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The 270 suburbs where home prices have surged over the past year

Regional and outer suburbs headline a long list of hotspots where prices have surged over the past year, as buyers chased larger homes, a lifestyle change or more affordable options.

The 270 suburbs where home prices have surged over the past year

01 December 2022

While the heady days of the housing boom are over and rate rises have driven widespread price falls, a large number of suburbs across Australia have notched up strong price growth of up to 60% in a year.

Where prices have surged over the past year

PropTrack economist Angus Moore tells us that, while prices are falling nationally, some areas are performing better than others.

"There are still areas where we've seen very strong growth over the past 12 months, particularly in more peripheral parts of the city," he said.

He tells us that, particularly in the larger capital cities, outer suburbs have been outperforming the inner city.

The strong demand and price growth in many areas can partly be attributed to preference shifts during Covid, including more room to live and a tree or sea change.

"We've seen, through the pandemic, people wanting more space," Mr Moore said.

"That seems to be continuing and that pushes people a little further out of the city because it's very hard to find large dwellings in the inner part of the city, and particularly hard to find them at an affordable price point.

"These further out suburbs are usually more affordable and, as interest rates rise and borrowing capacities fall for would-be buyers, we might see some people shift where they're looking to buy or search a bit further out."

Vineyards
Picture: Getty

A small suburb in the Cessnock area in the Hunter Valley, one of Australia's best wine regions, had the strongest price growth nationally over the past year.

Mr Moore said the strong demand for homes in regional areas had driven up prices, particularly in locations within commuting distance to a major city such as the Sunshine Coast, Gold Coast, Wollongong and Geelong.

"We've seen regional prices consistently outperform capital cities across much of the pandemic, and that's showing up in terms of the strong growth we're seeing in some of those regional suburbs."

The PropTrack analysis shows the suburbs in each state and territory with the highest annual growth in median sale prices in the 12 months to 31 August.

Inner city suburbs also feature in some of the top 10 lists, particularly in Hobart, Adelaide, Perth and Canberra.

See the data for your state:

New South Wales

A small suburb on the outskirts of Cessnock in the Hunter Valley outdid every other suburb in Australia in house price growth over the past year. Bellbird's median house price surged by 59.5% to $630,000.

Brendan King, a real estate agent at Belle Property Hunter Valley, said the median was lifted by high-end sales that broke Bellbird's price record twice over the past year.

four-bedroom lifestyle property on a small acreage holds the record after selling in May for $1.655 million, almost double what the vendors paid three-and-a-half years earlier.

4 bedroom house and garden
Picture: realestate.com.au/sold

Mr King said prices in the Cessnock area are still growing, despite properties selling a little more slowly than they did at the peak of the boom.

He said buyers could get four-bedroom, two-bathroom and two-car homes for $650,000 in the Hunter region.

"It's still an affordable area. The first-home buyers cannot afford to buy in a lot of areas but they're coming out to the Hunter now and seeing the lifestyle and that it's good for families."

The always-popular Byron Bay had the highest annual growth for apartments in NSW, with its median unit price up 54% to $1.295 million.

In Greater Sydney, outer suburbs and the likes of The Entrance and North Avoca on the Central Coast topped the annual growth for house prices.

Balcony with ocean view
Picture: realestate.com.au/buy

Austral, 42km south-west of the Sydney CBD, saw the highest increase in price at 55.3%, taking its median house price to $1.085 million.

Wos Ayoubi, principal at Wos Realty Austral, said there is still strong buyer demand for the suburb but the rapid rise in interest rates is impacting the market. 

"There's still people interested in moving here, but you still have half of them sitting on the sidelines waiting for things to settle down.

"Enquiry levels aren't the same, but people do want to buy eventually; they just don't know what's happening in the market. There is a lot of uncertainty."

House with garage
Picture: realestate.com.au/sold

Mr Ayoubi said market conditions have quietened due to the impact of interest rate rises, which has made it harder for people to get loans, increased their repayments, and reduced the amount they can borrow.

"I'm seeing a lot of people fall over before they can even exchange contracts," he said. "Things are still selling but they're very slow."

There is a lot of development activity in Austral in the urban-rural fringe, although Mr Ayoubi said the slow release of land in the South West Growth Area needs to be addressed. "That has compounded the issues with pricing and affordability," he said.

He said speeding up that process would improve affordability for first-home buyers.

"You're looking at a million dollars for a small house and land package, and that's not affordable anymore for a lot of first-home owners."

Mr Moore said, while the PropTrack Home Price Index showed prices in Sydney fell almost 1% over the past year, prices in the south-west are up 7% and 6% higher in the outer west and Blue Mountains.

Greater Sydney's highest price growth suburbs

Dwelling

Suburb

Region

Annual price growth

Suburb median price

House

Austral

Sydney – South-West

55.3%

$1,085,000

House

Silverdale

Sydney - Outer West and Blue Mountains

48.5%

$1,277,000

House

The Entrance

Central Coast

48.3%

$1,090,000

House

Erina

Central Coast

45.8%

$1,400,000

House

North Avoca

Central Coast

45.6%

$2,100,000

House

Melonba

Sydney - Blacktown

45.0%

$1,160,000

House

Bundeena

Sydney - Sutherland

44.2%

$1,875,000

House

East Gosford

Central Coast

43.5%

$1,100,000

House

Bronte

Sydney - Eastern Suburbs

43.2%

$6,750,000

House

Barden Ridge

Sydney - Sutherland

43.0%

$1,680,000

Unit

Darling Point

Sydney - Eastern Suburbs

41.4%

$2,775,000

Unit

Norwest

Sydney - Baulkham Hills and Hawkesbury

40.7%

$1,235,000

Unit

Edgecliff

Sydney - Eastern Suburbs

39.1%

$1,600,000

Unit

Terrigal

Central Coast

35.5%

$1,255,000

Unit

Kirribilli

Sydney - North Sydney and Hornsby

35.2%

$1,812,118

Unit

Richmond

Sydney - Outer West and Blue Mountains

34.1%

$650,500

Unit

Long Jetty

Central Coast

33.8%

$715,000

Unit

Forest Lodge

Sydney - City and Inner South

33.7%

$1,270,000

Unit

Cherrybrook

Sydney - Baulkham Hills and Hawkesbury

33.0%

$1,350,000

Unit

Gorokan

Central Coast

29.3%

$540,000

Source: PropTrack. Price growth is measured as annual growth in median sales price, comparing Sept 2021-Aug 2022 to Sept 2020-Aug 2021.

Regional New South Wales highest price growth suburbs

Dwelling

Suburb

Region

Annual price growth

Suburb median price

House

Bellbird

Hunter Valley exc Newcastle

59.5%

$630,000

House

Long Beach

Capital Region

56.5%

$1,000,000

House

Jindabyne

Capital Region

56.0%

$1,455,000

House

Terranora

Richmond - Tweed

55.6%

$1,400,000

House

Shoal Bay

Hunter Valley exc Newcastle

55.4%

$1,157,500

House

Portland

Central West

53.2%

$429,000

House

Mollymook Beach

Southern Highlands and Shoalhaven

53.1%

$1,370,000

House

Aberdare

Hunter Valley exc Newcastle

52.3%

$615,000

House

Wallerawang

Central West

52.2%

$530,500

House

East Ballina

Richmond - Tweed

51.8%

$1,500,000

Unit

Byron Bay

Richmond - Tweed

54.0%

$1,295,000

Unit

Lennox Head

Richmond - Tweed

50.1%

$1,275,000

Unit

South West Rocks

Mid North Coast

47.6%

$513,750

Unit

Adamstown

Newcastle and Lake Macquarie

46.6%

$670,000

Unit

Goonellabah

Richmond - Tweed

43.5%

$550,000

Unit

Casuarina

Richmond - Tweed

41.9%

$940,000

Unit

Jindabyne

Capital Region

40.9%

$775,000

Unit

Yamba

Coffs Harbour - Grafton

40.3%

$775,000

Unit

Toronto

Newcastle and Lake Macquarie

37.3%

$755,000

Unit

Singleton

Hunter Valley exc Newcastle

37.3%

$350,000

Source: PropTrack. Price growth is measured as annual growth in median sales price, comparing Sept 2021-Aug 2022 to Sept 2020-Aug 2021.

Victoria

Many outer suburbs in greater Melbourne are outperforming the inner city when it comes to prices, led by some lifestyle hotspots on the Mornington Peninsula and Macedon Ranges. 

Beach huts
Picture: Getty

Matt Carroll, director at Scenic Property Dromana, tells us that while demand has dropped a little and the market is more price sensitive compared to six months ago, there are still plenty of buyers.

"If the property's priced accurately, it's still creating that competition in bidding and buying."

Mr Carroll said the strongest demand is for A-grade properties or turnkey homes that don't need to be renovated.

Melbourne downsizers and holiday home buyers remain the main purchasers, with the ability to work from home attracting more people from the city during the pandemic.

"The Melbourne market is still funnelling down the Mornington Peninsula because of the lifestyle it offers down here," Mr Carroll said.

House and garden
Picture: realestate.com.au/buy

Mr Carroll said part of the appeal of Safety Beach is its freeway access to Melbourne. The whole suburb is also beachside, rather than split by the freeway like many other Mornington Peninsula suburbs.

"It's like a boutique sleepy suburb. It's that rustic sort of feel where people feel like they're getting away from the big smoke."

The Gippsland town of Bunyip, right on the south-east edge of greater Melbourne, had 33% annual price growth.

Mr Moore noted prices in Melbourne's south-east, west and the Mornington Peninsula have held up a bit better than the inner city over the past 12 months.

"Prices in the west and south-east are still up 4% over the past year, whereas prices in Melbourne overall are basically flat."

All of regional Victoria's top 10 had median house price growth above 40%, with three above 50%. The historic High Country village of Bright was the leader for growth, seeing a 53% rise to $1.225 million.

Greater Melbourne highest price growth suburbs

Dwelling

Suburb

Region

Annual price growth

Suburb median price

House

Safety Beach

Mornington Peninsula

38.2%

$1,285,000

House

Bunyip

Melbourne – South-East

33.3%

$800,000

House

Kilsyth South

Melbourne - Outer East

30.8%

$1,200,000

House

Bonbeach

Melbourne - Inner South

30.6%

$1,260,000

House

Riddells Creek

Melbourne – North-West

30.3%

$1,107,500

House

Narre Warren North

Melbourne – South-East

29.9%

$1,760,000

House

Sorrento

Mornington Peninsula

28.8%

$2,520,000

House

Pearcedale

Melbourne – South-East

28.3%

$975,000

House

Gisborne

Melbourne – North-West

27.8%

$1,158,000

House

Millgrove

Melbourne - Outer East

27.4%

$616,250

Unit

Moorabbin

Melbourne - Inner South

51.4%

$833,500

Unit

Blackburn South

Melbourne - Inner East

42.9%

$900,000

Unit

Williamstown

Melbourne - West

24.0%

$843,500

Unit

Parkville

Melbourne - Inner

21.4%

$625,000

Unit

Hastings

Mornington Peninsula

20.6%

$550,000

Unit

Mount Martha

Mornington Peninsula

20.3%

$880,000

Unit

Rosebud

Mornington Peninsula

19.9%

$730,000

Unit

Mount Eliza

Mornington Peninsula

19.2%

$775,000

Unit

Black Rock

Melbourne - Inner South

18.9%

$1,225,000

Unit

Balwyn North

Melbourne - Inner East

17.7%

$1,153,000

Source: PropTrack. Price growth is measured as annual growth in median sales price, comparing Sept 2021-Aug 2022 to Sept 2020-Aug 2021.

Regional Victoria highest price growth suburbs

Dwelling

Suburb

Region

Annual price growth

Suburb median price

House

Bright

Hume

53.1%

$1,225,000

House

Wy Yung

Latrobe - Gippsland

51.4%

$710,000

House

Eagle Point

Latrobe - Gippsland

50.6%

$595,000

House

Rochester

Shepparton

47.5%

$442,500

House

Dinner Plain

Hume

45.3%

$890,000

House

Yallourn North

Latrobe - Gippsland

44.0%

$360,000

House

Myrtleford

Hume

42.3%

$624,500

House

North Wonthaggi

Latrobe - Gippsland

40.9%

$648,250

House

Ararat

North-West

40.6%

$381,000

House

Dennington

Warrnambool and South-West

40.6%

$625,500

Unit

Lakes Entrance

Latrobe - Gippsland

40.3%

$425,000

Unit

Moe

Latrobe - Gippsland

35.3%

$230,000

Unit

Shepparton

Shepparton

33.1%

$339,500

Unit

Golden Square

Bendigo

29.8%

$422,000

Unit

Wodonga

Hume

29.8%

$316,000

Unit

Kennington

Bendigo

28.5%

$450,000

Unit

Herne Hill

Geelong

28.3%

$399,000

Unit

Wonthaggi

Latrobe - Gippsland

24.1%

$490,000

Unit

Newcomb

Geelong

23.5%

$530,000

Unit

Mildura

North-West

23.4%

$290,000

Source: PropTrack. Price growth is measured as annual growth in median sales price, comparing Sept 2021-Aug 2022 to Sept 2020-Aug 2021.

Queensland

Suburbs on the Gold Coast and Sunshine Coast have recorded some of the strongest increases in prices over the past year, with other regional Queensland locations also posting high annual growth.

The median house price at Surfers Paradise jumped 53.3% to $2.797 million. Clear Island Waters, also on the Gold Coast, had a 52.6% rise to $1.95 million.

House and pool
Picture: realestate.com.au/buy

Surfers Paradise had the strongest annual house price growth in Queensland, with homes on the Gold Coast as well as the Sunshine Coast in huge demand.

The Sunshine Coast topped growth in Queensland for units, with Sunshine Beach's median unit price up 45% to $1.64 million.

Vast numbers of people, particularly from Sydney and Melbourne, have moved to South East Queensland during the pandemic.

Mr Moore said interstate migration and huge demand has driven up prices, particularly in the Gold and Sunshine Coasts, but also in Brisbane.

"To date, that shift in demand for these areas looks to be continuing. We are continuing to see prices in Brisbane outperform Sydney and Melbourne."

Mr Moore said the more affordable capitals of Brisbane and Adelaide are expected to continue to outperform in terms of prices, as people look for larger homes and to relocate, if they're able to work remotely.

Greater Brisbane's top 10 includes a few inner-city entrants, such as riverside Hamilton, although suburbs further out from the CBD also feature.

House with pool and bbq area
Picture: realestate.com.au/buy

Brisbane's highest price growth and most in-demand suburb for houses over the past year is Kenmore Hills, about 14km south-west of the CBD. Its median house price has grown 50.2% to $1.51 million.

Jarrod Hooley, a sales executive at Brisbane Real Estate Indooroopilly, said buyers had been discovering Kenmore Hills over the past few years once they expanded their search a little bit further out than the likes of Kenmore.

"It's more affordable than Chapel Hill but the houses are newer than the ones they're looking at in Kenmore. They've got more access to parks and it's a quieter area than the majority of Kenmore."

While prices in Kenmore Hills have jumped over the past year, Mr Hooley described the market as unpredictable.

"We've got a lot of buyers coming through giving us offers 10-30% lower than the asking price because they say the market's headed backwards. But they're still standing at an open home that has 15-20 groups coming through it. Prior to Covid, I'd be happy with four to five groups."

Greater Brisbane highest price growth suburbs

Dwelling

Suburb

Region

Annual price growth

Suburb median price

House

Kenmore Hills

Brisbane - West

50.2%

$1,510,000

House

Woody Point

Moreton Bay - North

49.8%

$830,000

House

Thorneside

Brisbane - East

49.1%

$967,150

House

Newport

Moreton Bay - North

47.1%

$1,280,000

House

Hamilton

Brisbane Inner City

46.7%

$2,215,000

House

Eight Mile Plains

Brisbane - South

46.6%

$1,201,750

House

Kooralbyn

Logan - Beaudesert

45.5%

$550,000

House

Windsor

Brisbane Inner City

43.3%

$1,340,000

House

Alderley

Brisbane Inner City

43.3%

$1,286,000

House

Eagleby

Logan - Beaudesert

43.2%

$501,350

Unit

Wakerley

Brisbane - East

36.1%

$571,500

Unit

Balmoral

Brisbane Inner City

33.6%

$755,000

Unit

Ellen Grove

Ipswich

33.3%

$350,000

Unit

Griffin

Moreton Bay - South

33.2%

$421,000

Unit

Springfield

Ipswich

32.2%

$390,000

Unit

Brassall

Ipswich

31.5%

$302,500

Unit

Loganlea

Logan - Beaudesert

31.2%

$315,000

Unit

Norman Park

Brisbane Inner City

29.6%

$635,000

Unit

Tingalpa

Brisbane - East

29.0%

$518,750

Unit

Taigum

Brisbane - North

29.0%

$432,000

Source: PropTrack. Price growth is measured as annual growth in median sales price, comparing Sept 2021-Aug 2022 to Sept 2020-Aug 2021.

Regional Queensland highest price growth suburbs

Dwelling

Suburb

Region

Annual price growth

Suburb median price

House

Surfers Paradise

Gold Coast

53.3%

$2,797,000

House

Clear Island Waters

Gold Coast

52.6%

$1,950,000

House

Collinsville

Mackay - Isaac - Whitsunday

52.5%

$152,500

House

Agnes Water

Central Queensland

52.1%

$680,000

House

Innes Park

Wide Bay

51.7%

$682,500

House

Eumundi

Sunshine Coast

50.6%

$1,287,500

House

Mundubbera

Wide Bay

49.1%

$197,500

House

Cooroibah

Sunshine Coast

48.6%

$1,300,000

House

Yarraman

Darling Downs - Maranoa

47.2%

$265,000

House

Glenwood

Wide Bay

47.0%

$441,000

Unit

Sunshine Beach

Sunshine Coast

45.1%

$1,640,000

Unit

Caloundra

Sunshine Coast

44.8%

$782,000

Unit

Rainbow Beach

Wide Bay

43.9%

$410,000

Unit

Currimundi

Sunshine Coast

40.7%

$652,500

Unit

Agnes Water

Central Queensland

40.7%

$415,000

Unit

Peregian Springs

Sunshine Coast

39.5%

$865,000

Unit

Scarness

Wide Bay

38.3%

$430,000

Unit

Maryborough

Wide Bay

37.7%

$230,000

Unit

Hollywell

Gold Coast

37.5%

$1,292,500

Unit

Peregian Beach

Sunshine Coast

37.5%

$976,000

Source: PropTrack. Price growth is measured as annual growth in median sales price, comparing Sept 2021-Aug 2022 to Sept 2020-Aug 2021.

Tasmania

Tranmere, on Hobart's eastern shore, recorded the second highest house price growth across Australia. Its median house price surged 59.3% to $1.3 million in the past year.

Jake Towns, director at Petrusma Property Howrah, said Tranmere's big draw is its spectacular views across the River Derwent to Hobart's cityscape and the peaks of Mount Wellington.

"It's really got unrivalled views. There are few homes in Tranmere that don't have 180-degree uninterrupted views.

"It's quite stunning and you've also got a front row seat for the Sydney to Hobart (yacht race).

"All the homes there are, on Hobart scale, very big and very grand, so you are surrounded by a lot of very high-quality homes," he added.

Mr Towns said Tranmere's median sale price is also strong because it’s a relatively new suburb where almost all the homes are new and larger.

Tasmania
Picture: realestate.com.au/buy

Other suburbs with strong growth included Carlton (up 49.8% to $726,000) and South Hobart, one of Hobart's and Australia's fastest-selling suburbs, which had 48.6% annual growth in its median house sale price to $1.085 million.

Mr Moore said Hobart was one of the particularly strong performers across the pandemic.

"We saw very brisk price growth through the back half of 2020 and in 2021 coupled with extremely tight conditions with very few listings for buyers to choose from and quite strong demand. That meant we saw prices grow very briskly in all parts of Tasmania."

Mr Moore said market conditions in Hobart have shifted this year, with the total number of properties for sale now back above pre-pandemic levels. Hobart prices fell in August but remain 10% higher than a year ago.

Mr Towns said conditions have softened in greater Hobart and investor activity, in particular, has slowed.

"The top end of the market hasn't felt it as much. We get a lot of people moving here from interstate cities looking for a green change," he added.

Greater Hobart highest price growth suburbs

Dwelling

Suburb

Region

Annual price growth

Suburb median price

House

Tranmere

Hobart

59.3%

$1,300,000

House

Carlton

Hobart

49.8%

$726,000

House

South Hobart

Hobart

48.6%

$1,085,000

House

Bridgewater

Hobart

43.5%

$476,500

House

Primrose Sands

Hobart

38.8%

$527,500

House

Warrane

Hobart

36.8%

$605,500

House

Sorell

Hobart

35.2%

$676,000

House

Mornington

Hobart

33.1%

$645,500

House

West Moonah

Hobart

32.2%

$750,000

House

Lenah Valley

Hobart

30.8%

$900,000

Unit

Bellerive

Hobart

47.7%

$650,000

Unit

Brighton

Hobart

40.4%

$500,000

Unit

Lenah Valley

Hobart

35.6%

$600,000

Unit

Kingston

Hobart

22.1%

$595,000

Unit

Howrah

Hobart

20.6%

$615,000

Unit

Glenorchy

Hobart

20.2%

$470,000

Unit

Sandy Bay

Hobart

20.2%

$775,000

Unit

Moonah

Hobart

17.8%

$525,000

Unit

Claremont

Hobart

12.0%

$440,000

Source: PropTrack. Price growth is measured as annual growth in median sales price, comparing Sept 2021-Aug 2022 to Sept 2020-Aug 2021.

Regional Tasmania highest price growth suburbs

Dwelling

Suburb

Region

Annual price growth

Suburb median price

House

Port Sorell

West and North-West

46.4%

$735,000

House

Beaconsfield

Launceston and North-East

45.0%

$435,000

House

Waverley

Launceston and North-East

44.1%

$400,000

House

Mayfield

Launceston and North-East

42.9%

$375,000

House

Deloraine

Launceston and North-East

42.5%

$570,000

House

Bicheno

South-East

41.7%

$730,000

House

Prospect Vale

Launceston and North-East

40.9%

$680,000

House

Launceston

Launceston and North-East

40.7%

$781,000

House

Miandetta

West and North-West

38.0%

$490,000

House

Acton

West and North-West

37.6%

$344,000

Unit

Prospect Vale

Launceston and North-East

28.1%

$462,500

Unit

Riverside

Launceston and North-East

27.8%

$446,000

Unit

Newnham

Launceston and North-East

23.7%

$360,000

Unit

Ulverstone

West and North-West

22.5%

$367,500

Unit

Devonport

West and North-West

18.3%

$377,500

Source: PropTrack. Price growth is measured as annual growth in median sales price, comparing Sept 2021-Aug 2022 to Sept 2020-Aug 2021.

South Australia

Inner-ring suburbs dominate Adelaide's highest-growth suburbs, although the list is topped by Elizabeth South in the outer north, where the median house price rose by 56.8% to $290,000.

Inner-city Erindale had annual growth of 55.9% to $1.715 million, and Clarence Park's median increased by 52.9% to $1.185 million.

House and garden
Picture: realestate.com.au/buy

All suburbs making Adelaide's top 10 list had annual price growth above 45%, including homes in Kensington Park, where the median house price now sits at $1.647 million.

Like Brisbane, Adelaide has benefited from people looking for larger homes in the more affordable capitals.

Adelaide is the strongest-performing capital city market over the past year with 18.6% annual home price growth, according to the Home Price Index.

"It's been driven by people wanting a bit more space, which Adelaide can offer as a slightly smaller city with larger land parcels," Mr Moore said.

"Adelaide is quite a bit more affordable than Sydney and Melbourne, so if you want a detached house or an extra bedroom, it is far more achievable somewhere like Adelaide."

The Home Price Index showed regional South Australia was the only major market defying the widespread downturn in prices in August, hitting a new price peak after strong annual growth of 19.4%.

The historic mining town of Burra, on the edge of the Clare Valley, had the third highest annual growth nationally in median house prices, up 58.3% to $285,000.

Greater Adelaide highest price growth suburbs

Dwelling

Suburb

Region

Annual price growth

Suburb median price

House

Elizabeth South

Adelaide - North

56.8%

$290,000

House

Erindale

Adelaide - Central and Hills

55.9%

$1,715,000

House

Clarence Park

Adelaide - Central and Hills

52.9%

$1,185,000

House

Vale Park

Adelaide - Central and Hills

49.1%

$1,200,000

House

Marden

Adelaide - Central and Hills

48.4%

$920,000

House

Kensington Park

Adelaide - Central and Hills

48.4%

$1,647,000

House

Burnside

Adelaide - Central and Hills

48.3%

$1,370,000

House

Davoren Park

Adelaide - North

47.4%

$280,000

House

Croydon Park

Adelaide - West

46.5%

$710,500

House

Elizabeth Grove

Adelaide - North

45.5%

$320,000

Unit

Salisbury

Adelaide - North

34.4%

$291,750

Unit

Glenelg South

Adelaide - South

28.2%

$545,000

Unit

Seaton

Adelaide - West

27.0%

$420,000

Unit

Broadview

Adelaide - North

26.8%

$400,000

Unit

Henley Beach

Adelaide - West

26.7%

$507,500

Unit

Fullarton

Adelaide - Central and Hills

26.1%

$561,800

Unit

West Beach

Adelaide - West

25.2%

$393,250

Unit

North Adelaide

Adelaide - Central and Hills

22.9%

$522,500

Unit

Glenelg North

Adelaide - South

19.1%

$406,000

Unit

Paradise

Adelaide - Central and Hills

18.4%

$450,000

Source: PropTrack. Price growth is measured as annual growth in median sales price, comparing Sept 2021-Aug 2022 to Sept 2020-Aug 2021.

Regional South Australia highest price growth suburbs

Dwelling

Suburb

Region

Annual price growth

Suburb median price

House

Burra

Barossa - Yorke - Mid North

58.3%

$285,000

House

Riverglades

South Australia – South-East

54.7%

$430,000

House

Mount Compass

South Australia – South-East

49.3%

$672,000

House

Risdon Park South

Barossa - Yorke - Mid North

48.6%

$267,500

House

Goolwa North

South Australia – South-East

43.2%

$615,000

House

Coffin Bay

South Australia - Outback

38.2%

$525,000

House

Goolwa South

South Australia – South-East

36.5%

$524,000

House

New Town

Barossa - Yorke - Mid North

33.1%

$356,000

House

Jamestown

Barossa - Yorke - Mid North

32.5%

$210,750

House

North Beach

Barossa - Yorke - Mid North

32.1%

$462,500

Unit

Mount Gambier

South Australia – South-East

10.0%

$225,500

Unit

Victor Harbor

South Australia – South-East

9.9%

$415,000

Source: PropTrack. Price growth is measured as annual growth in median sales price, comparing Sept 2021-Aug 2022 to Sept 2020-Aug 2021.

Western Australia

Inner-city and middle-ring suburbs featured heavily in greater Perth's highest growth list, led by Mount Hawthorn's 32.6% annual increase that took its median house price to $1.28 million.

Other inner-ring suburbs on the list included North Perth, Mount Claremont and Wembley Downs. 

North Beach's median house price rose almost 32% to $1.38 million while Cottesloe, home to the popular Cottesloe Beach, recorded 25.5% growth to $3.056 million.

Perth home prices were flat in August, but prices rose by more than 8% over the past year.

House with white picket fence
Picture: realestate.com.au/buy

Mr Moore noted Perth did not have the same uplift in prices as other cities during the pandemic, partly because it recorded very steep rises during the mining investment boom in the early 2010s. 

"The fact that prices in Perth didn't run up as much through the pandemic means we're expecting we won't see as much of a pullback in Perth as in maybe some of the other capital cities," Mr Moore said.

"We're expecting prices will probably still be up over this year in Perth and maybe broadly flat next year.

"It now looks relatively more affordable compared to some of the other capital cities than it did pre-pandemic."

Greater Perth highest price growth suburbs

Dwelling

Suburb

Region

Annual price growth

Suburb median price

House

Mount Hawthorn

Perth - Inner

32.6%

$1,280,000

House

North Beach

Perth – North-West

31.7%

$1,382,500

House

North Perth

Perth - Inner

29.2%

$1,163,000

House

Gwelup

Perth – North-West

28.4%

$1,092,500

House

Silver Sands

Mandurah

25.7%

$525,000

House

Cottesloe

Perth - Inner

25.5%

$3,056,000

House

Mount Claremont

Perth - Inner

25.4%

$1,767,500

House

Wembley Downs

Perth – North-West

24.3%

$1,430,000

House

Chidlow

Perth – North-East

23.8%

$656,000

House

Edgewater

Perth – North-West

23.7%

$695,000

Unit

Kalamunda

Perth – South-East

42.3%

$580,000

Unit

Wannanup

Mandurah

30.0%

$725,000

Unit

North Fremantle

Perth – South-West

28.7%

$965,000

Unit

Dudley Park

Mandurah

22.6%

$315,000

Unit

East Cannington

Perth – South-East

20.2%

$336,000

Unit

Baldivis

Perth – South-West

17.5%

$319,000

Unit

Bicton

Perth – South-West

16.3%

$500,000

Unit

East Fremantle

Perth – South-West

16.1%

$540,000

Unit

Ellenbrook

Perth – North-East

15.4%

$300,000

Unit

Scarborough

Perth – North-West

15.3%

$550,000

Source: PropTrack. Price growth is measured as annual growth in median sales price, comparing Sept 2021-Aug 2022 to Sept 2020-Aug 2021.

Regional Western Australia highest price growth suburbs

Dwelling

Suburb

Region

Annual price growth

Suburb median price

House

Rangeway

Western Australia - Outback (South)

56.4%

$172,000

House

Albany

Western Australia - Wheat Belt

48.9%

$850,000

House

Moora

Western Australia - Wheat Belt

37.8%

$155,000

House

Beachlands

Western Australia - Outback (South)

36.2%

$361,000

House

Wonthella

Western Australia - Outback (South)

33.6%

$320,000

House

Dongara

Western Australia - Outback (South)

33.1%

$442,000

House

Utakarra

Western Australia - Outback (South)

31.2%

$262,500

House

Vasse

Bunbury

30.4%

$600,000

House

Cowaramup

Bunbury

28.6%

$849,000

House

Busselton

Bunbury

27.8%

$620,000

Unit

Margaret River

Bunbury

38.8%

$465,000

Unit

Cable Beach

Western Australia - Outback (North)

37.3%

$363,750

Unit

Geraldton

Western Australia - Outback (South)

35.1%

$253,333

Unit

Broome

Western Australia - Outback (North)

31.0%

$380,000

Unit

Kalgoorlie

Western Australia - Outback (South)

26.2%

$252,500

Unit

South Hedland

Western Australia - Outback (North)

21.6%

$239,500

Unit

South Bunbury

Bunbury

18.9%

$327,000

Unit

Bunbury

Bunbury

10.3%

$361,250

Unit

West Busselton

Bunbury

7.0%

$397,500

Unit

Port Hedland

Western Australia - Outback (North)

2.0%

$343,138

Source: PropTrack. Price growth is measured as annual growth in median sales price, comparing Sept 2021-Aug 2022 to Sept 2020-Aug 2021.

Australian Capital Territory

The suburb of Red Hill topped the price surges in Canberra, with its median house sale price jumping 54% to $2.625 million.

Throsby's median house price rose more than 48% to $1.077 million, while the rest of the top 10 all recorded strong annual growth of more than 30%.

ACT house and pool
Picture: realestate.com.au/buy

Mr Moore said Canberra recorded relatively brisk growth in home prices during the pandemic.

"Prices there have clearly slowed. Over the past year it's up 7%, which is still stronger than Sydney and Melbourne, but it's not keeping pace with Brisbane and Adelaide."

Home prices in the ACT have lost 2.8% from their peak in March.

Australian Capital Territory highest price growth suburbs

Dwelling

Suburb

Region

Annual price growth

Suburb median price

House

Red Hill

Australian Capital Territory

54.0%

$2,625,000

House

Throsby

Australian Capital Territory

48.4%

$1,077,500

House

Duffy

Australian Capital Territory

39.3%

$1,200,000

House

Scullin

Australian Capital Territory

38.3%

$920,000

House

Downer

Australian Capital Territory

37.2%

$1,355,000

House

Mawson

Australian Capital Territory

36.1%

$1,381,500

House

Watson

Australian Capital Territory

35.3%

$1,192,500

House

Florey

Australian Capital Territory

34.8%

$984,000

House

Weston

Australian Capital Territory

33.3%

$1,080,000

House

Fisher

Australian Capital Territory

32.3%

$1,075,000

Unit

O'Connor

Australian Capital Territory

40.6%

$620,000

Unit

Campbell

Australian Capital Territory

36.8%

$889,500

Unit

Ngunnawal

Australian Capital Territory

28.0%

$640,000

Unit

Lawson

Australian Capital Territory

27.8%

$650,000

Unit

Watson

Australian Capital Territory

27.4%

$535,000

Unit

Moncrieff

Australian Capital Territory

24.4%

$713,000

Unit

Casey

Australian Capital Territory

24.0%

$620,000

Unit

Chifley

Australian Capital Territory

23.4%

$426,250

Unit

Wright

Australian Capital Territory

21.1%

$540,000

Unit

Phillip

Australian Capital Territory

20.2%

$465,000

Source: PropTrack. Price growth is measured as annual growth in median sales price, comparing Sept 2021-Aug 2022 to Sept 2020-Aug 2021.

Northern Territory

The waterside Darwin suburb of Nightcliff's 56.5% annual price growth ranked as one of the highest in Australia. Its median house price jumped to $1.029 million.

NT streets
Picture: realestate.com.au/sold

Neighbouring suburb Rapid Creek and the northern suburb of Muirhead both recorded annual price growth above 30%.

"We're seeing brisk growth in some of these areas," Mr Moore said.

Home prices in Darwin are up 5% over the past year, similar to the level of growth nationally.

"Prices there are holding up a little bit better than in Sydney and Melbourne, at least over the last year, but are certainly not keeping pace with places like Adelaide and Brisbane."

Greater Darwin highest price growth suburbs

Dwelling

Suburb

Region

Annual price growth

Suburb median price

House

Nightcliff

Darwin

56.5%

$1,029,000

House

Rapid Creek

Darwin

31.3%

$886,000

House

Muirhead

Darwin

30.4%

$730,000

House

Wagaman

Darwin

25.8%

$582,000

House

Gray

Darwin

25.7%

$440,000

House

Alawa

Darwin

15.5%

$566,000

House

Lyons

Darwin

15.0%

$747,500

House

Fannie Bay

Darwin

14.3%

$1,000,000

House

Wulagi

Darwin

12.8%

$550,000

House

Woodroffe

Darwin

12.5%

$450,000

Unit

Bakewell

Darwin

49.9%

$333,500

Unit

Millner

Darwin

23.2%

$305,000

Unit

Rapid Creek

Darwin

23.1%

$400,000

Unit

Fannie Bay

Darwin

16.3%

$500,000

Unit

Parap

Darwin

14.9%

$402,000

Unit

Leanyer

Darwin

9.9%

$330,000

Unit

Rosebery

Darwin

8.6%

$380,000

Unit

Coconut Grove

Darwin

7.8%

$345,000

Unit

Nightcliff

Darwin

4.5%

$410,000

Unit

Bayview

Darwin

2.5%

$520,000

Source: PropTrack. Price growth is measured as annual growth in median sales price, comparing Sept 2021-Aug 2022 to Sept 2020-Aug 2021.

Regional Northern Territory highest price growth suburbs

Dwelling

Suburb

Region

Annual price growth

Suburb median price

House

Dundee Beach

Northern Territory - Outback

35.9%

$278,500

House

Araluen

Northern Territory - Outback

13.4%

$572,500

House

Braitling

Northern Territory - Outback

8.8%

$515,000

House

Katherine East

Northern Territory - Outback

8.2%

$362,500

House

Gillen

Northern Territory - Outback

7.8%

$485,000

House

East Side

Northern Territory - Outback

6.3%

$550,000

Source: PropTrack. Price growth is measured as annual growth in median sales price, comparing Sept 2021-Aug 2022 to Sept 2020-Aug 2021.

 

This article was originally published on realestate.com.au ‘The 270 suburbs where home prices have surged over the past year’

 

 

 

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