According to the latest CoreLogic analysis, homes continued to outperform their apartment counterparts in regional Australian markets.
Overall, 15 of the regions monitored by CoreLogic posted increases in house prices. In contrast, unit values ??only increased in eight markets.
The Launceston and northeast Tasmania region reported the largest increase in house prices to 7.1%, bringing its median value to $ 338,139. The region's apartment market also outperformed the others, with its median unit price increasing 13.6% to $ 269,225.
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"It is not surprising to see the Launceston and northeastern Tasmania region topping the list for capital growth. The region benefited from a City Deal, 39; increased tourism that boosts the local economy and Hobart's growth spillover, as people seek relatively affordable housing elsewhere in Tasmania, "said Eliza Owen, head of residential research at CoreLogic .
The Gold Coast recorded the second largest increase in house prices at 5.2%, followed by Cairns at 4.2%.
However, the most robust sales volume was recorded in the Illawarra region, where activity increased by 9.8%. Ballarat, on the other hand, was the best-selling region, with houses spending only 30 days on the market.
Although Bunbury had the second highest sales volume of the year in January, the region reported a price decrease of 6.6%. Home prices also slowed in Riverina, which ended the 12-month period with a decline of 6.1%.
Read also: Shorter sales times in the Victoria region
The year was also a slow one in New England and the North West, where business activity declined 16.1%.
Conditions in the South Highland and Shoalhaven areas of New South Wales were also not ideal for sellers, particularly with its 103 days for homes and 101 days of sales time. for units.
Across all unit markets monitored by CoreLogic, Wide Bay in Queensland ranked second in terms of value growth. The prices of apartments in this region increased by 5.5% over the year until January.
Ballarat was also the best-selling unit market, with an average of 29 days on the market.
In terms of sales, Geelong tops the list after having recorded a 26.7% increase in its activity.
Owen said high-convenience areas that are close to major capitals are expected to experience further growth over the rest of the year.
“These include the Gold Coast and the Sunshine Coast, Geelong and the regions of Newcastle and Lake Macquarie. As housing affordability becomes a recurring problem in 2020, residents of the capital can once again seek relatively affordable housing in neighboring regions or high-quality regional areas, "said she said.
Top suburbs:
Berala
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Kawana
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Toowong
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geelong west
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alderley
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