The 50 most sought after areas for house price growth

At a time when Aussie house prices are falling across most of the country, there are some areas which are bucking the trend, experiencing growing demand and swelling property prices.

The majority of council areas that have recorded the greatest increase in total value of sales over the past 12 months are located in regional areas of the country, according to the latest data by CoreLogic.

Over the 12 months to March 2016, there were 467,993 dwelling sales nationally with a total value of $281.2 billion. 

Also read: Are falling house prices masking something more worrying?

Compared to the same 12 month period in 2015, the number of sales were -6.7% lower this year and the total value of these sales were -2.0% lower. 

The difference in sales volumes and the value of sales between capital city and regional markets highlights that regional housing markets are starting to show an improving trend.

Of the top 50 council areas nationally which have recorded the greatest annual increase, only four are located in capital cities. 

The remaining 46 locations are in regional areas of the country however, many are within larger regional areas. 

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By state, 31 of the council areas are located in NSW, five are in Victoria, one is in Queensland, eight are in South Australia and five are in Tasmania. 

Regional markets in NSW are showing the highest levels of demand and value growth of all regional markets across the states and territories. 

With mortgage rates low, certain capital city housing markets becoming unaffordable and an improvement in confidence surrounding regional housing, we would expect many of these council areas to see further increases in the total value of sales over the coming year, Corelogic said.

 

Top 50 council areas for increases in total value of sales over the year to March 30 2016

Source: CoreLogic