Fed: Property boom ripples out from cities
Australia's property boom has reportedly rippled out from the capital cities on themainland to reach Tasmania, and even a once notorious island off Brisbane.
The Weekend Australian says a survey of the nation's top 100 suburbs, based on capitalgains, has identified a trend towards more isolated boom towns.
Among those identified by the survey was Russell Island, off Brisbane, which was oncenoteworthy for the real estate scams that saw investors sold land below the high tidemark.
The paper says the top performers are identified as Ulverstone in tasmania, NeutralBay in New South Wales, Penguin in Tasmania, Underwood in Queensland, and Glen Innes inNSW.
The figures coincide with home lending figures reaching a nine-year peak, and ReserveBank concern at rising levels of average household debt and the prospects of the propertybubble bursting.
AAP RTV pa/rt
KEYWORD: PROPERTY (SYDNEY)
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