Australia's best places to buy listed

An Australian bank has devised a list of the best places in the country to buy a property.

St George Bank has come up with 24 location sthat it states will be most likely to hold their value, due to favourable factors concerning location, house price and type, demographics and facilities.

Granville in Sydney, Chadstone in Melbourne, Keperra in Brisbane, Bassendean in Perth and Thebarton in Adelaide were listed as 'stand-out' places to buy.

The 24 places were split between the major cities and a number of other localities around the country.

Focusing on the big cities, the bank's chief economist Besa Deda noted: "Over the 12 months to June, all mainland Australian capital city median dwelling values have risen."

A general increase in Australian property prices has been noted by a number of recent indicators, including the recent Knight Frank Global House Price Survey.

It revealed that after a 1.5 per cent fall in prices in the first quarter of 2009, the three months to June saw a 4.2 per cent rise.

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