cent of the locations, they did not exceed 10 per cent in any country.

“This compares with double-digit falls in a number of locations during the March quarter,” Mr Bailey said.

In Australia, prices fell 1.4 per cent over the financial year, but the turnaround from the March quarter to June was 4.2 per cent – the second highest rise in the world.

It seems the combined effects of constrained supply, low interest rates and soaring business confidence have worked in the Australian residential market’s favour.

“Overall, it seems that prices are starting to bottom out around the world. However, the market is still fragile and patchy.

“Further falls are always a possibility while credit flows remain constrained and the global economy struggles to recover from recession, but it does appear that the worst is behind us,” Mr Bailey said.

Australian property leads global recovery
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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.