April 23, 2013
Property prices in the South Burnett have remained relatively flat over the past five years, according to a new study released by RP Data.
In their new “Autumn Investors Guide To Australia”, real estate valuers RP Data surveyed price movements for houses and units in every Australian town and suburb.
The study covered a five-year period from February 2008 to February 2013.
It found that prices in most of the South Burnett’s major towns have fallen by an average of between 0.2 per cent (Kingaroy) and 2.9 per cent (Wondai) per year over the past five years.
Only Proston (up 1.9 per cent) and Kumbia (up 3.0 per cent) showed any gains.
Rural areas performed better, with annual price rises ranging between 0.4 per cent (Lower Wonga), up to 5.0 per cent (Booie).
The report noted that Australian housing market conditions have been weaker than usual for the past five years.
RP Data identified 263 suburbs in Australia that have seen prices appreciate by an average 7.2 per cent over the period, meaning that properties in those suburbs would double in value within 10 years.
Just over 55 per cent of these were in regional areas and 44.3 per cent were in capital cities. Almost half were in Victoria and NSW.
The full report can be downloaded from RP Data’s website.
from February 2008 to February 2013 [Source: RP Data]
