Over two decades, property doubles pace of rent price growth
House prices across Australia's eight capital cities more than doubled over the past 20 years, ranging from Hobart's massive 269 per cent surge to Perth's more sedate 75 per cent increase.
House have comfortably outperformed apartments and townhouses over the past two decades. (Image source: Shutterstock.com)
Housing prices have doubled over the past two decades while rentals have recorded half that growth.
That was the finding of the Real Estate Institute of Australia (REIA) President, which initiated research into rental and price movements since 2002.
REIA President Hayden Groves said, the report, Real Estate Market Facts: 20 years, found the weighted average median house price for the eight capital cities increased 103.8 per cent to $1,011,208 f…
