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Top 20 suburbs to buy where prices are set to skyrocket

·Personal Finance Editor
·2-min read
Australian $100 notes stacked on top of each other and an aerial view of an Australian suburb.
These 20 suburbs are tipped to see the biggest price growth this year. (Source: Getty)

Property price growth is expected to slow down this year, but these 20 suburbs are expected to see prices accelerate instead, according to new research.

A report, commissioned by Well Home Loans, has identified some specific property markets, in capital cities as well as regional locations, where prices are likely to grow during 2022.

The 20 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 the report contained a diverse mix of property markets, generally at affordable prices.

"The top 20 list includes markets in seven different states and territories. Of the 20 locations, there are 11 metro and nine regional locations, as well as 11 house and nine unit markets,” he said.

"Median prices start as low as $165,000 for the Whyalla Norrie house market in regional South Australia and go no higher than $820,000 for the Burwood unit market in Melbourne."

Spencer said while the Well Home Loans Green Shoots Report is helpful for anyone planning to enter the market, buyers should also seek professional advice.

“Buying a property is a major financial decision, so it’s important you do your due diligence,” Spencer said.

“It’s also a good idea to get a pre-approval … so you have your finance in place before you attend open homes and place bids.”

Here are the top 20 suburbs.

Rank

State

Suburb

Postcode

Type

Price

1

VIC

Hallam

3803

Unit

$505,000

2

WA

Broome

6725

House

$589,000

3

SA

West Lakes

5023

Unit

$529,000

4

QLD

Mango Hill

4509

Unit

$359,000

5

QLD

Newtown

4350

Unit

$270,000

6

SA

Whyalla Norrie

5608

House

$165,075

7

VIC

Wyndham Vale

3024

House

$513,000

8

SA

Evanston Gardens

5116

House

$346,900

9

QLD

Bohle Plains

4817

House

$440,000

`10

QLD

Collingwood Park

4301

House

$435,319

11

SA

Mount Barker

5251

House

$439,900

12

VIC

Burwood

3125

Unit

$820,000

13

VIC

Eynesbury

3338

House

$606,400

14

ACT

Gungahlin

2912

Unit

$469,000

15

WA

Leda

6170

House

$325,500

16

NSW

Kirrawee

2232

Unit

$760,000

17

WA

Djugun

6725

House

$625,000

18

ACT

Belconnen

2617

Unit

$450,000

19

TAS

Devonport

7310

Unit

$319,000

20

WA

Jurien Bay

6516

House

$450,000

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