The latest residential hot-spot property investment list has been crunched by last year’s 2.9% fall in nationwide property values, but according to researchers RP Data, some individual suburbs in both city and country areas had recorded exceptional levels of price growth, citing standout performers in each state.
These property investment hot spots included Sydney’s McMahons Point with a jump of 47% in median price in a 12 month period; River Heads at Hervey Bay, where a 43.1% increase resulted in a median price of $415,000; and Victoria’s Portsea with a 37% increase to a median price of $1.455 million; and for units, Brisbane’s North Lakes received a mention, where a 47% increase pushed the median price to almost $461,000.
The Australian, Page 29, 26 March 2009, as quoted in The Matusik Report, itp, I April 2009
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