Australia's top growth suburbs of 2022
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If you look at the Australian property market through a macro lens, last year was, broadly speaking, a difficult one.
There are always markets within markets, though, and if you zoom in to the suburb level, every capital city and state had standout locations where prices surged even further.
CoreLogic's Best Of The Best 2022 report took a look at which suburbs defied the downturn and delivered stellar results to sellers over the past 12 months. Did your suburb make the cut?
Sydney and regional New South Wales
Sydney was the first city to see prices dip into negative growth in 2022 and since struggled in the face of aggressive interest rate hikes.
Despite this, there was no shortage of suburbs where prices ended the year significantly above their 2022 starting point.
Greater Sydney top growth suburbs of 2022
| Suburb | Region | Property type | Annual growth | Median value |
|---|---|---|---|---|
| Richmond | Outer West & Blue Mtns | Unit | 8.6% | $545,748 |
| St Johns Park | South West | House | 8.4% | $998,334 |
| Ropes Crossing | Blacktown | Unit | 7.7% | $586,445 |
| Wyong | Central Coast | Unit | 7.0% | $463,907 |
| Bonnyrigg Heights | South West | House | 6.7% | $944,069 |
| Bonnyrigg | South West | House | 6.6% | $865,893 |
| Leppington | South West | House | 6.4% | $1,117,206 |
| Leura | Outer West & Blue Mtns | Unit | 6.2% | $603,493 |
| Edensor Park | South West | House | 5.5% | $1,083,607 |
| Austral | South West | House | 5.3% | $968,617 |
The more affordable segment of the market has performed best, and that can be seen in the report's results.
The top 10 for 2022 included locations away from the city centre and suburbs that offered homes below Greater Sydney's median prices, with units proving especially resilient.
Regional NSW saw many areas return more boom-level growth.
Regional NSW top growth suburbs of 2022
| Suburb | Region | Property type | Annual growth | Median value |
|---|---|---|---|---|
| Bingara | New England & North West | House | 36.2% | $279,257 |
| Gobbagombalin | Riverina | House | 33.5% | $766,285 |
| Lockhart | Riverina | House | 33.3% | $286,752 |
| Forest Hill | Riverina | House | 30.4% | $434,631 |
| Harden | Capital Region | House | 30.0% | $346,130 |
| Kootingal | New England & North West | House | 28.4% | $448,676 |
| Gundagai | Riverina | House | 28.4% | $370,193 |
| Glen Innes | New England & North West | House | 28.3% | $322,336 |
| Ashmont | Riverina | House | 28.2% | $428,615 |
| Mount Austin | Riverina | House | 26.2% | $424,564 |
Again these were generally found in less expensive areas of the state where rising rates presented less of a concern.
Note: The above is based on CoreLogic's hedonic home value index data, comparing median prices from 30 November 2022 to 12 months prior.
Melbourne and regional Victoria
Like Sydney, Melbourne dominated the negative property headlines of 2022 as prices in the Victorian capital began to sag early in the year.
The gloominess certainly didn't hit every market, though, and a number of previously struggling areas actually saw significant growth.
Greater Melbourne top growth suburbs of 2022
| Suburb | Region | Property type | Annual growth | Median value |
|---|---|---|---|---|
| East Melbourne | Inner | Unit | 17.4% | $816,908 |
| Southbank | Inner | Unit | 13.8% | $576,097 |
| West Melbourne | Inner | Unit | 13.2% | $509,320 |
| Docklands | Inner | Unit | 11.0% | $622,019 |
| Parkville | Inner | Unit | 9.8% | $545,475 |
| Wyndham Vale | West | Unit | 9.2% | $482,726 |
| Carlton | Inner | Unit | 9.0% | $410,095 |
| Melbourne | Inner | Unit | 8.8% | $475,058 |
| Hoppers Crossing | West | Unit | 8.3% | $440,337 |
| Burwood East | Inner East | Unit | 8.1% | $735,846 |
Inner-city units did especially well over the year despite the broader downturn, with East Melbourne apartments surging more than +17 per cent.
Although they didn't make the top ten list, houses in more than a dozen suburbs in Melbourne's west saw median prices grow over 2022.
Regional Victoria also demonstrated some real resilience.
Regional VIC top growth suburbs of 2022
| Suburb | Region | Property type | Annual growth | Median value |
|---|---|---|---|---|
| Rochester | Shepparton | House | 25.2% | $425,975 |
| Shepparton | Shepparton | Unit | 24.5% | $327,627 |
| Echuca | Shepparton | Unit | 20.7% | $417,135 |
| Mooroopna | Shepparton | Unit | 18.3% | $282,125 |
| Kyneton | Bendigo | House | 18.1% | $948,996 |
| Bright | Hume | House | 17.5% | $1,145,664 |
| Colac | Warrnambool & South West | House | 17.3% | $501,818 |
| Horsham | North West | Unit | 17.1% | $312,632 |
| St Arnaud | North West | House | 16.7% | $268,029 |
| Lakes Entrance | Latrobe - Gippsland | Unit | 16.4% | $358,523 |
Spots around Shepparton in the state's north came out on top for the year, but there were suburbs all over Victoria that comfortably breached the +15 per cent barrier over 2022.
Note: The above is based on CoreLogic's hedonic home value index data, comparing median prices from 30 November 2022 to 12 months prior.
Brisbane and regional Queensland
While Sydney and Melbourne led the downturn last year, Brisbane enjoyed an extended boom period before prices finally began to reverse in July.
The declines seen since then weren't enough to stop plenty of locations chalking up massive annual gains.
Greater Brisbane top growth suburbs of 2022
| Suburb | Region | Property type | Annual growth | Median value |
|---|---|---|---|---|
| Yarrabilba | Logan - Beaudesert | House | 24.4% | $595,396 |
| Fernvale | Ipswich | House | 24.1% | $540,989 |
| Kairabah | Logan - Beaudesert | House | 23.8% | $623,951 |
| Ellen Grove | Ipswich | House | 22.7% | $536,641 |
| Gleneagle | Logan - Beaudesert | House | 21.6% | $670,489 |
| Kooralbyn | Logan - Beaudesert | Unit | 21.6% | $202,039 |
| Springwood | Logan - Beaudesert | Unit | 21.6% | $378,695 |
| Boonah | Ipswich | House | 21.5% | $511,851 |
| Calamvale | Brisbane - South | Unit | 21.4% | $497,595 |
| Eagleby | Logan - Beaudesert | Unit | 21.2% | $324,243 |
As it turned out, Greater Brisbane's satellite cities like Logan and Ipswich rose to the top, with houses in Yarrabilba and Fernvale coming close to +25 per cent growth for the year.
Units across the city also performed well in 2022 as superior affordability sheltered them from the impacts of interest rate hikes.
Looking regionally, there were plenty of winners over the 12-month period, and it was far from being isolated to just South East Queensland.
Regional QLD top growth suburbs of 2022
| Suburb | Region | Property type | Annual growth | Median value |
|---|---|---|---|---|
| Gin Gin | Wide Bay | House | 33.5% | $286,518 |
| Miles | Darling Downs/Maranoa | House | 31.3% | $209,569 |
| Laguna Quays | Mackay/Isaac/Whitsunday | Unit | 30.9% | $72,076 |
| Rainbow Beach | Wide Bay | Unit | 29.1% | $560,486 |
| Yarraman | Darling Downs/Maranoa | House | 29.0% | $280,559 |
| Port Douglas | Cairns | Unit | 29.0% | $433,189 |
| Nanango | Wide Bay | House | 28.1% | $308,546 |
| Blackbutt | Wide Bay | House | 28.0% | $333,636 |
| Bluewater Park | Townsville | House | 27.7% | $485,745 |
| Mulambin | Central Queensland | House | 27.6% | $702,201 |
From Wide Bay up to Cairns and even away from the coast, regional suburbs across the state delivered huge growth upwards of +30 per cent.
Note: The above is based on CoreLogic's hedonic home value index data, comparing median prices from 30 November 2022 to 12 months prior.
Adelaide and regional South Australia
While Eastern Australia had its fair share of property market troubles in 2022, South Australia looked unstoppable and never really ran into the kind of declines seen elsewhere.
Adelaide homes continued to power ahead, with the city delivering another boom of its own over the course of the year.
Greater Adelaide top growth suburbs of 2022
| Suburb | Region | Property type | Annual growth | Median value |
|---|---|---|---|---|
| Seacliff Park | South | Unit | 41.4% | $484,282 |
| Paradise | Central and Hills | Unit | 35.7% | $459,228 |
| North Plympton | West | Unit | 35.2% | $511,687 |
| Davoren Park | North | House | 34.7% | $336,186 |
| Elizabeth Grove | North | House | 33.3% | $342,850 |
| Elizabeth South | North | House | 33.0% | $324,761 |
| Elizabeth | North | House | 33.0% | $346,643 |
| West Beach | West | Unit | 32.0% | $454,879 |
| Salisbury North | North | Unit | 31.2% | $335,019 |
| Plympton | West | Unit | 30.2% | $391,709 |
While few suburbs would have ended 2022 with lower values than the previous year, at least 10 locations were up more than +30 per cent in the 12-month period.
Units performed particularly well all over the city, while houses around Elizabeth in Adelaide's north dominated the rankings.
Regional South Australia also had its fair share of big winners.
Regional SA top growth suburbs of 2022
| Suburb | Region | Property type | Annual growth | Median value |
|---|---|---|---|---|
| Cleve | Outback | House | 35.3% | $212,602 |
| Solomontown | Barossa/Yorke/Mid North | House | 34.9% | $188,924 |
| Streaky Bay | Outback | House | 34.7% | $351,181 |
| Risdon Park | Barossa/Yorke/Mid North | House | 33.3% | $225,911 |
| Port Pirie South | Barossa/Yorke/Mid North | House | 32.9% | $229,212 |
| Risdon Park South | Barossa/Yorke/Mid North | House | 32.4% | $252,209 |
| Port Pirie West | Barossa/Yorke/Mid North | House | 31.7% | $178,170 |
| Port Macdonnell | South East | House | 29.7% | $384,364 |
| Kimba | Outback | House | 29.2% | $133,975 |
| Kadina | Mid North | House | 27.9% | $317,220 |
The bulk of the top 10 were found around the Barossa and Mid North region, all pushing past +30 per cent annual gains.
Note: The above is based on CoreLogic's hedonic home value index data, comparing median prices from 30 November 2022 to 12 months prior.
Perth and regional Western Australia
Western Australia had a steadier year than most other states in 2022, mostly flattening mid-way through the year rather than experiencing heavy declines like the eastern states.
Median values in Perth ended the year with +3.6 per cent annual growth overall, but there were plenty of star performers well exceeding that level.
Greater Perth top growth suburbs of 2022
| Suburb | Region | Property type | Annual growth | Median value |
|---|---|---|---|---|
| Dudley Park | Mandurah | Unit | 19.7% | $267,643 |
| Mandurah | Mandurah | House | 15.3% | $358,546 |
| Waikiki | Perth - South West | House | 14.3% | $489,670 |
| Coodanup | Mandurah | House | 14.2% | $411,588 |
| Calista | Perth - South West | House | 14.0% | $338,932 |
| Warnbro | Perth - South West | House | 13.7% | $452,491 |
| Dudley Park | Mandurah | House | 13.7% | $477,150 |
| Medina | Perth - South West | House | 13.5% | $331,095 |
| Cooloongup | Perth - South West | House | 13.4% | $387,767 |
| Safety Bay | Perth - South West | House | 12.7% | $524,307 |
The top 10 movers were all towards the southern tip of the city and moving into Mandurah, an area that represents superior affordability in Greater Perth.
Away from the capital, it was generally the Outback regions that delivered standout results for the year.
Regional WA top growth suburbs of 2022
| Suburb | Region | Property type | Annual growth | Median value |
|---|---|---|---|---|
| Kendenup | Wheat Belt | House | 24.5% | $268,360 |
| Kalgoorlie | Outback (South) | Unit | 24.1% | $208,202 |
| Kambalda East | Outback (South) | House | 21.1% | $118,525 |
| Kalbarri | Outback (South) | House | 20.4% | $334,344 |
| Somerville | Outback (South) | Unit | 16.9% | $257,912 |
| Cervantes | Wheat Belt | House | 16.1% | $378,342 |
| Denham | Outback (South) | House | 15.9% | $327,926 |
| Kambalda West | Outback (South) | House | 15.3% | $152,136 |
| Rangeway | Outback (South) | House | 15.2% | $214,158 |
| Withers | Bunbury | House | 15.0% | $288,596 |
The one exception was Withers in coastal Bunbury where prices still shot up +15 per cent.
Note: The above is based on CoreLogic's hedonic home value index data, comparing median prices from 30 November 2022 to 12 months prior.
Hobart and regional Tasmania
Hobart fast became one of the 2021 boom's key hotspots, and there was little surprise when prices eased right back the following year as affordability began to bite.
Even so, there were a number of standout locations that saw strong growth in 2022.
Greater Hobart top growth suburbs of 2022
| Suburb | Region | Property type | Annual growth | Median value |
|---|---|---|---|---|
| Sandford | Hobart | House | 8.8% | $1,213,733 |
| Brighton | Hobart | Unit | 7.4% | $481,742 |
| Taroona | Hobart | House | 6.7% | $1,050,278 |
| Brighton | Hobart | House | 3.8% | $587,995 |
| Risdon Vale | Hobart | House | 3.5% | $466,100 |
| Howrah | Hobart | House | 3.0% | $791,448 |
| Mornington | Hobart | House | 2.9% | $609,966 |
| Margate | Hobart | House | 1.9% | $814,269 |
| Tranmere | Hobart | House | 1.8% | $1,001,781 |
| Kingston | Hobart | House | 1.5% | $770,551 |
Houses in Sandford topped the list of biggest movers last year, with prices soaring close to +9 per cent to more than $1.2 million.
Taroona and Tranmere also saw house prices rise above $1 million, while units in Brighton got a healthy +7.4 per cent bump.
Regional Tasmania saw a range of suburbs jumping up to double digit annual growth.
Regional Tasmania top growth suburbs of 2022
| Suburb | Region | Property type | Annual growth | Median value |
|---|---|---|---|---|
| Evandale | Launceston & North East | House | 24.4% | $585,199 |
| Stieglitz | Launceston & North East | House | 21.2% | $548,487 |
| St Helens | Launceston & North East | House | 18.7% | $595,893 |
| Ulverstone | West & North West | Unit | 16.5% | $397,383 |
| Orford | South East | House | 16.4% | $664,670 |
| Perth | Launceston & North East | House | 15.8% | $635,785 |
| George Town | Launceston & North East | House | 15.2% | $380,149 |
| Scamander | Launceston & North East | House | 14.9% | $560,621 |
| Hillcrest | West & North West | House | 13.5% | $377,649 |
| Shorewell Park | West & North West | House | 13.3% | $373,022 |
The Launceston area performed best, with houses in Evandale and Stieglitz both growing more than +20 per cent, with plenty more spots eclipsing +10 per cent gains.
Note: The above is based on CoreLogic's hedonic home value index data, comparing median prices from 30 November 2022 to 12 months prior.
Northern Territory and Australian Capital Territory
Like Perth, Darwin property didn't necessarily follow the national trend in 2022, resulting in a number of suburbs that delivered strong growth.
Darwin top growth suburbs of 2022
| Suburb | Region | Property type | Annual growth | Median value |
|---|---|---|---|---|
| Parap | Darwin | Unit | 23.3% | $386,407 |
| Johnston | Darwin | House | 14.7% | $667,719 |
| Woodroffe | Darwin | House | 14.7% | $471,188 |
| Gray | Darwin | House | 14.7% | $438,850 |
| Nightcliff | Darwin | House | 14.2% | $919,048 |
| The Gardens | Darwin | Unit | 13.6% | $501,128 |
| Rapid Creek | Darwin | House | 11.8% | $843,971 |
| Bellamack | Darwin | House | 11.6% | $621,245 |
| Nakara | Darwin | House | 10.8% | $646,655 |
| Wagaman | Darwin | House | 10.7% | $543,410 |
Units in Parap were hotly in demand, gaining +23.3 per cent annually, while the rest of the city's top ten enjoyed double-digit growth for the year.
The ACT had a harder time in the face of interest rate hikes, although the nation's capital still had its fair share of healthy risers.
ACT top growth suburbs of 2022
| Suburb | Region | Property type | Annual growth | Median value |
|---|---|---|---|---|
| Hawker | ACT | Unit | 15.0% | $494,668 |
| Phillip | ACT | Unit | 12.7% | $482,456 |
| Crace | ACT | Unit | 11.7% | $484,280 |
| Ngunnawal | ACT | Unit | 11.1% | $648,524 |
| Wright | ACT | Unit | 9.2% | $528,382 |
| Lyneham | ACT | Unit | 9.0% | $533,792 |
| Coombs | ACT | House | 8.9% | $1,017,551 |
| Watson | ACT | Unit | 8.5% | $578,340 |
| O'Connor | ACT | Unit | 8.5% | $555,909 |
| Moncrieff | ACT | Unit | 8.1% | $696,352 |
Given attached housing offers superior affordability, it's no surprise that units dominated the 2022 list, with Hawker up the top at +15 per cent growth for the year.
Note: The above is based on CoreLogic's hedonic home value index data, comparing median prices from 30 November 2022 to 12 months prior.
1. CoreLogic, 'Best of the Best Report 2022', December 2022
https://www.corelogic.com.au/news-research/reports/best-of-the-best
