Navigating a seller's market
The quicker-than-expected recovery in Australia's property market caught many people by surprise, prompting even some of the most prominent 'bears' to concede that they have overestimated the magnitude and duration of the downturn.
Fastest Growing Rentals
tenants, this intense competition led to significant growth in rental returns over 2008 and provided a healthy backbone for many property investments.
Green shoots or false hopes?
According to the RP Data-Rismark Hedonic Australian Home Value Index, Australian dwelling prices climbed by 3.9% - translating to a 9.4% annual growth rate. Melbourne led the charge, racking up an impressive 6.1% in capital growth, bringing the median value to $443,811 since the beginning of the year. Darwin continued to outperform the rest of Australian cities with a remarkable 14.3% growth over the past 12 months."The property market's performance has been pretty outstanding, particularly in Melbourne, which is the best performing capital city this year," said Tim Lawless, national research director, RP Data. "The 6.1% growth figure for Melbourne was really strong."
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