HOW HOT IS YOUR SUBURB?
Since the beginning of 2013 we have seen price gains of almost 50 per cent in some areas across Australia. Although the market is slowing, in-demand suburb prices will keep rising.
Amongst the biggest value shifts during this period are Sydney’s Waitara, North Sydney and Manly Vale, Melbourne’s Caulfield, Armadale and Camberwell. As well as Brisbane’s Hamilton and Healthwood.
Looking at the suburb-by-suburb price growth, gives us a good indication of the potential for future growth. RP Data research director Tim Lawless points out that areas filled with affordable family homes in suburbs dominated by owner-occupiers, are the sorts of areas with room to grow as they are high in demand.
He says there is still plenty of buyer enthusiasm as they sense with RP Data figures showing Sydney area Old Toongabbie in Parramatta, show homes are selling on average within 12 days of listing. In other Sydney areas, homes in Blacktown, Lane Cove and Willouhby are selling in less than 20 days with the median price between $600,000 and $900,000.
We take a look across Australia at each states Top 2 suburbs for both houses and units according to RP Data Research.
| Suburb | Median Price ($) | Change (%) | Suburb | Median Price ($) | Change (%) | ||
| Sydney House | Waitara | 973,595 | 47.1 | Sydney Unit | Waverley | 675,512 | 41.3 |
| North Sydney | 1,502,392 | 42.3 | Rushcutters Bay | 545,999 | 39.6 | ||
| Melbourne House | Caulfield | 1,257,034 | 47.8 | Melbourne Unit | Murrumbeena | 483,741 | 41.0 |
| Williams Landing | 477,321 | 41.7 | Mount Eliza | 461,058 | 39.6 | ||
| Brisbane House | Hamilton | 1,280,654 | 33.2 | Brisbane Unit | Kangaroo Point | 507,404 | 15.4 |
| Heathwood | 541,051 | 27.9 | Highgate Hill | 483,255 | 13.9 | ||
| Darwin House | Ludmilla | 722,000 | 20.9 | Darwin Unit | Fannie Bay | 575,981 | 30.3 |
| Parap | 880,000 | 18.3 | Nightcliff | 433,599 | 27.5 | ||
| Adelaide House | Hectorville | 460,319 | 18.7 | Adelaide Unit | North Adelaide | 474,413 | 16.6 |
| Toorak Gardens | 1,305,946 | 18.2 | Goodwood | 353,014 | 13.9 | ||
| Perth House | Burns Beach | 989,465 | 37.9 | Perth Unit | Mount Hawthorn | 600,258 | 35.0 |
| Jarrahdale | 510,711 | 30.4 | Burswood | 652,508 | 34.9 | ||
| Hobart House | South Hobart | 443,045 | 16.3 | Hobart Unit | Sandy Bay | 375,307 | 14.7 |
| North Hobart | 419,179 | 12.5 | Lenah Valley | 283,306 | 13.7 | ||
| Canberra House | Bruce | 851,825 | 18.3 | Canberra Unit | Mawson | 432,119 | 23.5 |
| Yarralumla | 1,340,937 | 16.7 | Garran | 565,077 | 7.5 |
Property Investors, earn higher returns on your money by investing in development finance mortgages go to our Property Investment http://www.pru.com.au/property-investment page with Prudential Finance call 1300 550 669 to discuss current opportunities.
