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Boom-time for 'standout' Perth

Tuesday, March 16, 2010

Source: Catherine Deshayes

Perth has been the standout property market of the last decade, with 11 of the city's suburbs making the top 20 list for the fastest average annual price growth, according to residential researcher RP Data.

Perth has had two housing booms in the past 10 years, effectively creating a bull market for half of the last decade, says RP Data senior analyst Cameron Kusher.

He added: "The mining and resources boom pushed the average price growth for Perth houses to 12.2% a year, topped only by Darwin at 14.3% over the past decade".

Sydney fared the worst, with average annual price growth of 6.6 per cent over the past 10 years.

Source: www.propertyweek.com