Don’t know where to buy? Here are the top 20 suburbs set to soar.

According to Well Money Green Shoots Report November 2022

After property markets around Australia recently experienced slight downward trends in sale prices, buyers are keener than ever to understand where to buy property.

A lack of stock on the market has ensured prices and competition have held steadfast through rising interest rates and cautious sentiment from both buyers and sellers. 

Scott Spencer, CEO of Well Money, states, “When supply falls and demand rises, vendors take notice. As a result, in all but two of the 20 suburbs, vendors raised their asking prices over the quarter.”

While more interest rate hikes are set to come,  buyer and seller confidence is regaining in the market.  Some areas are reporting an uptick in sale prices with healthier markets on the horizon.

Notably, six of the top 20 suburbs are in South Australia, with the state having three of those suburbs in the top five. Western Australia follows closely with five suburbs making the list. 

The following 20 suburbs are showing signs that imminent growth is around the corner, based on data from July to October 2022.

How can we tell these suburbs are set to soar?

The three key factors used to determine which suburbs look set to grow are:

• Inventory levels
• Days on market
• Median asking price

Scott explains, “The reason inventory levels are such an important leading indicator is because they tell you what’s happening with the balance of power in a particular market.” He continues “When inventory levels are falling, that means buying conditions are becoming harder, which forces buyers to compete harder and puts upward pressure on prices.”

Scott concludes, “In all 20 of the suburbs, days on market have either remained unchanged over the past three months or fallen. When properties sell more quickly, that’s another sign of growing buyer competition.”

To get a more in-depth understanding of what significance each of those factors has on pricing predictions, read our earlier piece explaining each metric.

Top 20 suburb set to soar as of November, 2022.

1. Burekup, WA 6227 – Houses

Changes in the last 3 months:

• Inventory level = fallen 57.1%  from 8.4 months to 3.6 months
• Days on market = unchanged at 59 days
• Median asking price = down 3.2% at $511,110

Are you a Burekup local? Leave a suburb review on Homely to help property seekers find out more about the area. 

Browse Burekup property listings on Homely. 

2. St Albans, VIC 3021 – Units

Changes in the last 3 months:

• Inventory level = down from 3.7 months to under one month
• Days on market = down 8.9% from 56 days to 51 days
• Median asking price = up 3.6% from $499,950 to $518,160

Find out why St Albans is great for people looking for great public transport and its cost of living in our suburb reviews.

Browse St Albans Listings and check out what people say about the area.

3. Moonta, SA 5558 – Houses

Changes in the last 3 months:

• Inventory level = down 35.7% from 8.8 months to 5.7 months
• Days on market = down from 63 days to 51 days
• Median asking price = up 3.2% from $310,000 to $320,000

Find out why Moonta is the just place to find plenty of neighbourly spirit and great schools in our suburb reviews.

Moonta Listings and check out what people say about the area.

4. North Brighton, SA 5048 – Houses

Changes in the last 3 months:

• Inventory level = down from 5.8 months to 2.7 months
• Days on market = unchanged at 19 days
• Median asking price = slightly up from $1,050,000 to $1,072,500

Find out why North Brighton is rated highly for being quiet, clean, green and safe in Homely suburb reviews. 

Browse North Brighton Listings and check out what people say about the area.

5. Glenelg, SA 5045 – Houses

Changes in the last 3 months:

• Inventory level = down from 6.8 months to 3.8 months
• Days on market = down 6.9% from 29 days to 27 days
• Median asking price = up 15.6% from $952,940 to $1,101,998

Find out why Glenelg is described as a ‘thriving beachside suburb’ and more in our suburb reviews. 

Browse Glenelg Listings and check out what people say about the area.

6. Johnston, NT 0832 – Houses

Changes in the last 3 months:

• Inventory level = down 50% from 5.7 months to 2.8 months
• Days on market = unchanged at 66 days
• Median asking price = slightly down at $612,500

One Johnston local described the area as “quiet, peaceful and crime-free.” Find out why in our suburb reviews.

Browse Johnston listings and check out what people say about the area.

7. Sunshine, NSW 2264 – Houses

Changes in the last 3 months:

• Inventory level = down 50.1% from 5.7 months to 2.8 months
• Days on market = unchanged at 31 days 
• Median asking price = unchanged at $930,000

Find out why Sunshine is great for peace and quiet, neighbourly spirit and its parks in our suburb reviews. 

Browse Sunshine listings and check out what people say about the area.

8. Junction Village, VIC 3977 – Houses

Changes in the last 3 months:

• Inventory level = down from 7.6 months to 4.9 months
• Days on market = down 8.3% from 24 days to 22 days
• Median asking price = slightly up at $720,700

Are you a Junction Village local? Leave a suburb review on Homely to help property seekers find out more about the area.
Browse Junction Village listings and check out what people say about the area.

9. Wembley Downs, WA 6019 – Houses

Changes in the last 3 months:

• Inventory level = down from 3.2 months to under 1 month
• Days on market = unchanged at 50 days
• Median asking price = up 3.1% from $1,212,000 to $1,249,990

Take a look at why Wembley Downs is rated highly for its resale and rental value, plus its cleanliness and good schools in our suburb reviews.
Browse Wembley Downs listings and check out what people say about the area.

10. Wyee, NSW 2259 – Houses

Changes in the last 3 months:

• Inventory level = down 35.3% from 7.2 months to 4.6 months
• Days on market = down 26.3% from 38 days to 28 days
• Median asking price = slightly up at $897,573

Wyee is rated highly for its ‘semi-rural lifestyle’, great cost of living and more. Find out why in the Homely suburb reviews.
Browse Wyee listings and check out what people say about the area.

11. Booval, QLD 4304 – Units

Changes in the last 3 months:

• Inventory level = down 49.9%  from 5.1 months to 2.5 months
• Days on market = unchanged at 53 days
• Median asking price = up 4.2% from $239,000 to $249,000

Are you a Booval local? Leave a suburb review on Homely to help property seekers find out more about the area.
Browse Booval listings here.

12. Two Wells, SA 5501 – Houses

Changes in the last 3 months:

• Inventory level = down 55.6% from 4.5 months to 2 months
• Days on market = down 30% from 40 days to 28 days
• Median asking price = up 5.6% from $460,080 to $486,000

Locals in Two Wells describe the area as being perfect for those wanting ‘acreage near the city’ – find out more in suburb reviews.
Browse Two Wells listings and check out what people say about the area.

13. Cairnlea, VIC 3023 – Units

Changes in the last 3 months:

• Inventory level = from 8.3 months to 6 months 
• Days on market = down 10.6% from 66 to 59 days
• Median asking price = down 2% from $439,000 to $430,260

Take a look at why Cairnlea rated highly for its lakes and parklands and how quiet and peaceful it is in our suburb reviews. 

Browse Cairnlea listings and check out what people say about the area.

14. Munno Para, SA 5115 – Houses

Changes in the last 3 months:

• Inventory level = down 46.4% from 4.8 months to 2.6 months
• Days on market = unchanged at 35 days
• Median asking price = up 5.9% from $363,200 to $384,500

Munno Para is known on Homely for having great schools and childcare, check out what else people have to say about Munno Para in our suburb reviews. 

Browse Munno Para listings and check out what people say about the area.

15. Noranda, WA 6062 – Houses

Changes in the last 3 months:

• Inventory level = down 36.3% from 6 months to 3.8 months
• Days on market = unchanged at 66 days
• Median asking price =  up 1.6% from $320,000 to $325,000

Noranda locals describe the area as safe, friendly with great parks and shopping centres. Find out more about Noranda in Homely suburb reviews. 

Browse Noranda listings and check out what people say about the area.

16. Binningup, WA 6233 – Houses

Changes in the last 3 months:

• Inventory level = down 61.6% from 3.2 months to 1.2 months
• Days on market = down 3.6% from 55 days to 53 days
• Median asking price = up 4% from $399,000 to $415,000

Read up on why Binningup is rated highly for being an ‘untapped beautiful seaside town’ in our suburb reviews. 

Browse Binningup Listings and check out what people say about the area.

17. Alkimos, WA 6038 – Houses

Changes in the last 3 months:

• Inventory level = down 33.5% from 5.7 months to 3.8 months
• Days on market = unchanged at 52 days
• Median asking price = up 3.5% at $459,430

Take a look at why Alkimos is great for families and singles alike looking for peace and quiet, neighbourly spirit and more in our suburb reviews. 

Browse Alkimos listings and check out what people say about the area.

18. Waterways, VIC 3195 – Houses

Changes in the last 3 months:

• Inventory level = down 66.5% from 2.8 months to 1 month
• Days on market = unchanged at 29 days
• Median asking price = up 1.8% from $1,513,600 to $1,540,800

Find out why Waterways is great for its lack of traffic, neighbourly spirit and more in our suburb reviews. 

Browse Waterways listings and check out what people say about the area.

19. Brighton-Le-Sands, NSW 2216 – Houses

Changes in the last 3 months:

• Inventory level = down from 2.1 months to under 1 month
• Days on market = unchanged at 24 days
• Median asking price = up 3% from $738,000 to $750,000

Brighton-le-sands is described by Homely locals as an “under-appreciated little gem of a suburb.” Read more about Brighton-Le-Sands in suburb reviews. 

Browse Brighton-Le-Sands listings and check out what people say about the area.

20. Henley Beach, SA 5022

Changes in the last 3 months:

• Inventory level = down from 2.6 months to under 1 month
• Days on market = down 28.1% from 32 days to 23 days
• Median asking price = up 1.6% from $485,000 to $492,900

Homely locals think Henley Beach might just be the best beach in Adelaide! Find out more about Henley Beach in our suburb reviews. 

Browse Henley Beach listings and check out what people have to say about the area.

*All market forecasting data in the quoted report was provided by industry and media-trusted property research consultancy, Suburbtrends