Murrumbidgee LGA has highest growth market in the past 20 years
The Murrumbidgee council area is the top-performing market in the country, according to CoreLogic.
CoreLogic said when it comes to market growth the Riverina town is number one.
The area’s median house prices have ballooned in the past 20 years, recording a growth of 13 percent per annum.
Tim Lawless, CoreLogic’s director of research, attributed the growth to an influx of new housing and strong local economic conditions.
“Prices have moved from an extremely low base which can magnify the percentage change," he said.
"Despite such a high growth rate over 20 years, the median prices is still less than $170,000.
“The vast majority of this growth occurred between 1998 and 2003 when the median price moved from slightly under $12,000 to $123,000 over this five year period.”
The most active suburb Coleambally recorded 18 sales in the past 12 months while 14 properties in Darlington Point changed hands in that period, CoreLogic RP Data showed.
A three bedroom house at 7 Demamiel Street, Darlington Point (above) has been listed for $209,000.
A four bedroom house at 39 Sandpiper Street, Coleambally (below) had its price reduced to $215,000.
Similarly a five bedroom house at 38 Kook Street, Darlington Point (below) has been listed for $199,000.
A three bedroom house at 13 Carrington Street, Darlington Point (below) was recently sold for $164,000.
A three bedroom house at 17 Hay Street, Darlington Point (below) was sold for $164,000.
Similarly a three bedroom house at 37 Sandpiper Street, Coleambally (below) was sold for $115,000.
