Top 20 suburbs where house prices are rising

Most reports and indicators suggest the real estate market is cooling
Some are bucking the trend and the latest top 20 list includes 15 house and five unit markets across 12 metro locations and eight regional locations
Nine suburbs are in Western Australia, six in New South Wales, four in Queensland, and one in Victoria

As the market begins to cool and buying property seems less of a Sysiphian task, which suburbs are bucking the market slowing trends?

So far this year, we’ve heard from Well Money about which suburbs to invest in, along with reports from BuyersBuyers and ME Bank reports, with the various metrics all throwing up a cornucopia of different suburbs to keep an eye on.

Earlier in the year, top 20 suburbs to start a family tended to sit a little further away from the CBD, with a comparison to last year’s figures here.

Last year, the suburbs poised for growth included a mix of houses and units around the country.

Top 10 suburbs poised for price growth

Rank	State/Territory	Suburb	Postcode	Type	Price
1	NT	Mount Johns	0874	House	$680,000
2	NSW	Oxley Park	2670	Unit	$559,000
3	QLD	Rainbow Beach	4581	Unit	$299,000
4	NSW	Elermore Vale	2287	Unit	$494,390
5	SA	Glenelg	5045	Unit	$485,000
6	SA	Hackham	5163	House	$370,800
7	WA	Rockingham	6168	Unit	$318,000
8	WA	Madeley	6065	House	$581,400
9	SA	North Haven	5018	House	$555,000
10	QLD	Wynnum	4178	Unit	$534,600

Source: Well Money.

In May this year, suburbs set for price growth changed substantially, with more details here.

Top 20 Australian suburbs where prices are set to grow

Rank	State	Suburb	Postcode	Type	Median asking price
1	VIC	Campbells Creek	3451	House	$659,000
2	QLD	Corinda	4075	House	$1,208,340
3	NSW	Albion Park Rail	2527	House	$772,500
4	NSW	Tuncurry	2428	House	$705,000
5	NSW	Lithgow	2790	House	$429,000
6	NSW	Albion Park	2527	House	$821,600
7	NSW	Smithfield	2164	Unit	$691,200
8	SA	Greenwith	5125	House	$545,000
9	NSW	Rylstone	2849	House	$480,000
10	TAS	Gagebrook	7030	House	$320,000
11	WA	Chidlow	6556	House	$649,000
12	NSW	Calderwood	2527	House	$949,000
13	QLD	Enoggera	4051	House	$1,025,000
14	SA	Glenunga	5064	House	$1,400,000
15	VIC	Cranbourne North	3977	Unit	$490,000
16	NSW	Wangi Wangi	2267	House	$897,600
17	SA	Golden Grove	5125	House	$575,000
18	ACT	Banks	2906	House	$779,100
19	NSW	Woodrising	2284	House	$663,000
20	VIC	Cranbourne East	3977	Unit	$504,720

Source: Well Money.

The latest

The Property Tribune reported earlier this year that the Australian property boom appears to be cooling off.

Coming with the territory, negotiations have also been more difficult, with The Property Tribune also reporting that negotiations have become increasingly difficult as sellers continued to expect inflated prices despite prices having already peaked.

But of course, there is always an exception.

The research commissioned Well Money looks quarterly into the top 20 suburbs in Australia that are showing the clearest signs that strong price growth is just around the corner.

The 20 suburbs chosen always show the strongest combination of inventory levels decreasing over the past three months, days on market decreasing over the past three months and asking prices increasing over the past three months.

The latest top 20 list includes 15 house and five unit markets across 12 metro locations and eight regional locations. Nine suburbs are in Western Australia, six in New South Wales, four in Queensland, and one in Victoria.

“In every one of these suburbs, inventory levels and days on market have fallen over the past three months, which means conditions have moved in favour of sellers,” said Well Money CEO Scott Spencer.

“As a result, vendors have increased asking prices in all but two of the suburbs, despite the fact the market is cooling in many parts of the country.

“That shows you that Australia is not one big housing market. There are actually hundreds of different markets spread around the eight states and territories.

“Last year, most of them were experiencing price increases; now, many of them are experiencing price reductions. However, the suburbs in this report look set to grow in coming months. That’s because demand is currently higher than supply, which means buyers are being forced to compete hard. That sort of competitive tension is likely to generate increases in selling prices.”

Mr Spencer also noted the report used leading indicators to look ahead.

“When inventory levels are falling in a location, that’s a clear sign the pendulum is moving in the direction of vendors, because stock levels are declining,” he said.

“When days on market are falling, it suggests demand is increasing relative to supply.

“When inventory levels and days on market are both falling, it’s a clear sign that market forces are moving in favour of vendors – and the bigger the fall, the more likely that is to be true.

“In that situation, vendors are likely to respond by raising their asking prices. That, in turn, is likely to lead to higher selling prices.

“That’s why inventory levels and days on market, and to a lesser extent asking prices, are such good leading indicators.”

Top 20 suburbs defying the cooling property market

Rank	State	Suburb	Postcode	Type	Median asking price
1	NSW	Seven Hills	2147	Unit	$640,000
2	WA	Scarborough	6019	House	$859,000
3	QLD	Park Ridge	4125	House	$516,900
4	WA	Tuart Hill	6060	House	$679,000
5	NSW	Gosford	2250	Unit	$575,000
6	NSW	Bermagui	2546	House	$929,200
7	NSW	Carlingford	2118	Unit	$708,000
8	QLD	Buddina	4575	Unit	$745,000
9	VIC	Point Cook	3030	Unit	$550,000
10	WA	Balcatta	6021	House	$660,950
11	WA	Darling Downs	6122	House	$787,990
12	QLD	Placid Hills	4343	House	$600,000
13	WA	Margaret River	6285	House	$590,000
14	NSW	Yass	2582	House	$761,540
15	NSW	Googong	2620	House	$1,000,000
16	WA	Cannington	6107	House	$454,258
17	QLD	Labrador	4215	House	$645,201
18	WA	Innaloo	6018	House	$640,000
19	WA	Westminster	6061	House	$412,000
20	WA	Rivervale	6103	House	$635,700

The details

Seven Hills

Indicator	April 2022	July 2022	Change
Inventory level	7.6 months	1.9 months	-74.8%
Days on market	51 days	46 days	-9.8%
Median asking price	$635,000	$640,000	0.8%

Scarborough

Indicator	April 2022	July 2022	Change
Inventory level	7.1 months	2.0 months	-72.3%
Days on market	48 days	47 days	-2.1%
Median asking price	$808,000	$859,000	6.3%

Park Ridge

Indicator	April 2022	July 2022	Change
Inventory level	6.2 months	1.7 months	-72.1%
Days on market	44 days	34 days	-22.7%
Median asking price	$487,991	$516,900	5.9%

Tuart Hill

Indicator	April 2022	July 2022	Change
Inventory level	6.6 months	2.4 months	-63.8%
Days on market	41 days	38 days	-7.3%
Median asking price	$693,600	$679,000	-2.1%

Gosford

Indicator	April 2022	July 2022	Change
Inventory level	7.2 months	3.0 months	-57.7%
Days on market	29 days	28 days	-3.4%
Median asking price	$560,000	$575,000	2.7%

Bermagui

Indicator	April 2022	July 2022	Change
Inventory level	7.3 months	3.2 months	-56.2%
Days on market	48 days	39 days	-18.8%
Median asking price	$906,000	$929,200	2.6%

Carlingford

Indicator	April 2022	July 2022	Change
Inventory level	8.2 months	4.3 months	-48.4%
Days on market	30 days	29 days	-3.3%
Median asking price	$732,250	$708,000	-3.3%

Buddina

Indicator	April 2022	July 2022	Change
Inventory level	4.9 months	Under 1 month	N/A
Days on market	41 days	38 days	-7.3%
Median asking price	$690,000	$745,000	8.0%

Point Cook

Indicator	April 2022	July 2022	Change
Inventory level	4.4 months	Under 1 month	N/A
Days on market	45 days	41 days	-8.9%
Median asking price	$540,000	$550,000	1.9%

Balcatta

Indicator	April 2022	July 2022	Change
Inventory level	5.5 months	1.6 months	-70.1%
Days on market	49 days	47 days	-4.1%
Median asking price	$626,200	$660,950	5.5%

Darling Downs

Indicator	April 2022	July 2022	Change
Inventory level	4.7 months	1.0 months	-77.7%
Days on market	41 days	38 days	-7.3%
Median asking price	$768,500	$787,990	2.5%

Placid Hills

Indicator	April 2022	July 2022	Change
Inventory level	6.0 months	2.4 months	-60.0%
Days on market	51 days	41 days	-19.6%
Median asking price	$599,000	$600,000	0.2%

Margaret River

Indicator	April 2022	July 2022	Change
Inventory level	3.9 months	Under 1 month	N/A
Days on market	72 days	66 days	-8.3%
Median asking price	$580,000	$590,000	1.7%

Yass

Indicator	April 2022	July 2022	Change
Inventory level	5.4 months	1.8 months	-67.1%
Days on market	37 days	36 days	-2.7%
Median asking price	$690,000	$761,540	10.4%

Googong

Indicator	April 2022	July 2022	Change
Inventory level	5.0 months	1.5 months	-69.6%
Days on market	34 days	29 days	-14.7%
Median asking price	$963,050	$1,000,000	3.8%

Cannington

Indicator	April 2022	July 2022	Change
Inventory level	8.2 months	4.7 months	-42.1%
Days on market	64 days	59 days	-7.8%
Median asking price	$450,598	$454,258	0.8%

Labrador

Indicator	April 2022	July 2022	Change
Inventory level	5.6 months	2.2 months	-61.1%
Days on market	42 days	41 days	-2.4%
Median asking price	$590,000	$645,201	9.4%

Innaloo

Indicator	April 2022	July 2022	Change
Inventory level	5.8 months	2.4 months	-58.9%
Days on market	54 days	49 days	-9.3%
Median asking price	$605,000	$640,000	5.8%

Westminster

Indicator	April 2022	July 2022	Change
Inventory level	5.9 months	2.6 months	-56.9%
Days on market	48 days	47 days	-2.1%
Median asking price	$405,414	$412,000	1.6%

Rivervale

Indicator	April 2022	July 2022	Change
Inventory level	7.6 months	4.3 months	-44.0%
Days on market	48 days	44 days	-8.3%
Median asking price	$600,000	$635,700	6.0%

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