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Sydney Strong Performing Sales

By Lachelle Ferguson

Australia’s best performing suburbs over the last quarter have been highlighted by a new report from Residex.

Sydney dominated the list for both houses and units, reflecting its record growth over recent months, said Onthehouse consulting analyst and Residex founder John Edwards.

“Growth in Sydney has continued, with house price growth of 8.15 per cent in the last quarter,” Mr Edwards said.

“We have not seen this high level of quarterly growth since September 1988, when Sydney saw its last large property price boom.”

The suburb of Beaumont Hills recorded the country’s strongest quarterly growth at 13.13 per cent.

With a median house price of $866,000, Beaumont Hills is also the most affordable Sydney suburb on the list.

Lawson and Katoomba in country New South Wales outperformed even other capital city markets, recording growth of 9.01 per cent and 8.58 per cent respectively.

Alphington in Melbourne’s east was the only suburb outside of New South Wales in the top 10, with growth reaching 8.65 per cent over the quarter.

For units, Sydney’s northern suburbs were standout performers, with Wollstonecraft recording the country’s highest growth over the quarter, at 7.27 per cent.

Outer suburbs like Plumpton and Werrington also recorded growth above 6.6 per cent.

Melbourne had two suburbs in the list, with Balwyn and Box Hill, while West Busselton was the only regional area to show strong unit growth.

Source: RPM

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