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Article: Home is where the growth is.
- Article from:
- Australasian Business Intelligence
- Article date:
- April 30, 2002
CopyrightCOPYRIGHT 2002 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Apr 30, 2002 (Money Magazine
ABIX via COMTEX) -- Australian capital cities registered an increase in the prices of residential real estate during 2001. According to information from the Real Estate Institute of Australia, Brisbane recorded the largest gain (20.5%), although the top median house price, of $A350,000, was in Sydney. The prediction for 2002 in Victoria is that older properties in Melbourne will continue to make further gains in value. Wakelin Property Advisory suggests that period homes and apartment blocks of the 1920s to 1940s will command higher prices in Melbourne, a position that appears true for cities such as Brisbane and Sydney as well. ...