Yahoo Finance Property boom: 19 suburbs where prices are expected to keep rising
Australia’s property market is red hot but prices are expected to start cooling off this year with prices in Sydney and Melbourne already seeing a drop.
However, not all suburbs are created equal and, even in times of a cooling market, not all are expected to follow suit.
New research commissioned by Well Home Loans identified metro and regional locations around Australia where strong price growth appeared imminent.
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The quarterly Well Home Loans Green Shoots Report identified the top suburbs in Australia currently showing the clearest signs strong price growth was just around the corner.
The suburbs chosen 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.
Well Home Loans CEO Scott Spencer said while property markets in many places of the country were cooling, the report found markets that were likely to heat up in the months ahead.
“Inventory levels and days on market have fallen in all the locations over the three months to April, often from already-low levels, which shows buying conditions have become harder,” he said.
“Vendors have noticed, raising their asking prices in all but two of the locations. This is likely to translate to higher selling prices in the second half of the year.
“Real estate is often reported in national terms, but it’s actually very localised. Each suburb has its own unique supply-and-demand dynamics.”
These are the suburbs expected to see prices continue rising and the median asking price for the area:
Campbells Creek, VIC - $659,000
Corinda, QLD - $1,208,340
Albion Park Rail, NSW - $772,500
Tuncurry, NSW - $705,000
Lithgow, NSW - $429,000
Albion Park, NSW - $821,600
Smithfield, NSW - $691,200
Greenwith, SA - $545,000
Rylstone, NSW - $480,000
Gagebrook, TAS - $320,000
Chidlow, WA - $649,000
Calderwood, NSW - $949,000
Enoggera, QLD - $1,025,000
Glenunga, SA - $1,400,000
Cranbourne North, VIC - $490,000
Wangi Wangi, NSW - $897,600
Golden Grove, SA - $575,000
Banks, ACT - $779,100
Woodrising, NSW - $663,000
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