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Capital City Property Growth

PROPERTY price growth has picked up pace increasing at its fastest rate in seven years.And in Sydney it has hit high speed with its growth rate faster than any experienced since 2002.
The latest CoreLogic home value index revealed property prices increased 1.4 per cent across the combined capital cities in March. The annual growth rate across the same area was 12.9 per cent — the highest annual rate of growth since the twelve months ending May 2010. CoreLogic head of research Tim Lawless said nationally price growth had not really slowed down, but it was driven by two capital cities in particular. If you look at Sydney and Melbourne, we are still seeing quarterly rate of growth in Sydney at 5 per cent and Melbourne at 4.2 per cent and now we are also seeing Canberra and Hobart consistently recording strong capital gains as well, so they are both in double digit growth field now.