Australia’s property market will continue to deliver strong returns for investors in 2008 and significantly outperform other asset classes, RP Data and Rismark said yesterday.
According to the RP Data/Rismark Hedonic Index, property in Australian capital cities grew by 13.08 per cent in 2007 – outperforming the ASX 200 which grew at 11.8 per cent.
Units recorded the strongest growth of 16.87 over the year, compared to a still robust house growth of 11.90 per cent.
“Units and townhouses are increasing in popularity due to their more affordable price points,” RP Data national research director Tim Lawless said.
“Many potential house buyers are blocked from the market due to affordability constraints. These buyers are looking towards higher density living in order to buy into the market,” he said.
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