Top five star Aussie growth markets

There are many Aussie towns and suburbs that have seen their property markets improve as the number of sales continued to grow, but here are five areas which have completely outshone the rest.

Victoria is home to three of the top five most impressive areas for property growth, with Queensland and South Australia accounting for one one each, according to a recent Hotspotting report.

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1. Affordable suburbs in Geelong, VIC

The city of Geelong is now the superstar of the Victorian property market.

It has been a strong market for some time but has risen in Hotspotting’s latest survey, in contrast to the sharp Melbourne property market downturn.

A standout feature is the growing sales activity in cheaper suburbs such as Norlane, Corio, Blemont and Clifton Spings.

This doesn’t surprise as Geelong thrives on being seen as an affordable alternative to Melbourne, the report said.

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2. Cheap suburbs in Moreton Bay, QLD

The Moreton Bay Region, which includes the suburbs on the northern fringes of Brisbane, has a number of affordable suburbs with a high turnover of house sales.

Narangba (with a median price of $450,000) and Kallangur (with a median price of $360,000) are typical suburbs where sales volumes are steadily rising and where buyers seek affordable homes.

3. Bayside suburbs on the Mornington Peninsula, VIC

While the Melbourne market has generally gone off the boil, the one region that continues in inflate is the Mornington Peninsula LGA.

Bayside suburbs at opposite ends of the price spectrum – Rosebud West (with a median house price of $425,000) and Sorrento ($900,000) – have markets with sales activity which is steadily increasing.

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4. Towns of Alexandria Shire, SA

It’s not often that regional towns in South Australia would rate so highly in a Hotspotting report but both Strathalbyn and Goolwa have been enjoying rising property markets.

Both have sales activity trending in the right direction to deliver price growth.

Also read: Australia’s top 25 super-charged growth suburbs

5. Coastal towns near Melbourne, VIC

It’s not just Geelong and the Mornington Penninsula which are experiencing a property boom but other bayside communities not far from Melbourne also make the top five.

Torquay on the Surf Coast south of Geelong and the towns of Bass Coast, including Inverloch, have also had impressive markets.

As do other Bass Coast locations such as Wonthaggi and Cowes.