Australia’s Top Performing Suburbs Revealed
- Posted By Amit Pall
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.
New South Wales
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
| Rank | Suburb | Median Value May 2018 | 10 Year Change |
|---|---|---|---|
| 1 | Strathfield | $3,015,932 | 172.6% |
| 2 | Eastwood | $2,007,936 | 165.2% |
| 3 | Burwood | $2,317,137 | 161.4% |
| 4 | Riverstone | $916,502 | 153.6% |
| 5 | Rydalmere | $1,283,477 | 153.5% |
| 6 | Ermington | $1,401,108 | 152.8% |
| 7 | Gladsville | $2,136,148 | 152.2% |
| 8 | Busby | $664,659 | 149.7% |
| 9 | West Ryde | $1,679,523 | 148.7% |
| 10 | Lidcombe | $1,218,803 | 143.6% |
Units
| Rank | Suburb | Median Value May 2018 | 10 Year Change |
|---|---|---|---|
| 1 | Rushcutters Bay | $802,981 | 180.0% |
| 2 | Warwick Farm | $454,546 | 176.6% |
| 3 | Campbelltown | $476,930 | 169.3% |
| 4 | Bondi Junction | $1,287,022 | 153.6% |
| 5 | Cabramatta | $465,293 | 150.2% |
| 6 | Macquarie Fields | $487,544 | 147.0% |
| 7 | Mascot | $897,822 | 144.5% |
| 8 | Darlinghurst | $983,037 | 143.9% |
| 9 | Lidcombe | $725,244 | 136.6% |
| 10 | Woolloomooloo | $1,063,743 | 135.1% |
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
| Rank | Suburb | Median Value May 2018 | 10 Year Change |
|---|---|---|---|
| 1 | Derrimut | $656,195 | 257.9% |
| 2 | Ashburton | $1,905,114 | 153.9% |
| 3 | Box Hill | $1,622,991 | 147.2% |
| 4 | Heathmont | $925,740 | 146.7% |
| 5 | Ardeer | $643,154 | 145.1% |
| 6 | Burnside Heights | $627,348 | 139.9% |
| 7 | Clifton Hill | $1,504,983 | 139.9% |
| 8 | McCrae | $903,430 | 138.9% |
| 9 | Keilor East | $877,089 | 136.2% |
| 10 | Box Hill South | $1,414,324 | 134.8% |
Units
| Rank | Suburb | Median Value May 2018 | 10 Year Change |
|---|---|---|---|
| 1 | Altona North | $655,491 | 164.0% |
| 2 | Bayswater North | $516,096 | 114.9% |
| 3 | Kilsyth | $560,986 | 109.3% |
| 4 | Bonbeach | $587,186 | 106.8% |
| 5 | Ferntree Gully | $587,186 | 106.8% |
| 6 | Montmorency | $723,044 | 105.4% |
| 7 | Altona | $642,750 | 103.8% |
| 8 | Lilydale | $515,700 | 103.4% |
| 9 | Ringwood East | $604,792 | 101.5% |
| 10 | Eltham | $693,311 | 101.3% |
Queensland
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
| Rank | Suburb | Median Value May 2018 | 10 Year Change |
|---|---|---|---|
| 1 | Underwood | $601,345 | 65.6% |
| 2 | Ashgrove | $1,019,808 | 53.4% |
| 3 | Sunnybank | $790,039 | 50.7% |
| 4 | Hawthorne | $1,274,810 | 49.6% |
| 5 | St Lucia | $1,146,060 | 46.9% |
| 6 | Fig Tree Pocket | $1,033,312 | 42.1% |
| 7 | Sunnybank Hills | $691,532 | 41.5% |
| 8 | Holland Park West | $750,949 | 41.4% |
| 9 | Holland Park | $681,499 | 41.4% |
| 10 | Paddington | $1,070,714 | 41.2% |
Units
| Rank | Suburb | Median Value May 2018 | 10 Year Change |
|---|---|---|---|
| 1 | Paradise Point | $576,240 | 44.0% |
| 2 | Benowa | $570,011 | 43.7% |
| 3 | East Tawoomba | $297,619 | 37.6% |
| 4 | Coolangatta | $549,296 | 32.4% |
| 5 | Woody Point | $471,758 | 28.4% |
| 6 | Palm Beach | $471,758 | 22.9% |
| 7 | Currumbin Waters | $410,835 | 22.6% |
| 8 | Broadbeach Waters | $524,556 | 21.8% |
| 9 | Tugun | $470,759 | 20.1% |
| 10 | Mermaid Waters | $400,689 | 18.6% |
South Australia
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
| Rank | Suburb | Median Value May 2018 | 10 Year Change |
|---|---|---|---|
| 1 | Grange | $732,554 | 49.4% |
| 2 | Brooklyn Park | $514,453 | 48.0% |
| 3 | Prospect | $715,272 | 47.1% |
| 4 | Holden Hill | $404,721 | 46.6% |
| 5 | Windsor Gardens | $471,721 | 46.6% |
| 6 | Campbelltown | $539,191 | 44.2% |
| 7 | West Croydon | $545,413 | 42.7% |
| 8 | Lockleys | $656,992 | 41.8% |
| 9 | Plympton | $581,916 | 40.1% |
| 10 | Tranmere | $681,830 | 39.1% |
Units
| Rank | Suburb | Median Value May 2018 | 10 Year Change |
|---|---|---|---|
| 1 | Norwood | $517,731 | 35.0% |
| 2 | Seaton | $321,850 | 31.0% |
| 3 | Magill | $369,877 | 26.6% |
| 4 | Glenelg East | $372,467 | 25.8% |
| 5 | Mitchell Park | $308,039 | 21.2% |
| 6 | Mount Gambier | $176,021 | 19.6% |
| 7 | Prospect | $332,430 | 19.3% |
| 8 | Port Lincoln | $257,282 | 18.7% |
| 9 | Glengowrie | $358,981 | 16.2% |
| 10 | Glenelg | $437,361 | 16.1% |
Australian Capital Territory
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
| Rank | Suburb | Median Value May 2018 | 10 Year Change |
|---|---|---|---|
| 1 | O’Connor | $1,059,701 | 70.8% |
| 2 | Downer | $880,643 | 60.7% |
| 3 | Narrabundah | $642,422 | 59.4% |
| 4 | Watson | $817,417 | 58.9% |
| 5 | Kaleen | $736,932 | 57.1% |
| 6 | Evatt | $625,902 | 47.9% |
| 7 | Holt | $551,054 | 42.7% |
| 8 | Curtin | $964,985 | 41.3% |
| 9 | Chisholm | $583,428 | 37.8% |
| 10 | Rivett | $605,443 | 37.7% |
Units
| Rank | Suburb | Median Value May 2018 | 10 Year Change |
|---|---|---|---|
| 1 | Mawson | $501,556 | 73.6% |
| 2 | City | $569,598 | 33.7% |
| 3 | Kingston | $537,757 | 24.0% |
| 4 | Griffith | $461,619 | 23.8% |
| 5 | Ngunnawal | $419,967 | 20.5% |
| 6 | Gordon | $404,248 | 15.4% |
| 7 | Braddon | $446,112 | 13.0% |
| 8 | Watson | $388,227 | 10.8% |
| 9 | Turner | $445,884 | 10.3% |
| 10 | Narrabundah | $476,645 | 9.4% |
Western Australia
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
| Rank | Suburb | Median Value May 2018 | 10 Year Change |
|---|---|---|---|
| 1 | Wattle Grove | $506,235 | 89.7% |
| 2 | Success | $514,263 | 83.7% |
| 3 | Tapping | $500,795 | 76.7% |
| 4 | Aubin Grove | $539,301 | 69.6% |
| 5 | Darch | $574,909 | 68.3% |
| 6 | Southern River | $507,163 | 62.1% |
| 7 | Madeley | $593,662 | 62.0% |
| 8 | Mckail | $386,368 | 61.8% |
| 9 | Bertram | $358,961 | 50.7% |
| 10 | Lakelands | $354,501 | 48.7% |
Units
| Rank | Suburb | Median Value May 2018 | 10 Year Change |
|---|---|---|---|
| 1 | West Leederville | $470,316 | 48.0% |
| 2 | Victoria Park | $434,650 | 25.0% |
| 3 | North Fremantle | $742,145 | 16.1% |
| 4 | Yokine | $403,891 | 14.7% |
| 5 | Fremantle | $516,062 | 14.7% |
| 6 | South Perth | $575,287 | 11.7% |
| 7 | Rockingham | $317,746 | 8.4% |
| 8 | Tuart Hill | $366,225 | 5.1% |
| 9 | Scarborough | $532,479 | 5.0% |
| 10 | Mount Lawley | $381,960 | 4.9% |
Source: theurbandeveloper.com
