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Aussie property leads world

28/06/2010

Australian property prices recorded growth of 16.5 per cent last year, behind just Hong Kong, Singapore and Taiwan. Australian property prices continue to grow faster than in other developed markets around the world, including Britain (growth last year of 5.4 per cent), New Zealand (up 1.5 per cent) and the USA (down 5.3 per cent).

The Global Property Guide warns that many Australian and New Zealand cities are overvalued. The president of the Real Estate Institute, David Airey denied there was a property price bubble in Australia, or that the price boom was over.

Source: The Daily Telegraph



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