Suburbs in seven of the eight states and territories recorded annual price growth of over 45 per cent, according to recent data.
The figures released by CoreLogic RP Data revealed that NSW was the clear front-runner, with five suburbs recording annual price growth in excess of 45 per cent in the 12 months to January 2016.
Gooloogong in NSW took out the number one position in Australia with an impressive 50 per cent annual price growth over the 12 months, based on a median house price of $210,000.
Wombarra and Tarrawanna came in second and third in NSW, recording 49.35 per cent and 48.74 per cent growth respectively.
The remaining two NSW suburbs recording price growth above 45 per cent were Waverley (48.28 per cent) and Wamberal (46.37 per cent).
South Australia was home to the suburb with the second highest annual price growth in the country, with College Park recording 49.76 per cent growth based on a median house price of $1,572,500.
The only other South Australian suburb to record price growth in excess of 45 per cent was Goodwood with 47.66 per cent growth.
Western Australia was also home to two suburbs on the list, with Jarrahdale and Crawley recording price growth of 49.53 per cent and 48.58 per cent respectively.
Similarly, Queensland saw two suburbs make the list for highest annual price growth.
Cabarlah recorded price growth of 49.18 per cent based on a median house price of $723,500, while Wongaling Beach experienced 46.67 per cent growth.
Victoria’s Corinella made the list with 46.15 per cent growth.
Northern Territory suburb Bayview recorded price growth of 45.79 per cent, with a median house price of $1,150,000.
The last suburb to make the cut was Turner in the ACT, which experienced 45.79 per cent growth over the 12 months.
Tasmania was the only state with no suburbs recording growth above 45 per cent.