- The 20 suburbs show signs of lower inventory and fewer days on the market
- This has been combined with rising asking prices over the past three months
- Most suburbs are outside the larger states of NSW and Victoria
A new report by Well Money (formerly Well Home Loans) has identified 20 locations across Australia where prices are expected to increase in the near future, despite declining house prices across most of Australia.
The 20 suburbs shown have strong signs of lower inventory, fewer days on the market and an increase in the asking prices over the next three months.
For the October quarter, 12 metro and eight regional locations are shown, with 14 houses and six unit markets. Notably, the majority of markets are outside Queensland, New South Wales and Victoria, with five in WA and six in South Australia.
Scott Spencer, Well Money CEO, noted that inventory levels have fallen in each of these markets.
“The reason inventory levels are such an important leading indicator is because they tell you what’s happening with the balance of power in a particular market,” he said.
“When inventory levels are falling, that means buying conditions are becoming harder, which forces buyers to compete harder and puts upward pressure on prices.
20 Australians suburbs set to record price rises during the next three months
| Rank | State | Suburb | Postcode | Type | Median asking price |
| 1 | WA | Burekup | 6227 | House | $511,110 |
| 2 | VIC | St Albans | 3021 | Unit | $518,160 |
| 3 | SA | Moonta | 5558 | House | $320,000 |
| 4 | SA | North Brighton | 5048 | House | $1,072,500 |
| 5 | SA | Glenelg | 5045 | House | $1,101,998 |
| 6 | NT | Johnston | 832 | House | $612,500 |
| 7 | NSW | Sunshine | 2264 | House | $930,000 |
| 8 | VIC | Junction Village | 3977 | House | $720,700 |
| 9 | WA | Wembley Downs | 6019 | House | $1,249,990 |
| 10 | NSW | Wyee | 2259 | House | $897,573 |
| 11 | QLD | Booval | 4304 | Unit | $249,000 |
| 12 | SA | Two Wells | 5501 | House | $486,000 |
| 13 | VIC | Cairnlea | 3023 | Unit | $430,260 |
| 14 | SA | Munno Para | 5115 | House | $384,500 |
| 15 | WA | Noranda | 6062 | Unit | $325,000 |
| 16 | WA | Binningup | 6233 | House | $415,000 |
| 17 | WA | Alkimos | 6038 | House | $459,430 |
| 18 | VIC | Waterways | 3195 | House | $1,540,800 |
| 19 | NSW | Brighton-Le-Sands | 2216 | Unit | $750,000 |
| 20 | SA | Henley Beach | 5022 | Unit | $492,900 |
“In all 20 of the suburbs, days on market have either remained unchanged over the past three months or fallen. When properties sell more quickly, that’s another sign of growing buyer competition,” continued Mr Spencer.
“When supply falls and demand rises, vendors take notice. As a result, in all but two of the 20 suburbs, vendors raised their asking prices over the quarter.
“That’s why the Well Money Green Shoots Report is such an insightful report. Instead of looking backwards, it uses in-depth property data analysis to forecast what’s likely to happen in the not-too-distant future.”
- The house market of Burekup (WA, 6227)
| Indicator | Jul-22 | Oct-22 | Change |
| Inventory level | 8.4 months | 3.6 months | -57.10% |
| Days on market | 59 days | 59 days | 0.00% |
| Median asking price | $495,030 | $511,110 | 3.20% |
2. The unit market of St Albans (VIC, 3021)
| Indicator | July 2022 | October 2022 | Change |
| Inventory level | 3.7 months | Under 1 month | N/A |
| Days on market | 56 days | 51 days | -8.9% |
| Median asking price | $499,950 | $518,160 | 3.6% |
- The house market of Moonta (SA, 5558)
| Indicator | July 2022 | October 2022 | Change |
| Inventory level | 8.8 months | 5.7 months | -35.7% |
| Days on market | 63 days | 51 days | -19.0% |
| Median asking price | $310,000 | $320,000 | 3.2% |
- The house market of North Brighton (SA, 5048)
| Indicator | July 2022 | October 2022 | Change |
| Inventory level | 5.8 months | 2.7 months | -52.6% |
| Days on market | 19 days | 19 days | 0.0% |
| Median asking price | $1,050,000 | $1,072,500 | 2.1% |
- The house market of Glenelg (SA, 5045)
| Indicator | July 2022 | October 2022 | Change |
| Inventory level | 6.8 months | 3.8 months | -44.4% |
| Days on market | 29 days | 27 days | -6.9% |
| Median asking price | $952,940 | $1,101,998 | 15.6% |
- The house market of Johnston (NT, 0832)
| Indicator | July 2022 | October 2022 | Change |
| Inventory level | 5.7 months | 2.8 months | -50.0% |
| Days on market | 66 days | 66 days | 0.0% |
| Median asking price | $629,000 | $612,500 | -2.6% |
- The house market of Sunshine (NSW, 2264)
| Indicator | July 2022 | October 2022 | Change |
| Inventory level | 5.7 months | 2.8 months | -50.1% |
| Days on market | 31 days | 31 days | 0.0% |
| Median asking price | $929,000 | $930,000 | 0.1% |
8.The house market of Junction Village (VIC, 3977)
| Indicator | July 2022 | October 2022 | Change |
| Inventory level | 7.6 months | 4.9 months | -35.7% |
| Days on market | 24 days | 22 days | -8.3% |
| Median asking price | $715,100 | $720,700 | 0.8% |
9. The house market of Wembley Downs (WA, 6019)
| Indicator | July 2022 | October 2022 | Change |
| Inventory level | 3.2 months | Under 1 month | N/A |
| Days on market | 50 days | 50 days | 0.0% |
| Median asking price | $1,212,000 | $1,249,990 | 3.1% |
10. The house market of Wyee (NSW, 2259)
| Indicator | July 2022 | October 2022 | Change |
| Inventory level | 7.2 months | 4.6 months | -35.3% |
| Days on market | 38 days | 28 days | -26.3% |
| Median asking price | $896,733 | $897,573 | 0.1% |
11. The unit market of Booval (QLD, 4304)
| Indicator | July 2022 | October 2022 | Change |
| Inventory level | 5.1 months | 2.5 months | -49.9% |
| Days on market | 53 days | 53 days | 0.0% |
| Median asking price | $239,000 | $249,000 | 4.2% |
- The house market of Two Wells (SA, 5501)
| Indicator | July 2022 | October 2022 | Change |
| Inventory level | 4.5 months | 2.0 months | -55.6% |
| Days on market | 40 days | 28 days | -30.0% |
| Median asking price | $460,080 | $486,000 | 5.6% |
- The unit market of Cairnlea (VIC, 3023)
| Indicator | July 2022 | October 2022 | Change |
| Inventory level | 8.3 months | 6.0 months | -27.3% |
| Days on market | 66 days | 59 days | -10.6% |
| Median asking price | $439,000 | $430,260 | -2.0% |
14. The house market of Munno Para (SA, 5115)
| Indicator | July 2022 | October 2022 | Change |
| Inventory level | 4.8 months | 2.6 months | -46.4% |
| Days on market | 35 days | 35 days | 0.0% |
| Median asking price | $363,200 | $384,500 | 5.9% |
15. The unit market of Noranda (WA, 6062)
| Indicator | July 2022 | October 2022 | Change |
| Inventory level | 6.0 months | 3.8 months | -36.3% |
| Days on market | 66 days | 66 days | 0.0% |
| Median asking price | $320,000 | $325,000 | 1.6% |
- The house market of Binningup (WA, 6233)
| Indicator | July 2022 | October 2022 | Change |
| Inventory level | 3.2 months | 1.2 months | -61.6% |
| Days on market | 55 days | 53 days | -3.6% |
| Median asking price | $399,000 | $415,000 | 4.0% |
- The house market of Alkimos (WA, 6038)
| Indicator | July 2022 | October 2022 | Change |
| Inventory level | 5.7 months | 3.8 months | -33.5% |
| Days on market | 52 days | 52 days | 0.0% |
| Median asking price | $444,075 | $459,430 | 3.5% |
- The house market of Waterways (VIC, 3195)
| Indicator | July 2022 | October 2022 | Change |
| Inventory level | 2.8 months | 1.0 months | -66.5% |
| Days on market | 29 days | 29 days | 0.0% |
| Median asking price | $1,513,600 | $1,540,800 | 1.8% |
- The unit market of Brighton-Le-Sands (NSW, 2216)
| Indicator | July 2022 | October 2022 | Change |
| Inventory level | 2.1 months | Under 1 month | N/A |
| Days on market | 24 days | 24 days | 0.0% |
| Median asking price | $728,000 | $750,000 | 3.0% |
- The unit market of Henley Beach (SA, 5022)
| Indicator | July 2022 | October 2022 | Change |
| Inventory level | 2.6 months | Under 1 month | N/A |
| Days on market | 32 days | 23 days | -28.1% |
| Median asking price | $485,000 | $492,900 | 1.6% |
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