A new report from PropTrack listed suburbs across Australia that posted the most significant gains in median prices over the past five years.
According to PropTrack, some homeowners even won the “property lottery”, with gains as much as $1.1m in median home prices over the five-year period to April 2023.
Of all house markets, Bright in Victoria posted the highest five-year growth at 152% or equivalent to $775,000 to $1.29m.
Jindabyne in New South Wales came in next with 148% growth, bringing its median house price to $1.55m.
However, the biggest gain in dollar values was Kingscliff in New South Wales. During the period, its median house price increased $1.13m to reach $2m.
Across unit markets, Noosaville in Queensland recorded the biggest jump at 108% — median unit price in the suburb increased $485,000 to $935,000.
Closely following was also New South Wales’ Jindabyne, where units are being sold for a median price of $718,000, which is $368,000 or 105% more expensive than five years ago.
Sunshine Beach in Queensland witnessed the highest increase in median unit price in dollar terms, up $719,000 or 102% to $1.43m.
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House markets with biggest growth in median prices |
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|
Suburb |
GCCSA |
Median Price -April 2023 |
5-year change |
|
|
$ terms |
Growth (%) |
|||
|
Bright |
Rest of Vic. |
$1,285,000 |
$775,000 |
152% |
|
Jindabyne |
Rest of NSW |
$1,550,000 |
$925,000 |
148% |
|
Venus Bay |
Rest of Vic. |
$687,000 |
$392,000 |
133% |
|
Kingscliff |
Rest of NSW |
$2,000,000 |
$1,130,000 |
130% |
|
Bridgewater |
Greater Hobart |
$480,000 |
$270,000 |
129% |
|
East Devonport |
Rest of Tas. |
$440,000 |
$247,000 |
128% |
|
Trentham |
Rest of Vic. |
$1,260,000 |
$705,000 |
127% |
|
San Remo |
Rest of Vic. |
$1,150,000 |
$639,000 |
125% |
|
Teralba |
Rest of NSW |
$900,000 |
$500,000 |
125% |
|
Tocumwal |
Rest of NSW |
$600,000 |
$332,000 |
124% |
|
Unit markets with biggest growth in median prices |
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|
Suburb |
GCCSA |
Median Price -April 2023 |
5-year change |
|
|
|
$ terms |
Growth |
||
|
Noosaville |
Rest of Qld |
$935,000 |
$485,000 |
108% |
|
Jindabyne |
Rest of NSW |
$718,000 |
$368,000 |
105% |
|
Sunshine Beach |
Rest of Qld |
$1,425,000 |
$719,000 |
102% |
|
Coolum Beach |
Rest of Qld |
$785,000 |
$390,000 |
99% |
|
Prospect Vale |
Rest of Tas. |
$460,000 |
$220,000 |
92% |
|
Casuarina |
Rest of NSW |
$948,500 |
$453,500 |
92% |
|
Wendouree |
Rest of Vic. |
$377,250 |
$179,250 |
91% |
|
Marcoola |
Rest of Qld |
$695,000 |
$330,000 |
90% |
|
Wangaratta |
Rest of Vic. |
$356,000 |
$168,000 |
89% |
|
Claremont |
Greater Hobart |
$476,000 |
$224,000 |
89% |
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Photo by AngryBird on Canva.
