RP Data predicts property prices to double in a decade

July 17, 2014
Nandini Varma

According to RP Data more than 250 suburbs around Australia are predicted to double in value in the next ten years, that is 100 per cent growth. This implies tenants in almost 800 suburbs are potentially set to see their weekly rent double in the same time, according to new research by RP Data.

Analyst say, Victoria is the nation’s most likely state to see property values double, according to the report. The real estate data analysis firm tipped houses to double in Williams Landing (current median $407,970), while units are set to do likewise in Derrimut ($391,589) and Travancore ($443,507). Growth had been predicted on suburbs with annual growth topping 7.2 per cent.

Posted in: Property market

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