Analysts at property consultants CoreLogic RP Data have selected the Best of the Best across property market for 2014, summarising the top performing suburbs in Australia.
The housing market has seen home values rises throughout 2014.
However, the capital gains have been narrowly-based with growth greater in Sydney and Melbourne than in the remaining capital cities.
Here’s the top ten performing suburbs for house sales nationally:
And the top suburbs for unit sales:
Since the market began its current growth phase in June 2012, home values have increased significantly in Sydney (31.2%), with growth more moderate in Melbourne (17.6%), Darwin (17.5%) and Perth (15.5%) and much slower elsewhere.
Combined capital city home values have increased by 8.5% over the 12 months to November 2014 and by 7.0% over the first 11 months of 2014.
The annual rate of home value growth peaked in April 2014 at 11.5% across the combined capitals, slowing to 8.5% in November.
This trend has been reflected across all capital cities except for Hobart.
CoreLogic RP Data expects the rate of value growth across the combined capital cities will continue to moderate.
“Despite low interest rates, which may potentially go lower next year after 2.5 years of growth, the market seems to be running out of steam,” CoreLogic RP Data says.
“We still expect values to grow in 2015 albeit at a slower pace than what we have seen through 2013 and 2014.”
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