Property Investment - 15 May, 2019

Which Australian suburbs are experiencing the highest price growth?

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From January 2018 to January 2019, these Australian suburbs experienced a surge of growth in sale price.

Whether you’re looking for some city living, a beachside property or a spacious rural estate, the top ten offers both entry-level and up-market homes. Here were the booming suburbs in descending order.

1. Leabrook, South Australia

Median sale price: $1,875,000

Annual growth: 86.4%

Topping the list is the South Australian state of Leabrook. With an 86.4% growth in sale price, this suburb is significantly ahead of its competitors.

The area is known for its family-friendly vibe and its abundance of green spaces. With a balance between city living (only 15 minutes from the CBD) yet quiet atmosphere, it makes for a good ambience.

2. Muirhead, Northern Territory

Median sale price: $617,500

Annual growth: 49.7%

Muirhead is both suburban and off-the-grid. It’s one of Darwin’s newest suburbs and is sprawling with developments.

Among them is the Breeze Muirhead, a residential community which was given an esteemed award for its impressive rating in sustainability. Muirhead is emerging as a hotspot for both families and modern designs.

3. Garfield, Victoria

Median sale price: $537,500

Annual growth: 42.4%

Found in the Gippsland region – surrounded by farmland, mountains and lakes – the area offers a desirable lifestyle for those who love a mix of country and city living. In just over an hour, Garfield residents can be in Melbourne’s CBD.

4. Pontville, Tasmania

Median sale price: $535,000

Annual growth: 41.7%

With entry-level prices and just half an hour from Hobart, this little town by the river is gaining attention. Historically, it was a notable stop on the road between Launceston and Hobart.

5. Unley Park, South Australia

Median sale price: $2,165,000

Annual change: 41%

Unlike a number of suburbs on this list experiencing growth from a boost in residential development, Unley Park is a well-established Adelaide suburb in the inner city. The suburb was recently named the state’s richest postcode and fittingly, the median house price just surpassed the $2 million mark.

6. Clyde North, Victoria

Median sale price: $592,000

Annual growth: 41%

Affordable housing, new properties and infrastructure are making this Victorian suburb desirable to families and first home buyers. As the plans for development keep rising, we expect the growth will too.

7. Queenscliff, New South Wales

Median sale price: $3,545,000

Annual growth: 37.9%

The Northern Sydney suburb offering enviable views and a beachside lifestyle had a strong year, with a 37.9% growth. With demand exceeding supply, it has become one of Australia’s most sought after and exclusive suburbs.

8. Middle Swan, Western Australia

Median sale price: $425,250

Annual growth: 35.2%

This riverside suburb is good for anyone searching for a large block of land with development potential. Just a half hour from Perth CBD, the luxury of space in Middle Swan means that wineries and vineyards are also located nearby – another inviting feature.

9. Burswood, WA

Median sale price: $975,000

Annual growth: 34.7%

This developing entertainment area is home to Perth’s Crown Casino, a new stadium, high-end boutiques, a fine dining scene, live comedy and theatre. And, despite this recent boom in food and entertainment, there are still some older spacious blocks of land available at different selling points.

10. Empire Bay, NSW

Median sale price: $940,000

Annual growth: 34.3%

Whether you’re a retiree, looking for a change of pace or investing in a holiday home, Empire Bay is where they seem to be ending up. With a 34.3% growth last year, the Central Coast suburb takes spot number ten.

Words by Michelle Elias

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