On average, property prices have risen 44% over the last 10 years. Collectively, capital city prices increased 52.6% and the combined regional markets rose 16.6%.
The Core Logic report also highlighted that houses performed better than apartments, with values increasing 46.9% nationwide. This is compared with the 34.2% growth for units.
The strongest property growth was recorded in Sydney’s southwest. Values in Preston, Cabramatta, Fairfield and Wattle Grove rose 112.9%. Growth exceeding 100% was also recorded in numerous Sydney and Melbourne suburbs as well as Bacchus Marsh, Werribee, Melton and Altona.
No decline in values were recorded in New South Wales, Victoria, Tasmania, the Northern Territory and the Australian Capital Territory over the past decade.
Despite what some sources have been advocating, the numbers show that we have seen steady and continuous property growth in the Australian market over the last decade.
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