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Lakemba, Sydney is the best performing suburb of the decade

1Mo ago 0 Replies 80 Views
Long-term property investors can purchase a mix of affordable and prestigious places, with new research showing the different ends of the spectrum topped the property market for decade growth.

The research commissioned by the Property Investment Professionals of Australia (PIPA) and CoreLogic showed, despite popular belief, a mixture of metropolitan and rural areas topped the list.
CoreLogic head of research Tim Lawless said investors were likely to find that, over the next 10 years, the best-performing markets are quite different.
“Just as they were over the earlier decade where, for example, mining regions and regional coastal markets were some of the strongest performing areas,” he said.
The city location with the highest annual capital growth in the nation over the past decade was Lakemba in the Canterbury region of Sydney.
Prices in Lakemba have grown by 8.4 per cent annually, with median house values doubling over the period growing to about $881,000.
The second placer was also in Sydney, this time in the Oatlands-Dundas Valley region of Carlingford, where house values grew by an average 8.1 per cent each year over the past decade. Its median house value has soared from $662,000 to $1.41 million over the past decade, according to the data.

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