The 96 suburbs where house prices have doubled - or more - over the past five years
The 96 suburbs where house prices have doubled - or more - over the past five years
Shannon Molloy, News Editor – realestate.com.au
12 May 2022, 9:02am
New analysis has once again highlighted just how significant this latest property boom has been, with house prices more than doubling in 96 suburbs around Australia.
And in some areas, the rate of value growth has been much, much sharper than that.
PropTrack data reveals the suburbs where the median house price increased by 100% or more between March 2017 and March 2022, based on at least 30 sales in a 12-month period.
“The past couple years have been unusually strong for house price growth,” PropTrack economist Angus Moore said.
“The PropTrack Home Price Index shows that prices grew 23% in 2021 alone, and that is the third-fastest year of growth in 140 years."
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Sunshine Beach in Queensland saw its median house price explode by 191.6% over a five-year period, rising from $1.2 million in 2017 to $3.5 million as of March 2022.
It ranked as the country’s number one growth performer, driven by a significant imbalance between supply and demand.
Buyer demand across the Sunshine Coast has been intense, particularly over the past few years, sparked by the COVID-19 pandemic and strong interstate migration to the state’s southeast corner.
“Southeast Queensland has been a big beneficiary of the pandemic period, and the Gold and Sunshine Coasts especially,” Mr Moore said.
“We’ve seen a much larger than typical migration of people into the area, with many coming from Sydney and Melbourne.”
Another Sunshine Coast suburb, Sunrise Beach, also saw mammoth price growth, with its house median surging from $735,000 in 2017 to $1.75 million currently, up 138.1%.
The sought-after canal suburb of Minyama, about half an hour down the road, has seen its median house price jump by 131.2% to $2 million, up from $865,000 five years ago.
Meanwhile, Doonan, just outside Noosa, was another top performer, with its current median house price of $1.702 million rising 126.9% from $750,000 back in 2017.
As Mr Moore pointed out, the Gold Coast has also seen its market grow substantially in recent times, with the median house price in the suburb of Miami jumping 113.9%, from $694,000 in 2017 to $1.485 million now.
It's not just sea-change locations that have performed well, with regional towns also seeing property prices soar.
Other lifestyle-rich locations elsewhere in Australia also saw their real estate prospects boom, with Berridale in New South Wales coming in at second spot on the list of the biggest growth performers.
The Snowy River locale, positioned close to the famed ski resorts of Perisher and Thredbo, saw its median house price rise from $212,000 to $600,000, up 183%.
Nearby Jindabyne, another favourite spot with skiiers and snowboarders in the winter, has a current median house price of $1.405 million, up 167% from $525,000 five years ago.
“One of the big trends we’ve seen over the pandemic is that people have put more value on living near lifestyle locations – the beach or near national parks – and having more space,” Mr Moore said.
“At the same time, many people have been able to work remotely. That means we’ve seen a real shift out of the inner-city and towards regional areas that can offer these benefits.
“That’s driven a lot of demand for regional property, and we’ve seen prices in regional areas consistently outperform cities.”
The beach hotspot of Byron Bay, beloved by Hollywood stars, local surfers, wealthy Aussie holidaymakers, and local influencers, has seen its median house price grow by 147% to reach $3.09 million, up from $1.25 million five years ago.
Another coastal enclave to perform strongly was Copacabana on the NSW Central Coast, where the median house price of $1.92 million has risen 127% from $845,000.
Bundeena on the outskirts of Sydney’s south had a 108% increase in its median house price, from $887,500 to $1.825 million.
And the median house price in ritzy Palm Beach on the Northern Beaches of Sydney is up 118%, from $2.77 million in 2017 to $6.05 million currently.
Anglesea on the Surf Coast was one of just two suburbs in Victoria to make the top 10 list, with its median house price jumping by a mammoth 145%, from $652,000 to $1.6 million.
Cape Paterson on the Bass Coast came in at tenth spot, with a median house price increase of 143%, up from $370,000 five years ago to $903,000 currently.
In Greater Melbourne itself, Clyde North in the city’s southeast had a 109% increase in its median house price, up from $572,000 to $1.2 million.
It was the sole metropolitan suburb to appear in the list, with the remaining Victorian locations either on the Mornington Peninsula or in regional locations.
Of the 96 suburbs to see their median house prices increase by at least 100%, 27 were in NSW, 23 were in Victoria, and 13 were in Queensland.
“Many of the fastest growing suburbs, like Sunshine Beach, Byron Bay, and Anglesea are in areas that have really benefited from the sea- and tree-change trend over the pandemic,” Mr Moore said.
The full list
Suburb State Current median 2017 median % Growth
Sunshine Beach QLD $3,500,000 $1,200,000 191.67
Berridale NSW $600,000 $212,000 183.02
Jindabyne NSW $1,405,000 $525,000 167.62
Primrose Sands TAS $510,000 $200,000 155
Casuarina NSW $2,350,000 $950,000 147.37
Byron Bay NSW $3,090,500 $1,250,000 147.24
Risdon Vale TAS $445,000 $180,000 147.22
Queenstown TAS $160,000 $65,000 146.15
Anglesea VIC $1,600,000 $652,500 145.21
Cape Paterson VIC $903,425 $370,500 143.84
Bogangar NSW $1,450,000 $595,000 143.7
Venus Bay VIC $619,000 $257,000 140.86
Rokeby TAS $515,000 $215,000 139.53
Sunrise Beach QLD $1,750,000 $735,000 138.1
Gilberton SA $1,100,000 $465,000 136.56
North Wonthaggi VIC $605,000 $256,000 136.33
Portsea VIC $3,765,000 $1,625,000 131.69
George Town TAS $330,000 $142,500 131.58
Dodges Ferry TAS $652,000 $281,666 131.48
Minyama QLD $2,000,000 $865,000 131.21
Evans Head NSW $1,180,000 $512,500 130.24
St Andrews Beach VIC $1,806,500 $790,000 128.67
Copacabana NSW $1,920,000 $845,750 127.02
Doonan QLD $1,702,000 $750,000 126.93
Somers VIC $1,700,000 $750,000 126.67
Ventnor VIC $856,000 $383,000 123.5
Chigwell TAS $480,000 $215,000 123.26
West Launceston TAS $663,000 $297,500 122.86
Bridgewater TAS $392,750 $176,250 122.84
Port Fairy VIC $997,251 $448,750 122.23
Warana QLD $1,400,000 $630,000 122.22
Moranbah QLD $315,000 $142,810 120.57
St Leonards TAS $505,000 $229,500 120.04
Winchelsea VIC $660,000 $300,000 120
Mayfield TAS $335,000 $152,500 119.67
Tomakin NSW $900,000 $412,500 118.18
Mount Stuart TAS $1,082,500 $496,500 118.03
Palm Beach NSW $6,050,000 $2,775,000 118.02
Kings Meadows TAS $532,500 $245,000 117.35
Bicheno TAS $640,000 $295,000 116.95
Robinvale VIC $390,000 $180,000 116.67
Myrtleford VIC $560,750 $260,000 115.67
New Norfolk TAS $450,000 $209,000 115.31
Bangalow NSW $1,827,500 $850,000 115
Miami QLD $1,485,000 $694,000 113.98
Inverloch VIC $946,000 $442,500 113.79
Pottsville NSW $1,330,000 $623,000 113.48
Invermay TAS $480,000 $225,000 113.33
Bellerive TAS $965,000 $454,250 112.44
Dinner Plain VIC $810,000 $382,500 111.76
Bulli NSW $1,800,000 $850,500 111.64
Kingscliff NSW $1,805,000 $855,000 111.11
West Moonah TAS $735,000 $348,500 110.9
Millfield NSW $767,500 $365,000 110.27
Alexandra H’land QLD $2,050,000 $975,000 110.26
Marcoola QLD $1,250,000 $595,000 110.08
Kandos NSW $315,000 $150,000 110
Rye VIC $1,200,000 $572,000 109.79
Montrose TAS $647,000 $309,000 109.39
Cowes VIC $813,750 $389,000 109.19
South Kempsey NSW $377,000 $180,500 108.86
Lauderdale TAS $832,600 $399,000 108.67
Bundeena NSW $1,850,000 $887,500 108.45
Currumbin QLD $1,552,500 $745,000 108.39
Callala Beach NSW $1,280,000 $615,000 108.13
Palm Beach QLD $1,520,000 $730,500 108.08
Scottsdale TAS $370,000 $178,000 107.87
Mollymook Beach NSW $1,300,000 $627,000 107.34
Point Lonsdale VIC $1,450,000 $700,000 107.14
Clyde North VIC $701,750 $339,000 107.01
Mullumbimby NSW $1,350,000 $652,500 106.9
Claremont TAS $558,000 $270,000 106.67
Vincentia NSW $1,300,000 $629,500 106.51
Moonah TAS $650,000 $315,000 106.35
Glenorchy TAS $580,000 $282,000 105.67
Cape Woolamai VIC $792,500 $385,500 105.58
Dalmeny NSW $770,000 $375,000 105.33
Noosa Heads QLD $1,907,500 $930,000 105.11
Blairgowrie VIC $1,635,000 $797,500 105.02
Bright VIC $920,000 $450,000 104.44
Macmasters Beach NSW $2,145,000 $1,050,000 104.29
Callala Bay NSW $1,021,000 $500,000 104.2
Mowbray TAS $427,500 $210,000 103.57
Berriedale TAS $590,000 $290,000 103.45
South Launceston TAS $547,000 $270,000 102.59
Kingston TAS $749,995 $371,000 102.15
Geilston Bay TAS $751,750 $372,000 102.08
Mirboo North VIC $595,000 $295,000 101.69
Wonthaggi VIC $575,250 $285,500 101.49
Corinella VIC $755,000 $375,000 101.33
Lennox Head NSW $1,575,000 $782,500 101.28
Suffolk Park NSW $1,950,000 $969,000 101.24
Wamberal NSW $1,800,000 $895,000 101.12
Coolum Beach QLD $1,200,000 $598,000 100.67
Ravenswood TAS $301,000 $150,000 100.67
Pegs Creek WA $460,750 $230,000 100.33
Source: PropTrack