Metro prices growing twice as fast as regional values
Investors with properties in the capital cities have enjoyed substantially larger capital growth over the past 12 months than those who bought in regional areas, according to new data.
CoreLogic RP Data statistics indicate that capital city house prices throughout Australia grew about twice as fast as regional prices in the 12 months to 31 March 2015.
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NSW recorded the greatest disparity, with the median metropolitan house price rising 13.4 per cent to $800,000 while the median country house price rose 5.6 per cent to $385,000.
Victoria’s median metropolitan house price climbed 6.6 per cent to $550,000, while the median country house price climbed 2.5 per cent to $200,000.
South Australian prices grew 5.1 per cent to $426,000 in the city and 1.8 per cent to $290,000 in the country.
Tasmanian prices increased 3.0 per cent to $360,000 in the city and remained flat at $252,000 in the country.
In Western Australia, the median metropolitan house price climbed 3.8 per cent to $550,000, while the median country house price climbed 1.3 per cent to $385,000.
Northern Territory saw metropolitan prices rise 5.6 per cent to $570,000 as country prices rose 4.5 per cent to $415,000.
Queensland had the smallest growth gap, with metropolitan house prices up 4.9 per cent to $490,000 and country house prices up 3.8 per cent to $410,000.
