Surprise top-performing city
It may have investors worrying over recent price declines, but new data has revealed that this capital city’s performance was surpassed by none over the last decade.
The troubled Darwin market has actually outperformed both Sydney and Melbourne during the past decade, new statistics have revealed.
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Darwin recorded the greatest house price and unit price growth over the 10 years to August 2015, according to Onthehouse data.
The city’s house prices jumped an average of seven per cent per annum, while unit prices jumped an average of 7.2 per cent per annum.
Sydney was the number two market during that time, with house prices rising 6.8 per cent and unit prices rising 5.9 per cent.
Melbourne came in at number three after house prices climbed 6.8 per cent and unit prices climbed 5.6 per cent.
The ACT experienced a 4.6 per cent increase in house prices and 3.2 per cent increase in unit prices.
Adelaide residents saw prices increase by 4.5 per cent for houses and 4.7 per cent for units.
In Perth, prices rose 4.1 per cent for houses and 5.2 per cent for units.
Brisbane house prices grew 4 per cent, while unit prices grew 3.9 per cent.
Hobart had the lowest capital gains over the decade, with house prices up 2.8 per cent and unit prices up 3.3 per cent.
Across Australia, there was a 4.7 per cent increase in house prices and 4.5 per cent increase in unit prices.
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