Suburbs with the highest price growth over the past 5 years revealed

By Samantha Thorne

As we face a recession and a once-in-a-hundred-year pandemic, there’s no doubt that consumer sentiment is taking a bit of a beating. However, in times like these, it’s important to maintain perspective. 

Value falls to date have been described as ‘mild’ by leading real estate data provider CoreLogic, and as an asset class, bricks and mortar have performed well during previous economic downturns. And while some suburbs will suffer, the fact is, others will do really well.

Investors are still watching the market with gusto, and with interest rates the lowest they’ve ever been in history, it’s not hard to see why.  

Investing in the right suburb

Some suburbs in Australia have achieved triple digit growth over the past five years

Historically, most investors have bought within a 15km radius of where they live, because it felt like a safe bet. But if you’re an investor that’s looking to find those suburbs with the most growth potential, then sometimes it pays to look a little outside your comfort zone. 

And it seems the tides are changing, especially in the face of Covid-19, with more investors looking for opportunities beyond the streets they know and love. According to recent research by MCG Quantity Surveyors, 30 percent of investors surveyed in May 2020 bought a property more than 200km away.

If you were looking for these hotspots, how do you find them? Buyer’s agent and author of Positively Geared, Lloyd Edge says that the most important factor to consider is an area that is desirable for both families and workers. 

Main indicators to look for when identifying growth suburbs: 

  • The presence of several different industries in the area (this ensures you are buying a property that has multiple opportunities for employment. Look for areas that have hospitals, schools, manufacturing, transport, retail, manufacturing, wholesale, construction).

  • Areas that have planned and approved development plans by the Local Council or the State Government. Look for new roads and transport (rail, ferry, bus, airport), new schools, new hospitals or hospital upgrades, University upgrades.

  • Increased Government spending in the area

  • Excellent transport links

  • Low local unemployment and increasing job prospects

  • Low rental vacancy rates

  • Access to good education and childcare facilities

Is this important to know for owner-occupiers too? Of course. Mr Edge says that for people looking to purchase in a particular area to live in, growth suburbs are important to ensure that the home you’re living in will increase in value in the future and create equity. 

“Ultimately, even if you’re not looking for an investment property, your home will be your biggest purchase and it is likely you will want to upgrade in the future for a family home , or downsize for retirement. When it comes to this stage, you want to have a property that has made some money over the years” he said.

"With Government incentives in place for buyers and historically low interest rates, now is an excellent time to buy and invest."

Mr Edge advises that with Government incentives in place for buyers and historically low interest rates, now is an excellent time to buy and invest. 

His picks? Areas close to amenities, major town centres and infrastructure. 

“I really like the growth areas of South Western Sydney and the area around the new Western Sydney airport as there is a lot of infrastructure and job growth there. Regionally, I am finding Lennox Head to the north and further north around Caloundra on the Sunshine coast to be areas with some legs.” 

As for the areas to avoid? Mr Edge suggests steering clear from areas that are solely driven by tourism such as the Gold coast or areas that are too reliant on resources such as Perth. 

With all that being said, here are the top suburbs in each state and territory that have had the highest price growth over the past 5 years.

 
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Top growth suburbs by state

New South Wales

Houses with the highest price growth in NSW 

1. Calderwood - 2527
  • Median sale price: $650k
  • 5-year growth: +184%
  • Region: Wollongong & Illawarra 
2. Wooli - 2462
  • Median sale price: $395k
  • 5-year growth: +138%
  • Region: Northern Rivers
3. Bringelly - 2556
  • Median sale price: $2.8m
  • 5-year growth: +124%
  • Region: Western Sydney

Units with the highest price growth in NSW

1. Winston Hills - 2153
  • Median sale price: $677k
  • 5-year growth: +170%
  • Region: Parramatta
2. Millers Point - 2000
  • Median sale price: $2.1m
  • 5-year growth: +101%
  • Region: Sydney City
3. Kirribilli - 2061
  • Median sale price: $1.4m
  • 5-year growth: +92%
  • Region: Lower North Shore

Read the latest Sydney and NSW market update

Victoria

Houses with the highest price growth in VIC

1. Cobblebank - 3338
  • Median sale price: $525k
  • 5-year growth: +237%
  • Region: West
2. Aintree - 3336
  • Median sale price: $635k
  • 5-year growth: +219%
  • Region: West
3. Weir Views - 3338
  • Median sale price: $511k
  • 5-year growth: +184%
  • Region: West

Units with the highest price growth in VIC

1. Grovedale - 3216
  • Median sale price: $435k
  • 5-year growth: +221%
  • Region: Geelong & District
2. Doreen - 3754
  • Median sale price: n/a
  • 5-year growth: +118%
  • Region: North East
3. Daylesford - 3460
  • Median sale price: n/a
  • 5-year growth: +108%
  • Region: Ballarat & Western District

Read the latest Melbourne and VIC market update

Queensland 

Houses with the highest price growth in QLD

1. Bilinga - 4225
  • Median sale price: $452k
  • 5-year growth: +104%
  • Region: Gold Coast
2. Carters Ridge - 4563
  • Median sale price: $302k
  • 5-year growth: +82%
  • Region: Sunshine Coast
3. Hope Island - 4212
  • Median sale price: $1.04m
  • 5-year growth: +80%
  • Region: Gold Coast

Units with the highest price growth in QLD

1. Nelly Bay - 4819
  • Median sale price: $467k
  • 5-year growth: +119%
  • Region: Townsville & District
2. Nossa Heads - 4567
  • Median sale price: $840k
  • 5-year growth: +102%
  • Region: Sunshine Coast
3. Rochedale - 4123
  • Median sale price: n/a
  • 5-year growth: +85%
  • Region: Logan

Read the latest Brisbane and QLD market update

Tasmania

Houses with the highest price growth in TAS

1. Dolphin Sands - 7190
  • Median sale price: $243k
  • 5-year growth: +140%
  • Region: East Coast
2. Zeehan - 7469
  • Median sale price: $134k
  • 5-year growth: +130%
  • Region: West Coast
3. Battery Point - 7004
  • Median sale price: $761k
  • 5-year growth: +124%

Units with the highest price growth in TAS

1. Claremont - 7011
  • Median sale price: $325k
  • 5-year growth: +78%
  • Region: Hobart & Southern
2. Lindisfarne - 7015
  • Median sale price: $540k
  • 5-year growth: +72%
  • Region: Hobart & Southern
3. New Town - 7008
  • Median sale price: $405k
  • 5-year growth: +70%
  • Region: Hobart & Southern

Read the latest Hobart and TAS market update

 

Australian Captial Territory 

Houses with the highest price growth in ACT

1. Coombs - 2611
  • Median sale price: $860k
  • 5-year growth: +119%
  • Region: Woden Valley
2. Lawson - 2617
  • Median sale price: $428k
  • 5-year growth: +90%
  • Region: Belconnen
3. Casey - 2913
  • Median sale price: $680k
  • 5-year growth: +62%
  • Region: Gungahlin

Units with the highest price growth in ACT

1. Scullin - 2614
  • Median sale price: $200k
  • 5-year growth: +66%
  • Region: Belconnen
2. Yarralumla - 2600
  • Median sale price: $525k
  • 5-year growth: +53%
  • Region: Inner South
3. Hawker - 2614
  • Median sale price: $275k
  • 5-year growth: +47%
  • Region: Belconnen

Read the latest Canberra and ACT market update

South Australia 

Houses with the highest price growth in SA

1. Crafers West - 5152
  • Median sale price: $975k
  • 5-year growth: +53%
  • Region: Adelaide Hills
2. Meadows - 5201
  • Median sale price: $425k
  • 5-year growth: +48%
  • Region: Adelaide Hills
3. Westbourne Park - 5041
  • Median sale price: $842k
  • 5-year growth: +47%
  • Region: South & South East

Units with the highest price growth in SA

1. Hectorville - 5073
  • Median sale price: $488k
  • 5-year growth: +78%
  • Region: Eastern Suburbs
2. Mile End - 5031
  • Median sale price: $410k
  • 5-year growth: +67%
  • Region: Western & Beachside Suburbs
3. Edwardstown - 5039
  • Median sale price: $237k
  • 5-year growth: +40%
  • Region: South & South East

Read the latest Adelaide and SA market update

Western Australia

Houses with the highest price growth in WA

1. Herne Hill - 6056
  • Median sale price: $403k
  • 5-year growth: +89%
  • Region: Eastern Suburbs
2. Dalwallinu - 6609
  • Median sale price: $230k
  • 5-year growth: +84%
  • Region: North
3. North Dandalup - 6207
  • Median sale price: $355k
  • 5-year growth: +50%
  • Region: Southern Suburbs

Units with the highest price growth in WA

1. Mount Pleasant - 6153
  • Median sale price: $880k
  • 5-year growth: +23%
  • Region: Southern Suburbs
2. North Beach - 6020
  • Median sale price: n/a
  • 5-year growth: +20%
  • Region: Northern Suburbs
3. Wannanup - 6210
  • Median sale price: $420k
  • 5-year growth: +19%
  • Region: Mundurah & surrounds

Read the latest Perth and WA market update

Northern Territory

Houses with the highest price growth in NT

1. Johnston - 832
  • Median sale price: $460k
  • 5-year growth: +90%
  • Region: Darwin area
2. Zuccoli - 832
  • Median sale price: $425k
  • 5-year growth: +71%
  • Region: Darwin area
3. Desert Springs - 870
  • Median sale price: $235k
  • 5-year growth: +5%
  • Region: Alice Springs
 
 

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