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Overseas Property News
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House prices boom in Melbourne
Country: Australia
25 January 2008
House prices in Melbourne, Australia, rose significantly last year, surging by around 25%, according to fresh research conducted by Australian Property Monitors (APM).
APM report that the average property for sale in Melbourne was priced at $463,488 (£206,700) in December 2007, up from $370,059 (£165,000) during the same time in 2006. If house prices continue to appreciate at this rate of growth, then average prices in Melbourne could overtake Sydney – which recoded an annual rise of 4.8% last year - as the most expensive in Australia. However, the current level of growth in Melbourne’s property market looks unsustainable, according to APM.
The property market also faired well for Brisbane and Adelaide, where average house prices rose by around 20% last year to $425,368 and $400,649 respectively.
Subsiding confidence
The property market across many parts of Australia may now slow, due to weakening economic conditions. There is much uncertainity surrounding various financial markets, which is likely to have an impact on the country’s property sector - dampening buyer confidence in 2008.
APM projects that Sydney’s property market – which has been rather stagnant in recent years - will lead the way in 2008, with property prices expected to appreciate by up to 10% this year.
Some properties in Australia
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Price: £194,000
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Type: Land
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Featherbrook at Point Cook – only 25 mins from Melbourne Central Business District
With its vast open spaces and specially designed recreational areas, Featherbrook, Point Cook offers residents the very best in lifestyle options.
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View details | Enquire further
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Price: £207,900
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Type: House
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Bedrooms: 4
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New House and land packages, in the new growth coridor.
600sm 4 bedrooms and 3 baths, lock up garage. Tired of the old houseing style of old Europe. Everything is new, new, new
in Caboolture. Low rates, and maintance
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View details | Enquire further
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Price: £214,200
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Type: Apartment
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Bedrooms: 2
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Ocean frontage, 2 bed, 2 bath. 90sm. Near new in well kept resort. 70% Occupany all year around. Low season tariff 145
per day rental. Low body corp in resort area in Sunshine Coast. Great for holidays or retirement apartment
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View details | Enquire further
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Price: £287,500
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Type: House
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Bedrooms: 1/2
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Featherbrook at Point Cook – only 25 mins from Melbourne Central Business District
With its vast open spaces and specially designed recreational areas, Featherbrook, Point Cook offers residents the very best in lifestyle options.
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View details | Enquire further
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Price: s £367,000
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Type: Apartment
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Bedrooms: 1,2,3
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Description - Mainpoint - Melbourne’s newest land mark residential tower is a fantastic opportunity to secure your future.
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View details | Enquire further
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