Forget the headlines. Here are 20 suburbs set to soar

According to Well Money Green Shoots Report July 2022

As both the official cash rate and interest rates continue to rise, we are experiencing a ‘cooling off’ across the Australian property market. While this rings true most commonly in the Sydney and Melbourne markets right now, it is important to look hyperlocal when asking questions like ‘when should I buy?’ and ‘is it the right time to sell?’. 

Why? Because although markets are slowing across the board, there are still suburbs showing telltale signs as well as hard evidence of growth in recent sale prices. 

Scott Spencer, CEO of Well Money, explains that “The latest Well Money Green Shoots report shows you that Australia is not one big housing market. There are actually hundreds of different markets spread around the eight states and territories.”

He continues, “In every one of these [top 20] suburbs, inventory levels and days on market have fallen over the past three months, which means conditions have moved in favour of sellers in those areas.”

In our latest piece about navigating the cooling markets across the country, Justin Davies – Director of Space Realty, was quick to point out that the Western Australia market is definitely not cooling or seeing any downturn. By the looks of this report, WA is still on the up, with 9 out of the 20 top ‘set to soar’ suburbs being in WA. 

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, “when inventory levels are falling in a location, that’s a clear sign the pendulum is moving in the direction of vendors, because stock levels are declining.”

He adds, “When days on market are falling, it suggests demand is increasing relative to supply.”

In cases where both the inventory levels and days on market decrease, Scott says, “Vendors are likely to respond by raising asking prices. That, in turn, is likely to lead to higher selling prices.”

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.

1. Seven Hills, NSW 2147 – Units

Changes in the last 3 months:

• Inventory level = fallen 74.8%  from 7.6 months to 1.9 months
• Days on market = down 9.8% from 51 to 46 days
• Median asking price = fairly unchanged with a 0.8% rise to $640,000

Seven Hills is highly rated for its neighbourly spirit, medical facilities, clean and green surrounds and more. Find out why in the Homely suburb reviews. 

Browse Seven Hills property listings on Homely.

2. Scarborough, WA 6019 – Houses

Changes in the last 3 months:

• Inventory level = from 7.1 months to 2 months
• Days on market = down 2.1% from 48 days to 47 days
• Median asking price = up 6.3% from $808,000 to $859,000

Find out why Scarborough is great for people looking for great public transport and clean and green surrounds in our suburb reviews.

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

3. Park Ridge, QLD 4125 – Houses

Changes in the last 3 months:

• Inventory level = down from 6.2 months to 1.7 months
• Days on market = down from 44 days to 34 days
• Median asking price = up 5.9% from $487,991 to $516,900

Find out why Park Ridge is the just place to find peace and quiet, neighbourly spirit and great childcare in our suburb reviews.

Park Ridge listings and check out what people say about the area.

4. Tuart Hill, WA 6060 – Houses

Changes in the last 3 months:

• Inventory level = from 6.6 months to 2.4 months
• Days on market = down 7.3% from 41 days to 38 days
• Median asking price = slightly down from $693,600 to $679,000

Find out why Tuart Hill is rated highly for rental and resale value, public transport, parks and recreation and more in Homely suburb reviews. 

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

5. Gosford, NSW 2250 – Units

Changes in the last 3 months:

• Inventory level = from 7.2 months to 3 months
• Days on market = down 3.4% from 29 days to 28 days
• Median asking price = up 92.7% from $560,000 to $575,000

Find out why Gosford is great for childcare, medical facilities, schools and more in our suburb reviews. 

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

6. Bermagui, NSW 2546 – Houses

Changes in the last 3 months:

• Inventory level = down 56.2% from 7.3 months to 3.2 months
• Days on market = down 18.8% from 48 days to 39 days 
• Median asking price = up 2.6% from $906,000 to $929,200

Find out why Bermagui is highly rated for its neighbourly spirit, lack of traffic and clean and green surrounds in our suburb reviews.

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

7. Carlingford, NSW 2118 – Units

Changes in the last 3 months:

• Inventory level = down 48.4%% from 8.2 months to 4.3 months
• Days on market = slightly down from 30 to 29 days
• Median asking price = down from $732,250 to $708,000

Find out why Carlingford is great for peace and quiet, schools, great parking and more in our suburb reviews. 

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

8. Buddina, QLD 4575 – Units

Changes in the last 3 months:

• Inventory level = from 4.9 months to under 1 month
• Days on market = down 7.3% from 41 days to 38 days
• Median asking price = up 8% $690,000 to $745,000

Find out why Buddina is just the spot for great parks and recreation, public transport, schools and good resale or rental value in our suburb reviews. 

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

9. Point Cook, VIC 3030 – Units

Changes in the last 3 months:

• Inventory level = from down from 4.4 months to under 1 month
• Days on market = down 8.9% from 45 days to 41 days
• Median asking price = up 1.9% from $540,000 to $550,000

Take a look at why Point Cook is rated highly for its safety, quiet, cleanliness and good schools in our suburb reviews.

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

10. Balcatta, WA 6021 – Houses

Changes in the last 3 months:

• Inventory level = down 70.1% from 5.5 months to 1.6 months
• Days on market = down 4.1% from 49 days to 47 days
• Median asking price = up 5.5% $626,200 to $660,950

Balcatta is rated highly for its neighbourly spirit, parks and recreation, schools and more. Find out why in the Homely suburb reviews. 

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

11. Darling Downs, WA 6122 – Houses

Changes in the last 3 months:

• Inventory level = down 77.7%  from 4.7 months to 1 month
• Days on market = down 7.3% from 41 days to 38 days
• Median asking price = up 2.5% from $768,500 to $787,990

Darling Downs is rated as a great place for being safe and sound, having great neighbourly spirit, places to eat out & parks and recreation. Find out why in our suburb reviews. 

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

12. Placid Hills, QLD 4343 – Houses

Changes in the last 3 months:

• Inventory level = down 60% from 6 months to 2.4 months
• Days on market = down 19.6% from 51 days to 41 days
• Median asking price = up 0.2% from $599,000 to $600,000

Are you a local here? Help property seekers find out more about what it’s like to live in Placid Hills by leaving a suburb review. 

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

13. Margaret River, WA 6285 – Houses

Changes in the last 3 months:

• Inventory level = from 3.9 months to under 1 month 
• Days on market = down 8.3% from 72 to 66 days
• Median asking price = up 1.7% from $580,000 to $590,000

Take a look at why Margaret River rated highly for parks and clean, green surroundings in our suburb reviews. 

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

14. Yass, NSW 2582 – Houses

Changes in the last 3 months:

• Inventory level = down 67.1% from 5.4 months to 1.8 months
• Days on market = down 2.7% from 27 to 36 days
• Median asking price = up 10.4% from $690,000 to $761,540

Yass is known on Homely for having great neighbourly spirit, check out what else people have to say about Yass in our suburb reviews. 

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

15. Googong, NSW 2620 – Houses

Changes in the last 3 months:

• Inventory level = down 69.6% from 5 months to 1.5 months
• Days on market = down 14.7% from 34 days to 29 days
• Median asking price =  up 3.8% from $963,050 to $1,000,000

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

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

16. Cannington, WA 6107 – Houses

Changes in the last 3 months:

• Inventory level = down 42.1% from 8.2 months to 4.7 months
• Days on market = down 7.8% from 64 days to 59 days
• Median asking price = up 0.8% from $450,598 to $454,258

Read up on why Cannington is rated highly for shopping options, public transport and great parks in our suburb reviews. 

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

17. Labrador, QLD 4215 – Houses

Changes in the last 3 months:

• Inventory level = down 61.1% from 5.6 months to 2.2 months
• Days on market = down 2.4% from 42 days to 41 days
• Median asking price = up 9.4% at $645,201

Take a look at why Labrador is great for parks and recreation, peace and quiet, parking and more in our suburb reviews. 

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

18. Innaloo, WA 6018 – Houses

Changes in the last 3 months:

• Inventory level = down 58.9% from 5.8 months to 2.4 months
• Days on market = down 9.3% from 54 days to 49 days
• Median asking price = down 5.8% from $605,000 to $640,000

Find out why Innaloo is great for safety, public transport and more in our suburb reviews. 

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

19. Westminster, WA 6061 – Houses

Changes in the last 3 months:

• Inventory level = down 56.9% from 5.9 months to 2.6 months
• Days on market = down 2.1% from 48 days to 47 days
• Median asking price = up 1.6% from $405,414 to $412,000

Westminster is rated highly on Homely for public transport, shopping options, cost of living and more. Read more about Westminster in suburb reviews. 

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

20. Rivervale, WA 6103

Changes in the last 3 months:

• Inventory level = down 44% from 7.6 months to 4.3 months
• Days on market = down from 48 days to 44 days
• Median asking price = up 6% from $600,000 to $635,700

Check out why Rivervalle is rated highly for resale and rental value, great neighbourly spirit and more in our suburb reviews. 

Browse Rivervale 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.