Australia’s Top Performing Suburbs Revealed

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.


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.

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%

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

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

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

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

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

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

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

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

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

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

 
 
 

Want to be financially independent?

Fill in your contact details and we’ll email you a complimentary copy of our guide on Creating a profitable investment property portfolio.


No, thank you
2019 - 2021 | Koala Invest , All Rights Reserved | Privacy Policy | Disclaimer. Powered by Eagle Software