Yahoo Finance Top 20 Aussie suburbs where prices will boom
The top 20 Aussie suburbs showing the telltale signs of a price rise have been identified in the quarterly Well Home Loans Green Shoots Report.
Well Home Loans CEO Scott Spencer said the Well Home Loans Green Shoots Report has identified a diverse range of promising housing markets around the country.
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"The top 20 list includes 14 metro locations and six regional locations scattered around all eight states and territories. Of the 20 locations, 12 are unit markets and eight house markets, catering to a variety of budgets,” he said.
“That shows, no matter where you live, there might be a nearby housing market where prices look set to accelerate in the not-too-distant future. That provides you with a potential opportunity if you’re thinking about buying.”
The top 20 Aussie suburbs
1. The house market of Mount Johns (Alice Springs, NT)
Of all the suburbs in Australia, the house market of Mount Johns, in Alice Springs, is showing the clearest signs that strong price growth is just around the corner, according to the report.
The median asking price of around $680,000 was unchanged during the quarter, but is likely to rise in the near future.
2. The unit market of Oxley Park (Sydney, NSW)
The unit market showing the strongest sign of imminent price growth is the Oxley Park market in western Sydney, the report said.
The area has seen a sharp rise in the median asking price, from $532,000 to $559,000 in the last three months.
3. The unit market of Rainbow Beach (Gympie region, Qld)
The report said Rainbow Beach unit prices look set to rapidly increase in the near term.
Days on market have tumbled over the quarter, from 157 to 115 days.
As a result, vendors have raised their median asking price from $285,000 to $299,000.
4. The unit market of Elermore Vale (Newcastle, NSW)
Asking prices have been picking up in the Elermore Vale unit market, and that growth looks set to continue, according to the report.
That’s led to an increase in the median asking price over the quarter, from $484,790 to $494,390.
5. The unit market of Glenelg (Adelaide, SA)
There are three clear signs the Glenelg unit market is poised for future price growth, according to the Well Home Loans Green Shoots Report.
Days on market have also declined, from 51 to 43 days and vendors have sensed which way the wind is blowing.
So, over the past three months, vendors have been pushing up the median asking price, from $445,000 to $485,000.
6. The house market of Hackham (Adelaide, SA)
Hackham house prices are set to accelerate in the not-too-distant future, according to the Well Home Loans Green Shoots Report.
Days on market have declined during the quarter, from 39 to 35 days. Unsurprisingly, the median asking price has crept up, from $364,228 to $370,800 over the last three months.
7. The unit market of Rockingham (fringes of Perth, WA)
The report said the Rockingham unit market is the most promising property market in Western Australia right now.
Part of the reason is the fall in days on market during the quarter, from 105 to 86 days. As a result, the median asking price has risen significantly, from $299,000 to $318,000.
8. The house market of Madeley (Perth, WA)
The Madeley house market is nicely positioned for imminent price growth, the report found.
Days on market have tightened over the quarter, from 65 to 60 days and as a result, the median asking price has increased, from $571,200 to $581,400.
9. The house market of North Haven (Adelaide, SA)
The North Haven house market is going from strength to strength, according to the Well Home Loans Green Shoots Report.
Over the past three months, the median asking price has sharply increased, from $525,000 to $555,000.
Partly, that’s been caused by the significant fall in days on market, from an already low 29 days three months ago to just 23 days now.
10. The unit market of Hope Island (Gold Coast, Qld)
The Hope Island unit market is going from strength to strength. Over the past three months, days on market have fallen as well, from 82 to 73 days.
Unsurprisingly, the median asking price has risen over the past three months, from $525,000 to $534,600.
11. The house market of Pooraka (Adelaide, SA)
Buyers are being forced to compete hard for Pooraka houses, which is putting upwards pressure on prices, according to Well Home Loans.
Over the past three months, the median asking price has surged, from $375,000 to $395,000.
This is partly because days on market have also fallen over the quarter, from 32 days to just 28 days.
12. The house market of Modbury North (Adelaide, SA)
Modbury North house prices look set to really take off in the near term, according to the Well Home Loans Green Shoots Report.
Days on market have also tightened over the quarter, from 35 to 30 days.
Vendors have noticed, pushing up their median asking price from $423,950 to $438,700.
13. The unit market of Wynnum (Brisbane, Qld)
The unit market in Wynnum, a coastal suburb of Brisbane, has really strengthened over the past three months, according to the Well Home Loans Green Shoots Report.
Days on market have also trended down over the quarter, from 75 to 67 days. As a result, the median asking price has climbed from $455,000 to $470,400.
14. The unit market of Florey (Canberra, ACT)
Prices have been picking up in the Florey unit market, and that growth looks set to continue, the report said.
Days on market are also very low, falling from 27 to 24 days, a drop of 11.1 per cent.
That has led to a surge in the median asking price over the quarter, from $430,000 to $463,840.
15. The unit market of Carrum Downs (Melbourne, Vic)
Carrum Downs unit prices are poised to accelerate in the not-too-distant future, the report expects.
Over the last three months days on market, which were already low at 27 days, have fallen further, to 26 days.
The median asking price remained unchanged, at $480,000, but the data suggest that will soon increase.
16. The house market of Seville Grove (Perth, WA)
In Seville Grove, in south Perth, conditions in the house market are going from strength to strength, according to the Well Home Loans Green Shoots Report.
Days on market have tightened 11.3 per cent over the quarter, from 53 to 47 days.
Vendors have responded by raising their median asking price, from $326,450 to $335,000.
17. The unit market of Werribee (Melbourne, Vic)
Asking prices in the Werribee unit market might be flat right now, but they’re likely to increase in the near term.
Over the past three months, the median asking price has remained unchanged, at $400,000.
However, days on market have fallen sharply during the quarter, from 68 to 47 days, suggesting buyers will soon be forced to compete harder for properties.
18. The unit market of St Marys (Sydney, NSW)
The St Marys unit market in western Sydney is showing clear signs of imminent price growth, the report said.
Days on market were unchanged during that three-month period, but at a low 28 days.
Unsurprisingly, the median asking price has climbed over the past three months, from $483,000 to $499,000.
19. The house market of Carlton (Sorell region, Tas)
Buyers are being forced to compete hard in the Carlton unit market in regional Tasmania.
Over the past three months, the median asking price has climbed from $450,000 to $460,000.
Days on market have also tightened, from 33 days to an extremely low 23 days.
20. The unit market of Sandringham (Melbourne, Vic)
The Sandringham unit market is set for strong price growth in the near future, according to the Well Home Loans Green Shoots Report.
Days on market are unchanged during that three-month period, but remain low at 31 days. As a result, the median asking price crept up over the quarter, from $688,000 to $700,000.
