Australia's 'middle market' reaping the rewards of price rises

All sectors of the Australian property market recorded price rises over the past year, with the ‘middle market’ reaping the strongest gains.

According to RP Data’s latest quarterly review of the residential property market, over the 12 months to October, home values across the broad ‘middle market’ suburbs had the greatest value growth at 8.1%.

Also, the most affordable and most expensive capital city suburbs each recorded value growth of 6.7% and 7.4% respectively over the past year.

And, over the past three months, home values rose across all sectors with affordable suburbs recording value growth of 2.1%, the middle market 3.4% and the most expensive suburbs 3.8% growth.