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Old or new for property investment?
The belief that older properties in established suburbs outperform properties in newer suburbs for capital growth but not necessarily for yield, has been backed up by data from Australian Property Monitors. Their data shows that prices for three bedroom homes in inner suburbs, which are older, have risen by 92 per cent, middle suburbs by 73 percent, and outer suburbs, which are typically the newer ones, by 76 per cent.
House prices surge despite interest rate rise
Extract from article by STUART FAGG on ninemsn Money 31/03/10
The RP Data/Rismark Hedonic Home Value Index found that after a 2 percent price increase in January, prices rose by a further 1.4 percent in February.
In the 12 months to February, Australian capital city dwelling values rose by 12.7 percent, pushing the average Australian dwelling price up to $455,0000, RP Data said.
The average house has increased in value by $5,000 every month in the past year.
Property values up 1.8 percent in January: RP Data
Excerpts from Emma Thelwell, ninemsn Money
Figures released today by RP Data show that average property prices have jumped by nearly 12 percent over the last 12 months, defying fears of a housing bubble and exacerbating the housing affordability crisis.
Sydney continues to boast the most expensive property, with homes fetching a median price of $494,500 in January, up 1.7 percent in just one month, according to the RP Data-Rismark index.