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Mercury
18 hours ago
- Business
- Mercury
Australia's outer suburbs beat city bling in property price boom
Forget the harbour views and inner-city lattes, the real Aussie property boom is happening in the bush and beyond. New figures reveal a ripper surge in house prices in regional and outer-city suburbs, leaving city slickers green with envy. The latest PropTrack report shows a whopping 39 suburbs across the nation have seen their property values skyrocket by more than 10 per cent in just three months. Murray Bridge in South Australia takes the crown with an eye-watering 18 per cent jump in unit prices – the biggest increase in the entire country. Meadowbrook in Queensland's Logan-Beaudesert region and Murwillumbah in NSW's Richmond-Tweed rounded out the top three. Other top performers include Chidlow in WA, Menangle in Sydney's outer south, and Griffith in the NSW Riverina. Deagon, Ascroft and Home Hill are also enjoying the boom. Here's a closer look at how our key states are performing. NEW SOUTH WALES Home prices have been growing at three times the rate of inflation in many parts of Sydney as interest rate cuts from earlier in the year continue to usher in more property buyers into the market. The biggest rises have been observed in some of the most affordable unit markets, with the rate cuts launching a scramble for the cheapest real estate deals near major commuter hubs. Units in Ashcroft, Wahroonga, Belrose, Cartwright and Sadlier all jumped by 10 per cent or more in just three months, as affordable pockets under the city's lofty median price of $1.182m captured buyers. Read the full story here. QUEENSLAND Sixteen suburbs have joined the $1 million-plus club in the past three months as Queensland's red hot property market shows no signs of slowing down, with the state now home to 299 locales with seven-figure median home values. PropTrack's June Quarterly Home Index shows that median house values have now hit seven figures in once affordable suburbs right across Brisbane, Moreton Bay, Logan-Beaudesert, Ipswich, the Gold Coast and Sunshine Coast, and Toowoomba. Each one saw their median house value edge over $1 million in the three months to June. It comes after PropTrack revealed that Brisbane now has a $1 million median price tag (houses and units combined), finishing the month of June at $1.015 million – an increase of $74,800. And the data shows that there are 10 suburbs with median home values above $2 million, with Chandler leading the pack with$3,149,155. Tennyson is the most expensive unit market with a median value of $2,104,972. Read the full story here. TASMANIA Elections don't tend to be great news for property market growth, but they couldn't stop Hobart's green shoots from popping up. Exclusive June quarter PropTrack figures show 38 out of 56 greater Hobart suburbs recorded median house price growth, despite a federal election and the announcement of a state election. The 38 growth areas far outstripped the seven suburbs with a declining median value and the 11 that sat unchanged from the previous quarter. Eastern Shore lifestyle suburb Sandford was the top-performing area with a 4 per cent increase over the three-month period. Read the full story here. VICTORIA Melbourne's property market has been tipped to reach a record high by Christmas after a rise in home values across hundreds of suburbs. Across the June quarter, Melbourne's top suburbs for median house price growth of between 4 to 5 per cent included Glen Huntly (with a new $1,507,058 median), Wandong ($871,817), Braeside ($1,530,522), Williamstown North ($1,143,023) and Frankston North ($603,715). For purchasers seeking a smaller residence, Wallan in Melbourne's outer north performed best for units with median prices zooming up 10 per cent to $483,070. In regional Victoria, houses in the East Gippsland town of Orbost increased 8 per cent to hit $350,875 and Castlemaine units soared 9 per cent to $647,860. Read the full story here. SOUTH AUSTRALIA South Australia's property boom is showing no signs of abating, with house values in more than 250 areas and unit values in another 78 recording double-digit growth over the past year. New PropTrack figures reveal some suburbs and towns even managed to crack the 20 per cent growth threshold over the 2024-2025 financial year. Unit values in Everard Park had the highest growth at 25 per cent, taking the estimated median value to $628,794. Salisbury North units followed closely behind, with its estimated median value rising 24 per cent to $546,698, while Elizabeth South and Waikerie house values both rose 23 per cent to $543,354 and $386,100 respectively. Read the full story here.
Courier-Mail
18 hours ago
- Business
- Courier-Mail
Australia's outer suburbs beat city bling in property price boom
Forget the harbour views and inner-city lattes, the real Aussie property boom is happening in the bush and beyond. New figures reveal a ripper surge in house prices in regional and outer-city suburbs, leaving city slickers green with envy. The latest PropTrack report shows a whopping 39 suburbs across the nation have seen their property values skyrocket by more than 10 per cent in just three months. Murray Bridge in South Australia takes the crown with an eye-watering 18 per cent jump in unit prices – the biggest increase in the entire country. Meadowbrook in Queensland's Logan-Beaudesert region and Murwillumbah in NSW's Richmond-Tweed rounded out the top three. Other top performers include Chidlow in WA, Menangle in Sydney's outer south, and Griffith in the NSW Riverina. Deagon, Ascroft and Home Hill are also enjoying the boom. Here's a closer look at how our key states are performing. NEW SOUTH WALES Home prices have been growing at three times the rate of inflation in many parts of Sydney as interest rate cuts from earlier in the year continue to usher in more property buyers into the market. The biggest rises have been observed in some of the most affordable unit markets, with the rate cuts launching a scramble for the cheapest real estate deals near major commuter hubs. Units in Ashcroft, Wahroonga, Belrose, Cartwright and Sadlier all jumped by 10 per cent or more in just three months, as affordable pockets under the city's lofty median price of $1.182m captured buyers. Read the full story here. QUEENSLAND Sixteen suburbs have joined the $1 million-plus club in the past three months as Queensland's red hot property market shows no signs of slowing down, with the state now home to 299 locales with seven-figure median home values. PropTrack's June Quarterly Home Index shows that median house values have now hit seven figures in once affordable suburbs right across Brisbane, Moreton Bay, Logan-Beaudesert, Ipswich, the Gold Coast and Sunshine Coast, and Toowoomba. Each one saw their median house value edge over $1 million in the three months to June. It comes after PropTrack revealed that Brisbane now has a $1 million median price tag (houses and units combined), finishing the month of June at $1.015 million – an increase of $74,800. And the data shows that there are 10 suburbs with median home values above $2 million, with Chandler leading the pack with$3,149,155. Tennyson is the most expensive unit market with a median value of $2,104,972. Read the full story here. TASMANIA Elections don't tend to be great news for property market growth, but they couldn't stop Hobart's green shoots from popping up. Exclusive June quarter PropTrack figures show 38 out of 56 greater Hobart suburbs recorded median house price growth, despite a federal election and the announcement of a state election. The 38 growth areas far outstripped the seven suburbs with a declining median value and the 11 that sat unchanged from the previous quarter. Eastern Shore lifestyle suburb Sandford was the top-performing area with a 4 per cent increase over the three-month period. Read the full story here. VICTORIA Melbourne's property market has been tipped to reach a record high by Christmas after a rise in home values across hundreds of suburbs. Across the June quarter, Melbourne's top suburbs for median house price growth of between 4 to 5 per cent included Glen Huntly (with a new $1,507,058 median), Wandong ($871,817), Braeside ($1,530,522), Williamstown North ($1,143,023) and Frankston North ($603,715). For purchasers seeking a smaller residence, Wallan in Melbourne's outer north performed best for units with median prices zooming up 10 per cent to $483,070. In regional Victoria, houses in the East Gippsland town of Orbost increased 8 per cent to hit $350,875 and Castlemaine units soared 9 per cent to $647,860. Read the full story here. SOUTH AUSTRALIA South Australia's property boom is showing no signs of abating, with house values in more than 250 areas and unit values in another 78 recording double-digit growth over the past year. New PropTrack figures reveal some suburbs and towns even managed to crack the 20 per cent growth threshold over the 2024-2025 financial year. Unit values in Everard Park had the highest growth at 25 per cent, taking the estimated median value to $628,794. Salisbury North units followed closely behind, with its estimated median value rising 24 per cent to $546,698, while Elizabeth South and Waikerie house values both rose 23 per cent to $543,354 and $386,100 respectively. Read the full story here.
