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I have (historical) Median House Price figures and gains over last 10 years...(courtesy of Victorian Valuer-General).
Altona: 1994: Median House Price: $113,500.......2004: MPH: $330,000....change of: 191%
Altona North: 1994: $104,500..........2004: $284,000.......172%
Newport: 1994: $117,000.............2004: $370,000..........216%
Yarraville: 1994: $104,000............2004: $345,005.........232%
I don't have any IP's in these areas....and I know very little about them apart from the access to Victorian Valuer-General stats.
Two things of note about those stats
1) the relative order in values were unchanged in 10 years
2) the more expensive the suburb the greater the growth rate
I can't see any reason why history won't repeat over the next 10 years.
Twitch I've put the figures in price order for you
1994
Yarraville: 1994: $104,000
Altona North $104,500
Altona $113,500
Newport: 1994: $117,000
2004
Altona North $284,000
Altona $330,000
Yarraville: 1994: $345,005
Newport: 1994: $370,000
From this you can see Yarraville has move from cheapest, to 2nd most expensive in the list.
So I'd have to disagree with your statement that the more expensive the suburb, the higher the growth rate.... unless of course altona is due for a big correction ??
Top Performing Suburbs Across Melbourne 1994-2004:
West:
Braybrook:..Change 1994-2004: 236%....Growth PA: 12.9%...Change 2003-2004: 8%.....2004 Median House Price: $231,500
Yarraville:...232%....12.7%.......Minus 3%......$345,005
Footscray:...226%...12.6%.......2%..............$310,000
West Footscray:..221%...12.4%...Minus 2%...$305,000
Maidstone:...217%..........12.2%.......1%.......$285,000
(Courtesy of Vic. Valuer-General Statistics 1994-2005)
some more yet...