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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%
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Melbourne and Sydney markets have peaked

By Staff Reporter
03 December 2013 | 1 minute read

Staff Reporter

Growth in the Sydney and Melbourne property markets may have peaked, according to RP Data senior research analyst Cameron Kusher.

An RP Data report showed Sydney and Melbourne recorded strong annual growth rates of 12.5 per cent and 6.6 per cent respectively.

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Yet in the month of November, Sydney’s growth slowed to 0.9 per cent and Melbourne values dropped by 2.1 per cent.

Mr Kusher said that while further growth is likely for this cycle, it may be the case that the peak rate of value growth in both cities has now passed.

Overall, although dwelling values rose across Australian capital cities in November, results were lower than previous months.

A report by RP Data-Rismark showed the combined capital cities growth rate came to 0.1 per cent in November.

This is a significant slowdown from the 1.6 per cent growth rate recorded in September and the 1.3 per cent in October.

Mr Kusher said the slowing rate of capital city home value growth indicates a potential moderation in overall growth.

Nonetheless, all cities except Hobart have risen in the past 12 months.

Perth was the standout performer, with a growth rate of 8.9 per cent, while Brisbane and Adelaide had more moderate results, between 2.5 and 3 per cent.

Melbourne and Sydney markets have peaked
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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.