- 11 of the 20 suburbs are located among the capital cities
- Asking prices range from $300,000 to just under $900,000
- Queensland suburbs represent the top three
Analysis has revealed 20 suburbs, most of which are in metro locations, that are likely to grow strongly in 2022.
The latest edition of the Well Home Loans Green Shoots Report ranked the suburbs based on decreases of both inventory levels and days on the market while recording an increase in asking prices over the past three months.
While the report shows a diverse range of suburbs, Well Home Loans CEO Scott Spencer noted that most of the suburbs are reasonably affordable.
“The top twenty list includes eleven metro locations and nine regional locations scattered around seven states and territories. Of the twenty locations, eighteen are house markets and two are unit markets,” he said.
“The Well Home Loans Green Shoots Report doesn’t actively search for affordable locations, but, in a nice coincidence, most of the suburbs on this list would be accessible to the average family, with asking prices ranging from less than $300,000 to just under $900,000.”
Mr Spencer added the standout feature of the report is the emphasis it places on lending indicators, which are more future oriented compared to lagging indicators that focus on the past.
“The key leading indicators are inventory levels and days on market, which tell you about the balance between supply and demand,” he explained.
“When those two indicators are falling, it means buying conditions are becoming harder, which suggests prices are likely to rise in the months and even years ahead.”
All bar two of the top twenty suburbs are housing markets, with eleven of the suburbs across the metro markets. All the states and the Northern Territory have at least two suburbs on the list.
Top 20 Australian suburbs to watch in 2022
| Suburb | State | Type | Price | |
| 1 | Deebing Heights | QLD | House | $425,000 |
| 2 | Springfield | QLD | House | $536,000 |
| 3 | Jimboomba | QLD | House | $457,000 |
| 4 | Davoren Park | SA | House | $285,000 |
| 5 | Huntly | VIC | House | $402,000 |
| 6 | Morphettville | SA | House | $588,000 |
| 7 | Melton South | VIC | House | $470,000 |
| 8 | Gawler East | SA | House | $390,000 |
| 9 | Wilton | NSW | House | $815,000 |
| 10 | Denham Court | NSW | House | $845,000 |
| 11 | Como | WA | House | $899,000 |
| 12 | Alkimos | WA | House | $410,000 |
| 13 | Uralla | NSW | House | $375,000 |
| 14 | Caversham | WA | House | $475,000 |
| 15 | Darwin City | NT | Unit | $426,000 |
| 16 | Cranbourne East | VIC | House | $556,000 |
| 17 | Farrar | NT | House | $585,000 |
| 18 | Ambleside | TAS | House | $535,000 |
| 19 | Sorell | TAS | Unit | $410,000 |
| 20 | Moil | NT | House | $529,000 |
Queensland dominates the top three spots with Deebing Heights ranked at number one. The Ipswich suburb has seen a sharp 72.3% fall in inventory levels over the past three months with a 15% decline in days on the market.
Postcode 4306 (inc Deebing Heights)
[Select part of the chart to zoom in on various years, and ‘reset zoom’ button to return]
SQM Research data shows asking prices have been steadily rising over the past year.
Second-placed Springfield saw inventory levels fall by 67.2% with an even larger 23.5% decline in the number of days on the market.
All bar two of the top twenty suburbs are housing markets, with eleven of the suburbs across the metro markets. All the states and the Northern Territory have at least two suburbs on the list.
In conclusion, Mr Spencer reiterated the report is just one piece of the puzzle and shouldn’t be relied upon solely when researching an area to live in.
“Also, before you start attending open homes, it’s generally a good idea to get a
pre-approval first, whether from Well Home Loans or a mortgage broker.” he added
“That way, you’ll know what your budget is and you’ll be able to move fast if you find your dream home.”
