The standout growth suburbs of 2022 so far
Unlike the madness we saw throughout last year, the property market headlines in 2022 have been littered with talk of growth slowing, stagnating or even reversing.
While that may be the case in some locations, there are still hundreds of suburbs scattered all around Australia where median house prices have soared more than $100,000 in the first three months of the year alone.
Here we highlight some of the surprising suburbs that have delivered outstanding house price growth for 2022 so far.
Sydney & New South Wales
While a number of regional NSW markets have continued to steam ahead, one of the big stories to unfold in 2022 has been the halting of price growth in Sydney.
As it turns out, though, not every suburb has seen things wind back.
State Suburb Area Median house
price Q4 2021Median house
price Q1 2022$ Change % Change NSW Picton Southern Highlands $937,500 $1,550,000 $612,500 65.33% NSW Glenning Valley Central Coast $1,162,500 $1,790,000 $627,500 53.98% NSW Mollymook Beach Shoalhaven $1,210,500 $1,715,000 $504,500 41.68% NSW Glenhaven Hills District $2,176,000 $2,960,000 $784,000 36.03% NSW Bonnyrigg Heights Western Sydney $975,000 $1,324,000 $349,000 35.79% NSW Blackbutt Wollongong & Illawarra $932,000 $1,250,000 $318,000 34.12% NSW Haberfield Inner West $2,261,000 $2,977,500 $716,500 31.69% NSW Oatlands Northern Suburbs $1,975,000 $2,532,500 $557,500 28.23% NSW Melonba Western Sydney $942,500 $1,200,000 $257,500 27.32% NSW Lawson Blue Mountains $785,000 $993,907 $208,907 26.61% In Metropolitan Sydney, Glenhaven in the Hills district surged another +36 per cent. Bonnyrigg Heights and Melonba were a couple of standouts in Western Sydney, and Haberfield in the Inner West also saw rises of more than +30 per cent.
Many of the state's top performers do happen to be regional locations.
Picton house prices have soared by more than +65 per cent in the first quarter of this year. Glenning Valley, Mollymook Beach, Blackbutt and Lawson have also recorded massive levels of growth.
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Melbourne & Victoria
Looking at the state as a whole, Victoria seems to have returned somewhat unremarkable results so far in 2022.
When you zoom in a different story unfolds, with dozens of suburbs registering median house price increases of over $100,000 in just the first three months of the year.
State Suburb Area Median house
price Q4 2021Median house
price Q1 2022$ Change % Change VIC Yarrawonga North Eastern $550,000 $850,000 $300,000 54.55% VIC Numurkah Shepparton & Central North $310,000 $420,000 $110,000 35.48% VIC Coronet Bay Phillip Island & District $515,000 $665,000 $150,000 29.13% VIC Launching Place Yarra-Dandenong Ranges $718,000 $910,000 $192,000 26.74% VIC Portarlington Geelong & District $910,000 $1,135,000 $225,000 24.73% VIC Chelsea Bayside $940,000 $1,135,000 $195,000 20.74% VIC South Melbourne Inner City $1,735,000 $2,080,000 $345,000 19.88% VIC Mont Albert North East $1,600,000 $1,917,500 $317,500 19.84% VIC Aintree North West $735,000 $870,000 $135,000 18.37% VIC Ivanhoe North $1,733,500 $2,020,000 $286,500 16.53% Regional areas have delivered the most dramatic results, with Yarrawonga in the state's northeast clocking a +54 per cent rise in values. Other locales from all over Victoria like Numurkah, Coronet Bay and Geelong's Portarlington also turned in major jumps.
Within Greater Melbourne, the Bayside suburb of Chelsea was one of the top performers, with South Melbourne, Mont Albert North and Aintree also experiencing gains around the +20 per cent mark.
Brisbane & Queensland
As the top-performing state over the past six months, it's no surprise that there have been close to 80 Queensland suburbs where house prices have risen by more than $100,000 in the first quarter of 2022.
Whether it's regional or metropolitan areas, the state's South East has been the major hotspot for growth.
State Suburb Area Median house
price Q4 2021Median house
price Q1 2022$ Change % Change QLD Hamilton City & North $1,386,000 $2,247,500 $861,500 62.16% QLD Buddina Sunshine Coast $1,403,500 $2,000,000 $596,500 42.50% QLD Woodford Moreton Bay $510,000 $725,000 $215,000 42.16% QLD Ormeau Hills Gold Coast $655,000 $925,000 $270,000 41.22% QLD Enoggera City & North $1,000,000 $1,405,000 $405,000 40.50% QLD Mooloolaba Sunshine Coast $1,007,500 $1,387,500 $380,000 37.72% QLD Seven Hills Inner South $1,400,000 $1,880,000 $480,000 34.29% QLD Bahrs Scrub Logan $562,500 $745,000 $182,500 32.44% QLD Kenmore West $1,000,000 $1,291,000 $291,000 29.10% QLD Burleigh Heads Gold Coast $1,290,000 $1,657,500 $367,500 28.49% In Brisbane, house prices in the riverside Hamilton soared above +62 per cent in the three month period. Enoggera, Seven Hills and Kenmore also hit massive new highs.
Buddina and Mooloolaba on the Sunshine Coast exemplified the region's huge demand while Ormeau Hills and Burleigh Heads delivered stellar growth for the Gold Coast.
Even rural Woodford was one of the state's biggest movers with gains of more than +42 per cent.
Adelaide & South Australia
South Australia has followed closely in Queensland's footsteps recently, bringing consistent and substantial house price growth over the first three months of the year.
While locations outside of the capital posted strong figures, it was Adelaide that shone the brightest.
State Suburb Area Median house
price Q4 2021Median house
price Q1 2022$ Change % Change SA Clarence Gardens South & South East $838,000 $1,250,000 $412,000 49.16% SA Port Willunga Fleurieu Peninsula $535,000 $770,000 $235,000 43.93% SA Glenunga Eastern Suburbs $1,136,666 $1,630,500 $493,834 43.45% SA Fullarton Eastern Suburbs $961,000 $1,377,500 $416,500 43.34% SA Torrens Park South & South East $1,050,000 $1,497,750 $447,750 42.64% SA St Clair Western & Beachside $677,500 $935,500 $258,000 38.08% SA Angle Vale North & North East $474,000 $645,000 $171,000 36.08% SA Morphettville Western & Beachside $502,812 $680,000 $177,188 35.24% SA Tranmere Eastern Suburbs $681,000 $912,500 $231,500 33.99% SA Stirling Adelaide Hills $1,061,000 $1,400,000 $339,000 31.95% Clarence Gardens in Adelaide's south hit nearly +50 per cent growth for the quarter, with nearby Torrens Park following not far behind.
Eastern suburbs Glenunga and Fullarton were big movers, as were St Clair and Morphettville in the west.
Port Willunga on the city's rural fringe turned in gains of almost +44 per cent, while Stirling in the Adelaide Hills delivered one of the strongest regional performances for the period.
Perth & Western Australia
After growth more or less came to a halt in Western Australia mid-way through last year, the state has started to experience some movement in the upward direction once more.
State Suburb Area Median house
price Q4 2021Median house
price Q1 2022$ Change % Change WA Forrestdale Southern Suburbs $312,000 $477,500 $165,500 53.04% WA Lower King South $445,000 $657,500 $212,500 47.75% WA Lathlain Southern Suburbs $765,000 $1,119,000 $354,000 46.27% WA Bull Creek Southern Suburbs $770,000 $1,010,000 $240,000 31.17% WA Two Rocks North $371,500 $485,000 $113,500 30.55% WA Mira Mar South $530,000 $675,000 $145,000 27.36% WA Dunsborough Busselton-Dunsborough $755,000 $960,000 $205,000 27.15% WA Subiaco Western Suburbs $1,427,500 $1,792,500 $365,000 25.57% WA Edgewater Northern Suburbs $595,000 $745,000 $150,000 25.21% WA Jindalee Northern Suburbs $535,000 $649,500 $114,500 21.40% Some of the southern suburbs of Perth have performed exceptionally well this year. In Forrestdale, the median house price shot up +53 per cent over the first quarter of this year, with Lathlain and Bull Creek also delivering huge results.
Subiaco in the city's west also registered gains of more than +25 per cent, and Edgewater and Jindalee in the north both comfortably broke the +20 per cent barrier.
Looking regionally, Lower King and Mira Mar in the state's south were standout suburbs for growth, as was Two Rocks up north.
Hobart & Tasmania
2021 was an incredible year for price growth in Tasmania, and the gains haven't stopped so far this year.
State Suburb Area Median house
price Q4 2021Median house
price Q1 2022$ Change % Change TAS Bellerive Hobart & Southern $870,000 $1,200,000 $330,000 37.93% TAS Huonville Hobart & Southern $531,111 $680,000 $148,889 28.03% TAS St Helens East Coast $493,500 $615,000 $121,500 24.62% TAS Wynyard Burnie Devonport & NW $420,000 $520,000 $100,000 23.81% TAS Norwood Launceston & Northern $576,500 $710,000 $133,500 23.16% Five suburbs across the state saw median house prices rise by more than $100,000 in the first quarter of 2022 alone.
Bellerive in Hobart and Huonville further south were the standout growth spots for Tasmania.
Elsewhere around the island, St Helens, Wynyard and Norwood all broke through +20 per cent growth over the quarter.
Canberra & Australian Capital Territory
After a bit of a stumbling block in February, the ACT has continued down a path of solid growth to finish up the first quarter of the year.
State Suburb Area Median house
price Q4 2021Median house
price Q1 2022$ Change % Change ACT Florey Belconnen $899,000 $1,183,000 $284,000 31.59% ACT Conder Tuggeranong $820,000 $1,010,000 $190,000 23.17% ACT Richardson Tuggeranong $757,000 $880,000 $123,000 16.25% ACT Amaroo Gungahlin $935,000 $1,085,000 $150,000 16.04% ACT Casey Gungahlin $900,000 $1,042,000 $142,000 15.78% Florey in Belconnen had the biggest gains for 2022 so far, with the median house price soaring by more than +30 per cent.
Conder and Richardson in Tuggeranong also saw major increases for the three month period, and Amaroo and Casey in Gungahlin comfortably breached the $100,000 growth mark.
As the data shows, there are plenty of locations in every state that have continued to turn in remarkable levels of growth in 2022.
With interest rates tipped to rise within months and new listings increasing all the time, though, the number of suburbs experiencing gains of that magnitude may begin to dwindle as the year goes on.
While there's no knowing for sure what the future holds, sellers considering listing at some point in 2022 may be best positioned to do so sooner rather than later.
Getting a free estimation of your home's value and speaking with a top local agent to understand current and future market conditions in your suburb are two of the best ways to start the process on the right footing.
