8 fast-growing suburbs revealed

Fast growing suburbs revealed

Suburbs in four states and territories have posted quarterly growth above 30 per cent according to new data, with some surprising inclusions among the top performers.

NSW, Victoria, the Northern Territory and Western Australia are home to the fastest-growing suburbs in Australia, according to the latest CoreLogic RP Data.

NSW is home to the largest number of suburbs growing above 30 per cent, with four achieving the accolade. 

Bungonia, a small town in the Southern Tablelands, claimed number one spot in the nation. The median house price there grew by 34.9 per cent to reach $451,250 in the quarter ending October 2015.

Tamarama, in Sydney’s eastern suburbs, returned median unit price growth of 34.72 per cent for the quarter. The median unit price in Tamarama now sits at $1.3 million.

House prices in the town of Curlwaa, in the state’s far south west, recorded growth of 34.41 per cent to sit on $125,000.

Back in Sydney, the outer west suburb of Colebee recorded growth of 32.37 per cent to sit on $797,500.

Western Australia was home to the second largest number of 30 per cent plus suburbs, with Albany and Erskine making the list.

The median house price in Albany sat at $730,000 at the end of the October quarter – indicating growth of 34.69 per cent.

Units in the Mandurah suburb of Erskine recorded price growth of 30.83 per cent, with a median unit price of $435,000.

The list of eight high-performing suburbs is rounded out by Bayview in the Northern Territory and Warranwood in Victoria.

Bayview, in Darwin, returned price growth of 31.71 per cent, based on a median house price of $1,152,500.

Warranwood, in Melbourne’s north east, returned a figure of 30.73 per cent based on a median unit price of $627,500.

8 fast-growing suburbs revealed
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