Australian property prices rose 12.5 per cent over the twelve month period ending September 2007.
Adelaide property led the way with the median dwelling price climbing 20.1 per cent to $366,590. Brisbane followed closely with a price growth of 18.9 per cent; Melbourne also recorded a solid increase of 16.6 per cent.
RP Data research director Tim Lawless described Adelaide’s growth as the result of “above average rental yields and strong prospects for capital growth”.
Broader Sydney prices moved steadily at 7.2 per cent; Canberra experienced a 12.3 per cent rise in average costs.
Darwin recorded a 1.6 per cent rise whereas Perth experienced the nation’s only drop with minus .05 per cent.
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