Top 20 suburbs where home prices are still rising

The property market is cooling but some suburbs are still expected to see prices rise. (Source: Getty)

Australia’s property market is finally starting to cool after years of unprecedented price growth, but some suburbs are still bucking the trend.

New research commissioned by Well Money identified metro and regional locations where prices look set to rise rather than fall.

The quarterly Well Money Green Shoots Report identified the top 20 suburbs in Australia currently showing the clearest signs that strong price growth is just around the corner.

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The 20 suburbs chosen always 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 Money CEO Scott Spencer said the report identified housing markets bucking the downturn trend.

“In every one of these suburbs, inventory levels and days on market have fallen over the past three months, which means conditions have moved in favour of sellers,” he said.

“As a result, vendors have increased asking prices in all but two of the suburbs, despite the fact the market is cooling in many parts of the country.

“That shows you that Australia is not one big housing market. There are actually hundreds of different markets spread around the eight states and territories.”

Spencer said that while most markets were experiencing price increases last year, many were starting to pull back from their highs.

“However, the suburbs in this report look set to grow in coming months,” he said.

“That’s because demand is currently higher than supply, which means buyers are being forced to compete hard.

“That sort of competitive tension is likely to generate increases in selling prices.”

The top 20 suburbs where prices will keep rising

Here are the top 20 suburbs where property prices are expected to continue to rise, as well as the median asking price.

1. Seven Hills, NSW - $640,000 (unit)

2. Scarborough, WA - $859,000 (house)

3. Park Ridge, QLD - $516,900 (house)

4. Tuart Hill, WA - $679,000 (house)

5. Gosford, NSW - $575,000 (unit)

6. Bermagui, NSW - $929,200 (house)

7. Carlingford, NSW - $708,000 (unit)

8. Buddina, QLD - $745,000 (unit)

9. Point Cook, VIC - $550,000 (unit)

10. Balcatta, WA - $660,950 (house)

11. Darling Downs, WA - $787,990 (house)

12. Placid Hills, QLD - $600,000 (house)

13. Margaret River, WA - $590,000 (house)

14. Yass, NSW - $761,540 (house)

15. Googong, NSW - $1,000,000 (house)

16. Cannington, WA - $454,258 (house)

17. Labrador, QLD - $645,201 (house)

18. Innaloo, WA - $640,000 (house)

19. Westminster, WA - $412,000 (house)

20. Rivervale, WA - $635,700 (house)

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