Yahoo Finance Suburbs where property prices have more than doubled in 5 years
Forget the usual suspects, the Aussie suburbs where property prices have skyrocketed may surprise you.
Over the past five years, property prices have been on a rollercoaster, from major gains during the pandemic to the recent slump, but some suburbs have remained significantly higher.
Homeowners in some suburbs have won the ‘property lottery’ with gains of as much as $1.1 million in median home prices.
Also read: Property hot spots: Top 50 suburbs tipped for growth
Also read: 6 regional areas seeing the biggest property price growth
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The suburbs that saw the biggest increases in median house prices in the past five years included:
Bright, VIC – 152 per cent increase in median house price in five years to $1,285,000
Jindabyne, NSW – 148 per cent increase in house price over five years to a median of $1.5 million
Venus Bay, VIC – 133 per cent increase in median house price in five years to $687,000
It’s not just houses that saw phenomenal growth. Units in some areas have seen gains of as much as $700,000 in the past five years, including:
Noosaville QLD – 108 per cent increase in median unit price in five years to $935,000
Jindabyne NSW – 105 per cent increase in median unit price in five years to $718,000
Sunshine Beach QLD – 102 per cent increase in median unit price in five years to $1.4 million
Suburbs where prices have risen the most
Houses
Rank | Suburb | Area | Current Median | 5-year $ change in median sales | 5-year % change in median sale price |
1 | Bright | Rest of Vic. | $1,285,000 | $775,000 | 152% |
2 | Jindabyne | Rest of NSW | $1,550,000 | $925,000 | 148% |
3 | Venus Bay | Rest of Vic. | $687,000 | $392,000 | 133% |
4 | Kingscliff | Rest of NSW | $2,000,000 | $1,130,000 | 130% |
5 | Bridgewater | Greater Hobart | $480,000 | $270,000 | 129% |
6 | East Devonport | Rest of Tas. | $440,000 | $247,000 | 128% |
7 | Trentham | Rest of Vic. | $1,260,000 | $705,000 | 127% |
8 | San Remo | Rest of Vic. | $1,150,000 | $639,000 | 125% |
9 | Teralba | Rest of NSW | $900,000 | $500,000 | 125% |
10 | Tocumwal | Rest of NSW | $600,000 | $332,000 | 124% |
Units
Rank | Suburb | Area | Current Median | 5- year $ change in median sales | 5- year % change in median sale price |
1 | Noosaville | Rest of Qld | $935,000 | $485,000 | 108% |
2 | Jindabyne | Rest of NSW | $718,000 | $368,000 | 105% |
3 | Sunshine Beach | Rest of Qld | $1,425,000 | $719,000 | 102% |
4 | Coolum Beach | Rest of Qld | $785,000 | $390,000 | 99% |
5 | Prospect Vale | Rest of Tas. | $460,000 | $220,000 | 92% |
6 | Casuarina | Rest of NSW | $948,500 | $453,500 | 92% |
7 | Wendouree | Rest of Vic. | $377,250 | $179,250 | 91% |
8 | Marcoola | Rest of Qld | $695,000 | $330,000 | 90% |
9 | Wangaratta | Rest of Vic. | $356,000 | $168,000 | 89% |
10 | Claremont | Greater Hobart | $476,000 | $224,000 | 89% |
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