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Australia’s property sector experiences growth

Staff Reporter 1 minute read

Many of Australia’s capital cities have experienced growth in both unit and house values throughout the last quarter, key statistics from RP Data has revealed.

According to RP Data, Melbourne has enjoyed a 4.13 per cent increase in the median house value and a 3.40 per cent increase in the median unit value over the last three months.

All states experienced positive growth with the exception of Perth, which recorded a 0.86 per cent drop in the median value for houses and a 0.59 per cent drop in the median unit value.

RP Data analyst Mark Moraza told Mortgage Business the statistics were good news for the industry.

“I think we will see a drop in the number of property sales when the FHOG expires, however, it is hard to predict exactly what will happen. It will all rely on consumer sentiment,” Mr Moraza said.

“While these numbers reflect positively on market activity, the top end of the market remains soft and will continue to remain so in the foreseeable future.”

Australia’s property sector experiences growth
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