Analysts predict home values in these areas to increase by up to AUD141,000
Real estate experts predict that the house values in the inner-city suburbs of Adelaide, Melbourne, and Sydney would increase by 12 percent this year, as housing prices reach new records, reported the Daily Mail.
In spite of the construction of the WestConnex motorway, the average house rate in Sydney’s inner-west suburb of St. Peters will grow by AUD140,649 (USD97,800) from AUD1.17million.
Similarly in West Footscray, Melbourne’s inner-west, the median house prices are expected to surge by AUD95,796 from AUD 798,300.
Meanwhile, Adelaide’s inner-west suburb of Thebarton would also be experiencing a 12 percent raise, surging by AUD70,837 from AUD590,308.
A 10 percent hike in house value is also anticipated in Baybrook, west of central Melbourne, with average prices growing by AUD69,686 from AUD696,864. In Gungahlin, north of Canberra, home rates would increase by AUD74,869 from AUD748,694.
Last year, data published by CoreLogic revealed that Melbourne and Sydney were the top-performing housing markets in Australia.
As Melbourne’s upmarket inner-east benefitted from a 12.1 percent surge, the area experienced a phenomenal turnaround from being the most underperforming market to the best.
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