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Australia's top growth suburbs of 2022

Profile photo of Andy Webb

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

SuburbRegionProperty typeAnnual growthMedian value
RichmondOuter West & Blue MtnsUnit8.6%$545,748
St Johns ParkSouth WestHouse8.4%$998,334
Ropes CrossingBlacktownUnit7.7%$586,445
WyongCentral CoastUnit7.0%$463,907
Bonnyrigg HeightsSouth WestHouse6.7%$944,069
BonnyriggSouth WestHouse6.6%$865,893
LeppingtonSouth WestHouse6.4%$1,117,206
LeuraOuter West & Blue MtnsUnit6.2%$603,493
Edensor ParkSouth WestHouse5.5%$1,083,607
AustralSouth WestHouse5.3%$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

SuburbRegionProperty typeAnnual growthMedian value
BingaraNew England & North WestHouse36.2%$279,257
GobbagombalinRiverinaHouse33.5%$766,285
LockhartRiverinaHouse33.3%$286,752
Forest HillRiverinaHouse30.4%$434,631
HardenCapital RegionHouse30.0%$346,130
KootingalNew England & North WestHouse28.4%$448,676
GundagaiRiverinaHouse28.4%$370,193
Glen InnesNew England & North WestHouse28.3%$322,336
AshmontRiverinaHouse28.2%$428,615
Mount AustinRiverinaHouse26.2%$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

SuburbRegionProperty typeAnnual growthMedian value
East MelbourneInnerUnit17.4%$816,908
SouthbankInnerUnit13.8%$576,097
West MelbourneInnerUnit13.2%$509,320
DocklandsInnerUnit11.0%$622,019
ParkvilleInnerUnit9.8%$545,475
Wyndham ValeWestUnit9.2%$482,726
CarltonInnerUnit9.0%$410,095
MelbourneInnerUnit8.8%$475,058
Hoppers CrossingWestUnit8.3%$440,337
Burwood EastInner EastUnit8.1%$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

SuburbRegionProperty typeAnnual growthMedian value
RochesterSheppartonHouse25.2%$425,975
SheppartonSheppartonUnit24.5%$327,627
EchucaSheppartonUnit20.7%$417,135
MooroopnaSheppartonUnit18.3%$282,125
KynetonBendigoHouse18.1%$948,996
BrightHumeHouse17.5%$1,145,664
ColacWarrnambool & South WestHouse17.3%$501,818
HorshamNorth WestUnit17.1%$312,632
St ArnaudNorth WestHouse16.7%$268,029
Lakes EntranceLatrobe - GippslandUnit16.4%$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

SuburbRegionProperty typeAnnual growthMedian value
YarrabilbaLogan - BeaudesertHouse24.4%$595,396
FernvaleIpswichHouse24.1%$540,989
KairabahLogan - BeaudesertHouse23.8%$623,951
Ellen GroveIpswichHouse22.7%$536,641
GleneagleLogan - BeaudesertHouse21.6%$670,489
KooralbynLogan - BeaudesertUnit21.6%$202,039
SpringwoodLogan - BeaudesertUnit21.6%$378,695
BoonahIpswichHouse21.5%$511,851
CalamvaleBrisbane - SouthUnit21.4%$497,595
EaglebyLogan - BeaudesertUnit21.2%$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

SuburbRegionProperty typeAnnual growthMedian value
Gin GinWide BayHouse33.5%$286,518
MilesDarling Downs/MaranoaHouse31.3%$209,569
Laguna QuaysMackay/Isaac/WhitsundayUnit30.9%$72,076
Rainbow BeachWide BayUnit29.1%$560,486
YarramanDarling Downs/MaranoaHouse29.0%$280,559
Port DouglasCairnsUnit29.0%$433,189
NanangoWide BayHouse28.1%$308,546
BlackbuttWide BayHouse28.0%$333,636
Bluewater ParkTownsvilleHouse27.7%$485,745
MulambinCentral QueenslandHouse27.6%$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

SuburbRegionProperty typeAnnual growthMedian value
Seacliff ParkSouthUnit41.4%$484,282
ParadiseCentral and HillsUnit35.7%$459,228
North PlymptonWestUnit35.2%$511,687
Davoren ParkNorthHouse34.7%$336,186
Elizabeth GroveNorthHouse33.3%$342,850
Elizabeth SouthNorthHouse33.0%$324,761
ElizabethNorthHouse33.0%$346,643
West BeachWestUnit32.0%$454,879
Salisbury NorthNorthUnit31.2%$335,019
PlymptonWestUnit30.2%$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

SuburbRegionProperty typeAnnual growthMedian value
CleveOutbackHouse35.3%$212,602
SolomontownBarossa/Yorke/Mid NorthHouse34.9%$188,924
Streaky BayOutbackHouse34.7%$351,181
Risdon ParkBarossa/Yorke/Mid NorthHouse33.3%$225,911
Port Pirie SouthBarossa/Yorke/Mid NorthHouse32.9%$229,212
Risdon Park SouthBarossa/Yorke/Mid NorthHouse32.4%$252,209
Port Pirie WestBarossa/Yorke/Mid NorthHouse31.7%$178,170
Port MacdonnellSouth EastHouse29.7%$384,364
KimbaOutbackHouse29.2%$133,975
KadinaMid NorthHouse27.9%$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

SuburbRegionProperty typeAnnual growthMedian value
Dudley ParkMandurahUnit19.7%$267,643
MandurahMandurahHouse15.3%$358,546
WaikikiPerth - South WestHouse14.3%$489,670
CoodanupMandurahHouse14.2%$411,588
CalistaPerth - South WestHouse14.0%$338,932
WarnbroPerth - South WestHouse13.7%$452,491
Dudley ParkMandurahHouse13.7%$477,150
MedinaPerth - South WestHouse13.5%$331,095
CooloongupPerth - South WestHouse13.4%$387,767
Safety BayPerth - South WestHouse12.7%$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

SuburbRegionProperty typeAnnual growthMedian value
KendenupWheat BeltHouse24.5%$268,360
KalgoorlieOutback (South)Unit24.1%$208,202
Kambalda EastOutback (South)House21.1%$118,525
KalbarriOutback (South)House20.4%$334,344
SomervilleOutback (South)Unit16.9%$257,912
CervantesWheat BeltHouse16.1%$378,342
DenhamOutback (South)House15.9%$327,926
Kambalda WestOutback (South)House15.3%$152,136
RangewayOutback (South)House15.2%$214,158
WithersBunburyHouse15.0%$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

SuburbRegionProperty typeAnnual growthMedian value
SandfordHobartHouse8.8%$1,213,733
BrightonHobartUnit7.4%$481,742
TaroonaHobartHouse6.7%$1,050,278
BrightonHobartHouse3.8%$587,995
Risdon ValeHobartHouse3.5%$466,100
HowrahHobartHouse3.0%$791,448
MorningtonHobartHouse2.9%$609,966
MargateHobartHouse1.9%$814,269
TranmereHobartHouse1.8%$1,001,781
KingstonHobartHouse1.5%$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

SuburbRegionProperty typeAnnual growthMedian value
EvandaleLaunceston & North EastHouse24.4%$585,199
StieglitzLaunceston & North EastHouse21.2%$548,487
St HelensLaunceston & North EastHouse18.7%$595,893
UlverstoneWest & North WestUnit16.5%$397,383
OrfordSouth EastHouse16.4%$664,670
PerthLaunceston & North EastHouse15.8%$635,785
George TownLaunceston & North EastHouse15.2%$380,149
ScamanderLaunceston & North EastHouse14.9%$560,621
HillcrestWest & North WestHouse13.5%$377,649
Shorewell ParkWest & North WestHouse13.3%$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

SuburbRegionProperty typeAnnual growthMedian value
ParapDarwinUnit23.3%$386,407
JohnstonDarwinHouse14.7%$667,719
WoodroffeDarwinHouse14.7%$471,188
GrayDarwinHouse14.7%$438,850
NightcliffDarwinHouse14.2%$919,048
The GardensDarwinUnit13.6%$501,128
Rapid CreekDarwinHouse11.8%$843,971
BellamackDarwinHouse11.6%$621,245
NakaraDarwinHouse10.8%$646,655
WagamanDarwinHouse10.7%$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

SuburbRegionProperty typeAnnual growthMedian value
HawkerACTUnit15.0%$494,668
PhillipACTUnit12.7%$482,456
CraceACTUnit11.7%$484,280
NgunnawalACTUnit11.1%$648,524
WrightACTUnit9.2%$528,382
LynehamACTUnit9.0%$533,792
CoombsACTHouse8.9%$1,017,551
WatsonACTUnit8.5%$578,340
O'ConnorACTUnit8.5%$555,909
MoncrieffACTUnit8.1%$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