Suburbs in five states have recorded annual price growth in excess of 45 per cent, according to new data.
NSW clearly dominated the list of high-growth suburbs – a massive 11 suburbs recording annual price growth in the 12 months ending December 2015, according to CoreLogic RP Data.
Gooloogong, a village in the state’s centre, recorded the highest price growth in the country, with house values jumping by 50 per cent to sit at a current median of $210,000.
Other strong performers in NSW included houses in Mulgoa, 47.86 per cent, Federal, 47.74 per cent, and Eugowra, 47.16 per cent.
The remaining suburbs to achieve growth above the 45 per cent mark were Annangrove, Rushcutters Bay, Seaham, Wombarra, Wamberal, Soldiers Point and Kentlyn.
Queensland was home to the location with the second highest growth in the country, the town of Cunnamulla, which recorded house price growth of 48.15 per cent to sit at a current median of $40,000.
Melbourne’s Box Hill took out Victoria’s number one spot, recording median house price growth of 47.66 per cent to sit at a current median of $1,450,000.
Jeparit, in the state’s north-west, recorded price growth of 46.03 per cent for houses.
The current median house price in Jeparit is $92,000.
In South Australia, Ceduna and Wallaroo Mines both recorded annual price growth above 45 per cent.
Ceduna returned a figure of 45.45 per cent, calculated on a current median house price of $280,000.
Wallaroo Mines returned growth of 45.27 per cent based on a median house price of $268,750.
The only states and territories not to record price growth above 45 per cent were Western Australia, the ACT, Tasmania and the Northern Territory.
Western Australia’s best result was Cunderdin, recording growth of 40.27 per cent calculated on a median house price of $232,500.
Wright was the ACT’s strongest performer, recording growth of 38.96 per cent with a current median house price of $797,500.
Glen Huon, in Tasmania’s south east, recorded growth of 31.82 per cent on a median house price of $290,000 – topping the state.
The Northern Territory’s number one suburb was Katherine South, with growth of 29.23 per cent based on a median house price of $393,500.