While regional price growth is now at a slower pace compared with capital cities, a number of Australia’s regional markets are still performing well, according to CoreLogic’s latest Regional Market Update.
The report which analyses Australia’s largest 50 non-capital city locations says 12 locations (eight in Queensland, two in NSW and two in Western Australia) hit new price peaks in October.
Bunbury in Western Australia had the largest increase of 4.6% over the three months to October, followed by Lismore (NSW), up 4.3% and St Georges Basin – Sanctuary Point (NSW) up 3.9%.
The report says New South Wales and Queensland were undeniably the best-performing states, each making up four of the top 10 positions in terms of quarterly value growth.
The best performer over 12 months was Bundaberg in Queensland with growth of 10.8% while Albany in Western Australia had the shortest days on market of just 18 days and Lismore had the highest change in annual sales volumes.