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20 suburbs for buyers and sellers to watch
A new report has found 20 suburbs around Australia where home buyers, sellers and investors can expect to see prices rise in the near future.
The Well Home Loans Green Shoots Report looks at some of the main indicators of future property price rises – shrinking inventory, shorter days on market, and rising median asking prices – over the past quarter to determine the 20 suburbs around the country where values are most likely to increase over the coming quarter.
Well Home Loans CEO, Scott Spencer, said that this quarter’s results include a diverse mix of property markets in seven different states and territories, with 11 metro and nine regional locations, as well as 11 house and nine unit markets.
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 | 5166 | 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 | Djungun | 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 |
As well as property values, Australian first home buyers and other mortgage holders may need to keep an eye on interest rates this year, with rate hikes expected later in the year regardless of the RBA’s decisions – something over 1.1 million households have never experienced.
Keep in mind that despite the data indicators, there are no guarantees that properties in the areas covered by the report will increase in value over the next quarter. Remember to compare home loans and consider seeking personal financial advice and/or contacting a mortgage broker before taking the plunge. You can also get a free property value extimate at RateCity.
Disclaimer
This article is over two years old, last updated on February 7, 2022. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent home loans articles.
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