NEWS
Double-digit property growth
Based on the Rismark National Home Value Index residential property database, which is the nation’s largest with over 250,000 sales in the first eleven months of 2009 alone, Australia’s housing market continued to grind out strong gains in the month of November with cumulative double-digit growth recorded in the year-to-date.
Over the first 11 months of 2009, Australian home values rose by 11.3 per cent following on from their modest 3.8 per cent peak-to-trough falls in 2008.
2009 has been both an exceptional and surprising year for Australia’s property market.
And in the year-to-date, units (+12.5 per cent) have materially outperformed houses (+10.9 per cent) presumably due to the influence of the first time buyers’ boost.
Source: rpdata.com
Published: 04 January 2010