ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Australia’s Best Performing Suburbs for Houses and Units

3b4e0c3a-2440-4730-8f48-7033eff8039a

Australia’s top suburbs for house and unit price growth has been identified, thanks to new data from Domain showcasing which areas across the country recorded double digit growth amid the nation’s housing market slump.

Lower interest rates, improved access to credit and the subsequent boost in market confidence are the key drivers supporting the turnaround in housing conditions.

Domain Economist Trent Wiltshire confirmed the property market is turning.

“Lots of indicators point towards Sydney and Melbourne price falls either ending or being very close to the bottom,” Wiltshere told The Urban Developer.

“But we don’t think it’s going to be a big bounce, or a huge turnaround in prices, we’re forecasting modest price growth later this year and into 2020.”

So which suburbs recorded the top growth over the year?

The data ranks Mount Pleasant in Ballarat Victoria as recording the largest median house price growth in Australia for the 12-months to June.

While established blue-chip suburb Chelmer in Brisbane’s west ranked in second place recording 25.2 per cent median house price growth for the period.

As for the unit market, Queensland’s Noosa Heads came in at first place recording 24.8 per cent growth for the year to June and a median price sitting of $830,000.

In the prestige housing market, Sydney’s exclusive Vaucluse recorded a noticeable 19.9 per cent increase for the year, despite the downward trend in values seen in the major capital city.

With borrowing capacities recently increasing thanks to lower mortgage rates, Corelogic’s Tim Lawless says many existing owners may “increasingly be looking to upgrade into more expensive homes”.

“Despite value declines across the board, more expensive housing stock has generally recorded greater declines which may be offering homeowners the opportunity to upgrade into a more expensive property despite the recent value declines.”

Related: The Suburbs Cheaper To Buy Property Than Rent

Noosa Heads
Noosa Heads on the Sunshine Coast ranked at the top of Domain's findings for units.


While regional markets remain affordable in comparison to capital city markets, their presence in both of Domain’s top suburb lists is noticeable for both house and unit year-on-year growth.

Latest PRDnationwide research says regional markets have recorded positive capital growth throughout the housing market slump.

Regional markets also fared better than capital city and metropolitan markets in the first half of 2019, recording an increase in median house price of 1.7 per cent in the past 12 months according to PRDnationwide.

“There is a higher resilience in regional markets due to increasing infrastructure development, more affordable housing prices and big businesses moving their head offices to regional areas,” PRDnationwide national research manager Asti Mardiasmo said.


Top Performing Suburbs: Houses

StateSuburbMedian PriceYoY IncreaseRegion
VICMount Pleasant$366,00026.2%Country
QLDChelmer$1,290,00025.2%Brisbane West
SAWallaroo$295,00025.0%Country West
VICWonthaggi$365,00021.7%Country
TASEast Devonport$237,00020.6%Mersey Lyell
SANorth Adelaide$961,00020.1%Adelaide Metro East
NSWUrunga$540,00020.0%NSW Country
NSWTemora$292,00019.9%NSW Country
NSWVaucluse$6,000,00019.9%City and East
QLDMount Pleasant$405,25019.2%Qld Rural
NSWTumut$315,00018.9%NSW Country
VICWoodend$777,00018.6%Country
QLDCranbrook$260,00018.2%Townsville
VICLucas$425,00018.1%Country
SAAldgate$860,00017.8%Adelaide Metro East

Top Performing Suburbs: Units

StateSuburbMedian PriceYoY IncreaseRegion
QLDNoosa Heads$830,00024.8%Sunshine Coast
VICBlackburn$603,16824.4%Outer East
QLDBroadbeach Waters$545,00019.8%Gold Coast Central
WAClaremont$652,50019.2%City
QLDStones Corner$515,00018.4%Brisbane West
ACTCampbell$637,50018.1%Canberra Central
NSWFairy Meadow$565,00017.8%Wollongong
SANorwood$592,50017.3%Adelaide Metro East
NSWKirrawee$756,00017.2%South
NSWElizabeth Bay$1,100,00017.0%City and East
NSWWoollahra$1,300,00016.6%City and East
QLDCoombabah$442,00016.3%Gold Coast North
QLDRunaway Bay$552,00015.0%Gold Coast North
ACTPhillip$375,00014.4%Woden Valley
ADVERTISEMENT
TOP STORIES
CONTRIBUTE TO THE CONVERSATION
Show Comments
advertise with us
The Urban Developer is Australia’s largest, most engaged and fastest growing community of property developers and urban development professionals. Connect your business with business and reach out to our partnerships team today.
Article originally posted at: https://theurbandeveloper.com/articles/australias-best-performing-suburbs-houses-and-units