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Australia's top growth suburbs of 2023

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Many leading economists predicted a major slump for Australian property prices in 2023. Instead, we saw home values rebound rapidly in markets all over the country. 

The year capped off with a new record high for Aussie home prices, and dozens of suburbs from every state delivered outstanding gains. 

Here are the standout growth suburbs of 2023 according to PropTrack data.

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  • Sydney and NSW

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  • Melbourne and Victoria

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  • Brisbane and Queensland

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  • Adelaide and South Australia

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  • Perth and Western Australia

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  • Tasmania, NT and ACT

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Thinking of selling your property?

On the whole, 2023 delivered some amazing growth for homeowners around Australia despite the high interest rate environment, as evidenced by the numbers above. 

It's key to consider, however, that if the median sale price in your suburb has jumped by +20 per cent, that doesn't necessarily mean that your home has grown +20 per cent in value. It may just reflect that more valuable homes have been sold in your market recently. 

Getting a more accurate understanding of how properties like yours are performing in your area will require some research. Look at how similar sold homes have performed in your area to get a better sense of where your property sits in the market. 

Making use of a free online estimation tool, getting a free property report, or speaking to a top local agent to get an appraisal are great ways to get a more tailored view of how your home should be valued in current local conditions.