Australian properties in Elwood and Caulfield North in Victoria are among the most undervalued in the country, according to a report.
The two Melbourne suburbs are "blue ribbon real estate bargains", Australian Property Investor said, despite the median house price being well above AUS$1 million (£577,000).
Blue ribbon suburbs are those that outperformed the Australian property market in 2007, underperformed the following year and then did better than the wider sector in 2009.
Speaking to News Community Media, spokeswoman Nicole Navarro, said: "2010 has begun strongly, with the suburbs seeing a further pick-up in demand."
Prices have now peaked however, said David Morrell of buyers' advocate Morrell and Koren.
Proposals to extend Melbourne's Urban Growth Boundary have been welcomed by the Property Council of Australia, which said the move will aid the economy and the housing sector.
Ensuring growth will help Victoria continue to prosper, explained Jennifer Cunich, executive director of the state branch of the council.
Posted by David McElwain
The two Melbourne suburbs are "blue ribbon real estate bargains", Australian Property Investor said, despite the median house price being well above AUS$1 million (£577,000).
Blue ribbon suburbs are those that outperformed the Australian property market in 2007, underperformed the following year and then did better than the wider sector in 2009.
Speaking to News Community Media, spokeswoman Nicole Navarro, said: "2010 has begun strongly, with the suburbs seeing a further pick-up in demand."
Prices have now peaked however, said David Morrell of buyers' advocate Morrell and Koren.
Proposals to extend Melbourne's Urban Growth Boundary have been welcomed by the Property Council of Australia, which said the move will aid the economy and the housing sector.
Ensuring growth will help Victoria continue to prosper, explained Jennifer Cunich, executive director of the state branch of the council.
Posted by David McElwain
