5 states with 45%-plus price growth



Suburbs across Australia have reported annual median price growth above 45 per cent, according to new data.

South Australia, NSW, Victoria, Queensland and Western Australia all have at least one suburb with high median price growth, the latest CoreLogic RP Data report shows.

Adelaide’s Salisbury Downs topped the list, where the current median unit price of $232,500 is indicative of a 50 per cent increase in the 12 months to November 2015. 

Salisbury Downs was joined by Heathfield – with 45.42 per cent growth based on a current median house price of $730,000 – to give South Australia two suburbs above the 45 per cent mark. 

NSW was home to the largest number of suburbs returning growth figures of 45 per cent or more, with at least 10 suburbs featuring on the list. 

The suburb with the best result in NSW, and the second highest figure in the country, was Bar Point, on the central coast, where the median house price grew by 49.24 per cent to sit at $442,500. 

South Boulder topped Western Australia’s suburb list, with the mining town returning a figure of 47.3 per cent based on a current median house price of $286,500. 

Surf coast town Lorne was Victoria's highest growth suburb – the median unit price there grew by 47 per cent over 12 months to sit on a current median of $685,000. 

Cunnamulla, in South West Queensland, recorded median house price growth of 45.3 per cent to sit on a current median price of $42,500 – the state’s number one performer. 

The states and territories that did not have a suburb with growth above 45 per cent were Tasmania, the ACT and the Northern Territory. 

The ACT’s best performer was Forrest, where the median unit price grew by 42.2 per cent to sit on $1,002,500. 

The Northern Territory’s best performer was Larrakeyah, with median price growth of 36.3 per cent on a current house price of $995,000. 

Tasmania’s best result was in Brooklyn, where house prices grew by 34.56 per cent to sit at $183,000. 

To read more results, click here.

 

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