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Real Estate Business Awards 2021

The REB Awards is the benchmark of success in the Australian real estate industry. It reflects not only the business astuteness of the country’s leading real estate operators and networks..

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top 10 agents

Alexander Phillips

Top 1

Year of Experience: 21

Support Staff: 3

Residential Property Listings Secured: 241

Total Value of Residential Properties Sold: $ 706,737,500

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1/10
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top suburbs

12 month growth
Manyana
70.61%
Tamarama
70.55%
Box Hill
64.95%
Goodwood
64.38%
Bawley Point
63.64%
Lennox Head
62.11%
Casuarina
62.08%
Queenstown
61.31%
Warana
60%
Cooroibah
59.43%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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Annual prices surge but quarterly results tell different story

By Staff Reporter
11 December 2014 | 1 minute read

Sydney and Melbourne have recorded strong annual price growth that has continued to leave the smaller capitals far behind.

A new report by the Real Estate Institute of Australia (REIA) and Bendigo Bank shows a strong correlation between growth and population during the 12 months to 30 September, 2014.

Australia’s two most populous cities recorded double-digit growth, the middle-tier capitals recorded moderate growth, while the smaller capitals struggled to keep pace with inflation.

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Sydney’s median house price reached $844,000 at the end of September, which represented annual growth of $121,300 or 16.8 per cent. Melbourne jumped by $59,000 or 10 per cent.

Perth grew 5.9 per cent to $535,000, Brisbane rose 5.3 per cent to $466,000 and Adelaide climbed 3.9 per cent to $413,000.

Canberra was up 2.9 per cent to $525,000, Hobart rose 2.3 per cent to $360,000 and Darwin grew 0.8 per cent to $610,000.

However, the quarterly results tell a different story. Sydney climbed 3.8 per cent and Melbourne remained flat, while prices in the other six capitals fell.

REIA chief executive Amanda Lynch said the results are timely given the increasing likelihood that the Reserve Bank of Australia will cut interest rates next year.

“The prospect of not only continuing low interest rates throughout 2015 but also the possibility of a cut should stimulate much activity in the housing market, with this report… showing the cooling market provides an ideal time for investors and first home buyers alike,” she said.

“With moderating prices in all capital cities except Sydney and Melbourne, first home buyers, in particular, should feel confident in being able to enter the market.”

Annual prices surge but quarterly results tell different story
pricessurge
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Listen to other installment of the Real Estate Business Podcast
top 10 agents

Alexander Phillips

Top 1

Year of Experience: 21

Support Staff: 3

Residential Property Listings Secured: 241

Total Value of Residential Properties Sold: $ 706,737,500

VIEW COMPLETE REPORT
1/10
Do you have an industry update?

top suburbs

12 month growth
Manyana
70.61%
Tamarama
70.55%
Box Hill
64.95%
Goodwood
64.38%
Bawley Point
63.64%
Lennox Head
62.11%
Casuarina
62.08%
Queenstown
61.31%
Warana
60%
Cooroibah
59.43%
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.