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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

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."

What could your home be worth in five years?

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

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