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Surprising momentum in regional markets

Surprising momentum in regional markets

by Reporter 0 comments

By: Kate Miller

While national property market activity is beginning to slow, those suburbs that struggled the most back in April 2009 have had the greatest rise in transaction numbers over the April quarter, according to RP Data.

Regional markets gathered momentum in the April quarter this year, the data provider said yesterday, with South Australia leading the states in terms of quarterly sales volumes.

In the Northern and Robe council regions, sales volumes doubled over the year, "albeit from a very low base" Cameron Kusher, RP Data senior research analyst said.

Sales volumes within Victoria's Central Highlands Council also increased by a significant 50 per cent, also from a low base.

"The results show that the largest percentage improvements in sales volumes have been in the regional markets of Australia," Mr Kusher said.

"Focusing on the top five council regions within each state, 25 of the top 35 regions were located outside of the capital cities," he said.

According to Mr Kusher, another striking trend in property growth was that the vast majority of capital city regions that recorded an increase in sales also recorded higher than average median prices.

"In all but one instance, the capital city council areas which recorded the strongest change in sales volumes were within premium markets with median prices well above the respective metropolitan median price," Mr Kusher said.

 

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