well-money-ceo-scott-spencer-construction-background-feature
Well Money’s CEO Scott Spencer, the company commissioning the research. Image: Supplied; The Property Tribune.
  • 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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