Regional Australian property values rise more than cities, led by mining regions, but some areas see declines.

Australia's regional property markets are outperforming city areas, with dwelling values rising 1.1% in three months to October, compared to 0.8% in cities. Mining regions in Western Australia and Queensland lead with Mackay, Geraldton, and Townsville seeing increases of 8.8%, 8.2%, and 6.6% respectively. However, markets in New South Wales and Victoria are cooling, with seven out of eight Victorian non-capital areas and ten of 21 NSW regions experiencing value drops. Regional rental prices increased 0.5% over the same period.

November 26, 2024
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