According to data from real estate analyst firm CoreLogic, the value of properties in the southwest of Sydney has soared by 112.9% over the past 10 years, far above the average of 46.9% in Australia.

According to 9 News, six of the fastest growing home prices are located in Sydney and Melbourne, where property values have tripled in a decade.

Ranked second is Parramatta (up 107.4%), followed by South West Sydney (up 106.6%) and Sydney’s Outer Southwest (up 103.3%).

Melbourne’s Southeast (up 102.7%) ranked fifth, while Melbourne’s West (up 102.3%) ranked sixth.

According to ATO statistics, there are 107 Australians with a population of over 100,000.

According to Cameron Kusher, research analyst at CoreLogic, there have been significant differences between the real estate market in Sydney and Melbourne and the real estate market in Western Australia over the past 10 years.

Kusher said: “The price increase in NSW and Victoria is much higher than in other regions.”

“In fact, even in the regions with the weakest housing prices in Riverina and Victoria (Northwest), the performance far exceeds the fastest rising housing prices in Western Australia (Northwest Perth).”

Looking at the worst performing real estate market in Australia, the abandoned mining business has had a serious impact on inland towns.

In the past decade, the region with the largest decline in house prices was in the northern inland region of Western Australia, with house prices falling by 38.3%.

This was followed by the southern inland region of Western Australia (down 34.0%), Mackay in Queensland (down 27.3%), Central Queensland (down 26.8%) and Townsville (down 23.6%).

Kusher said: “The residential value of Sydney and Melbourne has declined. Currently, the regional market performs better than the capital city.”

“Because the housing market in Sydney and Melbourne is in a downturn and the affordability of housing prices continues to increase, from this point of view, the crazy rise of the past decade seems unlikely to replicate.”