Most expensive properties are the best performers nationally

During 2009 the residential property market rebounded well following a peak to trough fall in property values of 3.8% between February 2008 and December 2008.

On a national basis, the top 20 percent of most expensive postcodes have recorded the strongest property value growth during 2009 increasing by 11.9% during the year. Meanwhile the middle 60 percent of postcodes nationwide have seen property values grow by 11.8% and the 20 percent of most affordable postcodes have recorded value growth of a much lower 8.2%.

The most interesting detail of these results is that the recovery was initially led by the most affordable end of the market which recorded value growth of 3.9% during the 1st quarter of 2009 which cooled to 0.0% value growth during the 4th quarter. Meanwhile the top 20% of postcodes recorded the strongest rate of growth during the 2nd (3.4%) and 3rd (4.1%) quarters whilst the middle 60% of postcodes recorded the strongest growth during the final quarter of 2009 (2.7%).

Brisbane
During 2009, the top 20% of postcodes have recorded value growth of 13.9%, whilst the middle market has recorded growth of 7.6% and the lower end has recorded minimal growth of 2.5%. On an annualised basis over five years the most expensive properties have generally recorded the strongest level of value growth and the middle 60% of sales has generally seen the lowest value growth.

Source: RP Data Property Pulse, 12-Feb-10

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