Let's meet the top property performers in each state over the past twelve months, according to the latest data from CoreLogic.
New South Wales
The top five performers in NSW all recorded more than 100% growth. At the higher end of the range is Rosehill, 23km west of Sydney, which saw a 168.82% growth to a median sales prices of $2,500,000. With a more accessible property price, the second highest performer is Euston, located in southern NSW, where median house prices are $280,000 and the suburb enjoyed growth of 110.53%.
Other stars include Adaminaby near the Snowy Mountains (106.25%), Hargraves in the Central West (104.76%) and Ulmarra on the Clarence River (100%).
Victoria's top five performers have a median sale price of under $242,000 and experienced more modest growth than their NSW neighbours. Leading the charge is Sea Lake, North Western Victoria, with a median house price of $110,000, and growth of 57.14%.
In Penshurst in the gorgeous Grampians at the foot of Mount Rouse, property prices jumped by 57.14%, bringing the median sale price to $165,000. Following up is Elmore north-east of Bendigo (51.72%), Lockington in northern Victoria (46.05%) and finally Dimboola in the Wimmera region of western Victoria (45%)
Upper Brookfield, 16km west of Brisbane, is QLD’s stand-out suburb for growth, experiencing 80.18% growth to bring the median sales price to $1,500,000.
At the other end of pricing is the suburb of Cloncurry in QLD’s North West where growth was 65.91% but the median house price an accessible $182,500. Ilkley showed the next highest level of growth at 57.84%, followed by South Brisbane (50.99%) and Spring Mountain (49.14%).
Australian Capital Territory
In the ACT the star performer is by far Throsby on the NSW/ACT border, with growth of 82.86%, bringing the median house price to $736,000. Another impressive performer was Phillip (52.31%) followed by more modest but still impressive growth in the areas of Kingston (33.33%), Stirling (25.36%) and Cook (20.77%).
While South Australia had strong growth across several suburbs, Leabrook (87.23%) and Coober Pedy (54.64%), and Western Australia's Narembeen (84.21%) and South Boulder (78.57%) showed impressive results.
The Northern Territory demonstrated more modest median price changes, with an 8.91% increase for its growth leader suburb Zuccoli. Tasmania showed steady growth across a range of suburbs, with the top five suburbs, including Gravelly Beach and Cooee, experiencing growth of more than 31%.
The winning qualities
Take a closer look at these suburbs and towns, and you will find reasons why they have out-performed their neighbours. Some areas may be experiencing housing stock shortages, with not enough properties to meet demand, while others may have experienced wins for the local economy, providing a boost to the local jobs market. Others may be enjoying infrastructure growth, gentrification or urban renewal or be sought after locations for international investors.
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