Regional suburbs on the east coast of Australia were able to maintain a strong position in terms of home values ??and sales activity during the first months of the COVID-outbreak 19.
CoreLogic data revealed that the regional suburbs of New South Wales, Victoria and Queensland were successful in controlling the impacts of the COVID-19 epidemic on house prices, with some showing even gains in the quarter through June.
These regional suburbs have outperformed the capital cities in terms of median value growth and sales activity. For example, the median values ??for the New South Wales region rose 0.6% in the June quarter. During the same period, values ??in Sydney fell 0.8%.
The suburbs of the Victoria area also performed better than Melbourne, the former showing growth of 0.6% while the latter recording a decline of 0.1%.
While the Queensland region recorded a decline of 0.1% in the quarter, the decline was even larger in Brisbane, at 0.2%.
Here are some of the best suburbs in New South Wales, Victoria and Queensland during the June quarter:
John McGrath, founder and executive director of McGrath Estate Agents, said the increases in property prices in these suburbs reflect the resilience of the housing market amid an economic downturn.
"It's a reminder that real estate has a big advantage over all other classes of investment assets during an economic downturn. People don & # 39; t stop needing housing during a pandemic, recession or when they lose their jobs. supports property values, ”he said in a think tank in The Real Estate Conversation.
Top suburbs:
campsie
,
fern ravine
,
nightcliff
,
Penrith
,
new farm
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