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Darwin house prices eclipse other Australian cities

Darwin recorded Australia's highest median house prices in the four weeks to June 2nd 2013, it has been reported.

A new study has revealed that Darwin has the highest median house price in Australia.

Research conducted by RP Data found that the median value in the Northern Territory capital is $620,000, reports Property Observer.

This was derived from 17 house sales over the four weeks to June 2nd 2013.

Sydney was found to have the highest median unit price, at $498,000. This figure was derived from 1,023 Australian home sales during the same timeframe.

The city also came in second behind Darwin in terms of the median house price, with a figure of $605,000.

Meanwhile, a separate RP Data study has found that Darwin recorded the highest rate of rental growth during the last 12 months - further evidence of the city's booming property market.

House rental prices rose by 9.5 per cent year-on-year, while unit prices were up by 9.6 per cent.

Perth saw the second fastest increase in rental values, with homes increasing by 8.9 per cent and units by 8.3 per cent over the year.

Posted by Steve Douglas

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