Yahoo Finance Top 19 suburbs where property prices will rise
Property prices have been cooling around the country, but new research has identified some suburbs that are still expected to see prices rise.
The Well Money Green Shoots report found the top suburbs in Australia that were showing the clearest signs strong price growth was around the corner.
The suburbs had the strongest combination of inventory levels falling - meaning fewer available properties - fewer days spent on the market, and asking prices increasing over the past three months.
Well Money CEO Scott Spencer said inventory levels had fallen in each of the markets over the October quarter.
“The reason inventory levels are such an important leading indicator is because they tell you what’s happening with the balance of power in a particular market,” Spencer said.
“When inventory levels are falling, that means buying conditions are becoming harder, which forces buyers to compete harder and puts upward pressure on prices.”
Spencer said each of the suburbs had also seen days on the market either remain the same or fall.
“When properties sell more quickly, that’s another sign of growing buyer competition. When supply falls and demand rises, vendors take notice,” he said.
Suburbs where prices are expected to rise
Here are the suburbs where prices are anticipated to rise, and the median asking price.
Burekup, WA - $511,110
St Albans, VIC - $518,160
Moonta, SA - $320,000
North Brighton, SA - $1,072,500
Glenelg, SA - $1,101,998
Johnston, NT - $612,500
Sunshine, NSW - $930,000
Junction Village, VIC - $720,700
Wembley Downs, WA - $1,249,990
Wyee, NSW - $897,573
Booval, QLD - $249,000
Two Wells, SA - $486,000
Cairnlea, VIC - $430,260
Munno Para, SA - $384,500
Noranda, WA - $325,000
Binningup, WA - $415,000
Alkimos, WA - $459,430
Waterways, VIC - $1,540,800
Brighton-Le-Sands, NSW - $750,000
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