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Australia’s Top Performing Suburbs Revealed


Despite recent house price weakness, Australia's property boom – which saw house prices in some areas of Sydney soar almost 90 per cent from 2010 – created windfall gains for some property owners.

Property researcher Corelogic has revealed the top growth suburbs over the past ten years in its Top Growth Suburbs Over the Past Decade report.

Derrimut, located 18 kilometres west of the Melbourne CBD, recorded the highest growth of any suburb nationally, increasing by 257.9 per cent from 2008 to 2018.

Derrimut's median house values rose from $183,352 to $656,19 over the ten year period, thanks in part to strong commuter links ensuring good access to the CBD, recreational and educational facilities and a multitude of green spaces and parks.

Units at Rushcutter’s Bay in Sydney recorded the second highest increase of 180 per cent, from $286,824 to $802,981.

Victorian units also saw significant growth with Altona North the standout recording a 164.0 per cent increase.

Queensland’s best performer was Underwood in Logan City, where house prices climbed 65 per cent, from $363,048 to $601,345.

All of Queensland’s top ten performing suburbs for houses were in the Brisbane main capital city region, but just one of the capital suburbs made the top ten list for units, which was completely dominated by The Gold Coast.

In South Australia, houses were the best performer - with Grange topping the list at 49.4 per cent growth in median value to reach $732,554, up from $490,309.

O’Conner and Downer were Canberra’s best performing suburbs with price growth of 70.8 and 60.7 per cent.

Houses in Perth’s suburb of Wattle Grove recorded the highest growth of 89.7 per cent to reach a median value of $506,235.

Related: Australia’s Most Searched Suburbs of 2018


New South Wales

Sydney's harbourside eastern suburb of Rushcutter's Bay has seen an increase in demand for units with median prices growing from $286,824 to $802,981 over the last ten years.
Rushcutters Bay


In New South Wales, all of the suburbs with the highest change in median value over 10 years were in the main capital city region – units in Rushcutters Bay and Warwick Farm took out the top two spots, while Strathfield came in third with the median value for houses climbing 172.6 per cent over the past decade.

Houses

RankSuburbMedian Value May 201810 Year Change
1Strathfield$3,015,932172.6%
2Eastwood$2,007,936165.2%
3Burwood$2,317,137161.4%
4Riverstone$916,502153.6%
5Rydalmere$1,283,477153.5%
6Ermington$1,401,108152.8%
7Gladsville$2,136,148152.2%
8Busby$664,659149.7%
9West Ryde$1,679,523148.7%
10Lidcombe$1,218,803143.6%


Units

RankSuburbMedian Value May 201810 Year Change
1Rushcutters Bay$802,981180.0%
2Warwick Farm$454,546176.6%
3Campbelltown$476,930169.3%
4Bondi Junction$1,287,022153.6%
5Cabramatta$465,293150.2%
6Macquarie Fields$487,544147.0%
7Mascot$897,822144.5%
8Darlinghurst$983,037143.9%
9Lidcombe$725,244136.6%
10Woolloomooloo$1,063,743135.1%


Victoria

Ashburton's property prices in southeast Melbourne have benefited from the suburbs proximity to the CBD and high street retail.
Ashburton


All of Victoria’s top house and unit suburbs were in the Melbourne capital city region, where Derrimut houses topped the list with the highest growth over ten years, while units in Altona North came in at second place.

Houses

RankSuburbMedian Value May 201810 Year Change
1Derrimut$656,195257.9%
2Ashburton$1,905,114153.9%
3Box Hill$1,622,991147.2%
4Heathmont$925,740146.7%
5Ardeer$643,154145.1%
6Burnside Heights$627,348139.9%
7Clifton Hill$1,504,983139.9%
8McCrae$903,430138.9%
9Keilor East$877,089136.2%
10Box Hill South$1,414,324134.8%


Units

RankSuburbMedian Value May 201810 Year Change
1Altona North$655,491164.0%
2Bayswater North$516,096114.9%
3Kilsyth$560,986109.3%
4Bonbeach$587,186106.8%
5Ferntree Gully$587,186106.8%
6Montmorency$723,044105.4%
7Altona$642,750103.8%
8Lilydale$515,700103.4%
9Ringwood East$604,792101.5%
10Eltham$693,311101.3%


Queensland

The suburb of Mermaid Waters has shown significant growth in the apartment market despite being known for picturesque houses and berths.
Mermaid Waters


All of the suburbs in the top house list were in the Brisbane main capital city region, while only one suburb in the capital region made the top 10 unit list, with the Gold Coast dominating the top growth for units over ten years.

Houses

RankSuburbMedian Value May 201810 Year Change
1Underwood$601,34565.6%
2Ashgrove$1,019,80853.4%
3Sunnybank$790,03950.7%
4Hawthorne$1,274,81049.6%
5St Lucia$1,146,06046.9%
6Fig Tree Pocket$1,033,31242.1%
7Sunnybank Hills$691,53241.5%
8Holland Park West$750,94941.4%
9Holland Park$681,49941.4%
10Paddington$1,070,71441.2%


Units

RankSuburbMedian Value May 201810 Year Change
1Paradise Point$576,24044.0%
2Benowa$570,01143.7%
3East Tawoomba$297,61937.6%
4Coolangatta$549,29632.4%
5Woody Point$471,75828.4%
6Palm Beach$471,75822.9%
7Currumbin Waters$410,83522.6%
8Broadbeach Waters$524,55621.8%
9Tugun$470,75920.1%
10Mermaid Waters$400,68918.6%


South Australia

Campbelltown, located 10 kms from the Adelaide's CBD, is known as a quiet suburb with good transportation links.
Campbelltown


In South Australia, houses saw the highest growth over ten years, with the suburb of Grange topping the list with a 49.4 per cent change in median value compared to it’s value in 2008.

Houses

RankSuburbMedian Value May 201810 Year Change
1Grange$732,55449.4%
2Brooklyn Park$514,45348.0%
3Prospect$715,27247.1%
4Holden Hill$404,72146.6%
5Windsor Gardens$471,72146.6%
6Campbelltown$539,19144.2%
7West Croydon$545,41342.7%
8Lockleys$656,99241.8%
9Plympton$581,91640.1%
10Tranmere$681,83039.1%


Units

RankSuburbMedian Value May 201810 Year Change
1Norwood$517,73135.0%
2Seaton$321,85031.0%
3Magill$369,87726.6%
4Glenelg East$372,46725.8%
5Mitchell Park$308,03921.2%
6Mount Gambier$176,02119.6%
7Prospect$332,43019.3%
8Port Lincoln$257,28218.7%
9Glengowrie$358,98116.2%
10Glenelg$437,36116.1%


Australian Capital Territory

Kingston, one of the oldest and most densely populated suburbs of Canberra, has now become a sought after apartment market.
Kingston


Units in Mawson recorded the highest change in value when compared with median values from 10 years prior, while houses in O’Connor came in at second place.

Houses

RankSuburbMedian Value May 201810 Year Change
1O'Connor$1,059,70170.8%
2Downer$880,64360.7%
3Narrabundah$642,42259.4%
4Watson$817,41758.9%
5Kaleen$736,93257.1%
6Evatt$625,90247.9%
7Holt$551,05442.7%
8Curtin$964,98541.3%
9Chisholm$583,42837.8%
10Rivett$605,44337.7%


Units

RankSuburbMedian Value May 201810 Year Change
1Mawson$501,55673.6%
2City$569,59833.7%
3Kingston$537,75724.0%
4Griffith$461,61923.8%
5Ngunnawal$419,96720.5%
6Gordon$404,24815.4%
7Braddon$446,11213.0%
8Watson$388,22710.8%
9Turner$445,88410.3%
10Narrabundah$476,6459.4%


Western Australia

Hip, buzzing and bohemian, Fremantle is often rated as one of the coolest towns in Australia with property prices reflecting its popularity.
Fremantle


Houses in the Perth suburb Wattle Grove recorded the highest growth in May 2018 compared to it’s median value in May 2008, followed closely by houses in Success, a suburb also located in the capital city.

Only two regional suburbs made the top list for houses only.

Houses

RankSuburbMedian Value May 201810 Year Change
1Wattle Grove$506,23589.7%
2Success$514,26383.7%
3Tapping$500,79576.7%
4Aubin Grove$539,30169.6%
5Darch$574,90968.3%
6Southern River$507,16362.1%
7Madeley$593,66262.0%
8Mckail$386,36861.8%
9Bertram$358,96150.7%
10Lakelands$354,50148.7%


Units

RankSuburbMedian Value May 201810 Year Change
1West Leederville$470,31648.0%
2Victoria Park$434,65025.0%
3North Fremantle$742,14516.1%
4Yokine$403,89114.7%
5Fremantle$516,06214.7%
6South Perth$575,28711.7%
7Rockingham$317,7468.4%
8Tuart Hill$366,2255.1%
9Scarborough$532,4795.0%
10Mount Lawley$381,9604.9%
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Article originally posted at: https://theurbandeveloper.com/articles/top-10-performing-suburbs-australia-wide