Mosman still Australia’s top property market

Point Piper in Sydney's eastern suburbs recorded the highest median sales prices for both units and houses, while Brewarrina in North Western Australia was found to be the suburb with the most affordable median sales price – sitting at just $35,000.

RP Data analyst Cameron Kusher said 2011 was a weak performing year for the residential housing market with falls of 4.0 per cent in home values and limited housing credit growth.

Despite this, some suburbs performed incredibly well throughout the year, including Sandy Point in Gippsland Victoria, which recorded a 49 per cent increase in median sales prices over the year to December 2011. In terms of sales activity, Sydney's northern suburb of Mosman was by far the most popular suburb for houses, with more than $707 million of property exchanging hands over the year.

Meanwhile, Melbourne proved popular for units, with more than $461 million of property changing hands in 2011.

Source: The Adviser