Top 20 Australian suburbs where house prices are set to soar

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9 min readThe latest Well Home Loans Green Shoots Report uses housing market insights from Suburbtrends to forecast which 20 housing markets around Australia are about to soar. Why are we so hot on these suburbs? According to the report, these 20 Australian suburbs are showing telltale signs of strong suburb price growth just around the corner.

The best news is that these top 20 ‘soon to be booming suburbs’ show great diversity. Well Home Loans CEO Scott Spencer explains that the list includes, “14 metro locations and 6 regional locations scattered around all 8 states and territories. Of the 20 locations, 12 are unit markets and 8 are house markets, catering to a variety of budgets.” He adds, “No matter where you live, there might be a nearby housing market where prices look set to accelerate in the not-too-distant future. That provides you with a potential opportunity if you’re thinking about buying.” 

How can we tell these will be the next booming suburbs? 

The 20 housing markets chosen show the strongest combination of these three factors over the past three months:

  • inventory levels decreasing
  • days on market decreasing 
  • asking prices rising

Mr Spencer explains, “this [report] analyses key leading indicators, so buyers can understand which markets are likely to show strong price growth in the medium-term,” he said.

Let’s dig into what those three key factors mean and what they say about the housing market…

Inventory Levels 

Inventory level is the amount of time it would take to sell all the houses or units in a particular location, if houses/units kept selling at the current rate and no more were added to the market. So if a location had 4.7 months of unit inventory, and units kept selling at the current rate and no more units were added to the market, the backlog of units would be fully sold in 4.7 months. “Inventory levels is a really important leading indicator, because it tells you whether the balance between supply and demand is trending in favour of vendors or buyers. That’s one clue as to how prices are likely to move in the months and years ahead”, says Mr Spencer.

David Webb, Homely’s Head of Industry, reminds us that “it’s also important to analyse the inventory of the type of property that you’re looking for. Even if an area has good inventory levels, the property size or architectural style that ticks your boxes might be low in supply, which can put upwards pressure on the median asking price for that type of house.

Days on market

Days on market is the median amount of time it takes to sell properties in a particular location. When days on market are falling, that means it’s becoming harder for buyers to find properties. This is where we can start to make predictions about housing price hikes

Mr Spencer explains, “When days on market are trending down, it tells you buyers are being forced to fight harder for properties, which puts upwards pressure on prices.”

Mr Webb explains “Days on market can be a self-fulfilling prophecy. That fear of missing out in areas with shorter – or shortening – days on market can create panic, which makes people more prepared to ‘pull the trigger’ on houses, driving that ‘days on market’ figure down even more, and so on.” 

Asking Prices

The previous two create this third factor – an increase in asking prices. The median asking price is the median ‘for-sale price’ of all the properties listed for sale in a particular location. When the median housing price rises, that suggests vendors are becoming more confident, and buyers become more knowledgeable about what they are expected to pay.

Spencer comments, “when vendors feel the market turning in their favour, they start increasing their asking prices.”

Remember, it’s important to consider a range of other factors when looking to buy and most definitely seek professional advice.

Homely’s Webb adds, “Identifying the suburb where prices are set to soar isn’t always enough when it comes to finding the perfect place to live. Using this report will help you narrow your search to suburbs with potential, but remember to look for the ‘one percenters’ that help properties prosper. Every suburb has better and less desirable streets, and styles of home that either do or don’t fit your criteria. Combining this report with Homely’s suburb reviews, Q+A section and our sophisticated search filtering will help you figure out if your next home really is waiting in one of these suburbs.”

So, here they are. Feast your eyes!


Top 20 Australian Suburbs Where House Prices Are Set To Soar

According to Well Home Loans Green Shoots Report

1. Mount Johns, NT 0870 – Houses (Alice Springs)

Of all the suburbs in Australia, the house market of Mount Johns, in Alice Springs, is showing the clearest signs that strong price growth is just around the corner.

Changes in the last 3 months:

  • Inventory level = fallen from 9.6 months to 3.4 months
  • Days on market = down 21.2% from 99 to 78 days
  • Median asking price = unchanged but likely to rise in near future

35 Irrampenye Street, Mount Johns NT 870

Browse Mount Johns property listings and if you’re a local, help other house hunters by leaving a suburb review.

 

2. Oxley Park, NSW 2760 – Units (Sydney)

Changes in the last 3 months:

  • Inventory level = from 5.4 months to 3.1 months
  • Days on market = down 22.2% from 54 to 42 days
  • Median asking price = up 5.1% from $532,000 to $559,000

Check out reviews of Oxley Park NSW to find out why it’s great for people looking for that neighbourly spirit and parks and recreation.

Browse Oxley Park NSW property listings and check out what people say about the area.

3. Rainbow Beach, QLD 4581 – Units (Gympie region)

Changes in the last 3 months:

  • Inventory level = from 6.1 months to 3.4 months
  • Days on market = down 26.8% from 157 to 115 days
  • Median asking price = up 4.9% from $285,000 to $299,000

Take a look at reviews of Rainbow Beach QLD to find out why this is the just place to find peace and quiet amongst clean, green landscapes.

Browse Rainbow Beach property listings and check out what people say about the area.

4. Elermore Vale, NSW 2287- Units (Newcastle)

Changes in the last 3 months:

  • Inventory level = from 10.6 months to 5.8 months
  • Days on market = unchanged at 24 days
  • Median asking price = up 2.0% from $484,790 to $494,390

Are you an Elermore Vale local? Leave a review to help other home buyers get to know the area.

Browse Elermore Vale NSW property listings and check out what people say about the area.

5. Glenelg, SA 5045  – Units (Adelaide)

Changes in the last 3 months:

  • Inventory level = from 4.7 months to 3.1 months
  • Days on market = down 15.7% from 51 to 43 days
  • Median asking price = up 9.0% from $445,000 to $485,000

Check out the reviews of Glenelg SA to learn why it’s great for shopping, public transport, health & medical facilities and more

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

6. Hackham, SA 5163  – Houses (Adelaide)

Changes in the last 3 months:

  • Inventory level = from 4.3 months to 3.3 months
  • Days on market = down 10.3% from 39 to 35 days
  • Median asking price = up 1.8% from $364,228 to $370,800

Read through the locals’ reviews of Hackham SA to find out why it’s highly rated for childcare, neighbourly spirit and parks & recreation.

Browse Hackham SA property listings and check out what people say about the area.

7. Rockingham, WA 6168 – Units (fringes of Perth)

Changes in the last 3 months:

  • Inventory level = from 6.1 months to 3.8 months
  • Days on market = down 18.1% from 105 to 86 days
  • Median asking price = up 6.4% from $299,000 to $318,000

Check out Rockingham WA suburb reviews to find out why the area is great for eating out, safety, neighbourly spirit and more

Browse Rockingham WA property listings and check out what people say about the area.

8. Madeley, WA 6065 – Houses (Perth)

Changes in the last 3 months:

  • Inventory level = from 5.6 months to 3.3 months
  • Days on market = down 7.7% from 65 to 60 days
  • Median asking price = up 1.8% $571,200 to $581,400

Are you a Madeley local? Leave a review on Homely to help other home buyers get to know your area.

Have a look at our reviews of Madeley WA to learn why this suburb is just the spot for great schools, parks and recreation and clean, green surroundings in our

Browse Madeley WA property listings and check out what people say about the area.

9. North Haven, SA 5018  – Houses (Adelaide)

Changes in the last 3 months:

  • Inventory level = from 5.0 months to 3.4 months
  • Days on market = down 20.7% from 29 to 23 days
  • Median asking price = up 5.7% from $525,000 to $555,000

Take a look at the reviews of North Haven SA to find out why it’s rated highly for its safety, quiet, cleanliness and green surroundings.

Browse North Haven SA property listings and check out what people say about the area.

10. Hope Island, QLD 4212 – Units (Gold Coast)

Changes in the last 3 months:

  • Inventory level = from 5.0 months to 3.0 months
  • Days on market = down 11.0% 82 to 73 days
  • Median asking price = up 1.8% $525,000 to $534,600

Check out reviews of Hope Island QLD to find out why the suburb is a favourite when it comes to neighbourly spirit, safety, peaceful living & green surroundings. 

Browse Hope Island QLD property listings and check out what people say about the area.

11. Pooraka, SA 5095  – Houses (Adelaide)

Changes in the last 3 months:

  • Inventory level = from 5.0 months to 3.4 months
  • Days on market = down 12.5% from 32 to 28 days
  • Median asking price = up 5.3%  $375,000 to $395,000

Take a look at our reviews of Pooraka SA to find out why it’s rated as a great place for cost of living, neighbourly spirit, public transport & parks and recreation.

Browse Pooraka SA property listings and check out what people say about the area.

12. Modbury North – Houses (Adelaide, SA)

Changes in the last 3 months:

  • Inventory level = from 3.7 months to 3.3 months
  • Days on market = down 14.3% from 35 to 30 days
  • Median asking price = up 3.5% from $423,950 to $438,700

Check out reviews of Modbury North SA to learn why the suburb is highly rated for great childcare, medical facilities and parks and recreation.

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

13. Wynnum, QLD 4178 – Units (Brisbane)

Changes in the last 3 months:

  • Inventory level = from 11.8 months to 6.7 months
  • Days on market = down 10.7% from 75 to 67 days
  • Median asking price = up 3.4% from $455,000 to $470,400

Take a look at some local reviews of Wynnum QLD to find out why it’s rated highly for great schools, gyms, parks and clean and green surroundings

Browse Wynnum QLD property listings and check out what people say about the area.

14. Florey, ACT 2615 – Units (Canberra)

Changes in the last 3 months:

  • Inventory level = from 3.0 months to under 1 month
  • Days on market = down 11.1% from 27 to 24 days
  • Median asking price = up 7.9% from $430,000 to $463,840

According to reviews of Florey ACT, the area is known on Homely for having great schools, check out what else people have to say about Florey

Browse Florey ACT property listings and check out what people say about the area.

15. Carrum Downs, VIC 3201 – Units (Melbourne)

Changes in the last 3 months:

  • Inventory level = from 5.1 months to 3.1 months
  • Days on market = down 3.7% from 27 to 26 days
  • Median asking price = unchanged at $480,000

Have a scroll through Carrum Downs VIC suburb reviews to find out why the area is great for schools, childcare, neighbourly spirit and more

Browse Carrum Downs VIC property listings and check out what people say about the area.

16. Seville Grove, WA 6112 – Houses (Perth)

Changes in the last 3 months:

  • Inventory level = from 5.3 months to 3.5 months
  • Days on market = down 11.3% from 53 to 47 days
  • Median asking price = up 2.6% from $326,450 to $335,000

Read up on reviews of Seville Grove WA from our locals to find out why it’s rated highly for cost of living, safety and peace and quiet

Browse Seville Grove WA property listings and check out what people say about the area.

17. Werribee, VIC 3030 – Units (Melbourne)

Changes in the last 3 months:

  • Inventory level = from 5.3 months to 3.7 months
  • Days on market = down 30.9% from 68 to 47 days
  • Median asking price = unchanged at $400,000

Take a look at reviews of Werribee VIC to find out why the area is great for safety, peace and quiet, parks and recreation and more

Browse Werribee VIC property listings and check out what people say about the area.

18. St Marys, NSW 2760 – Units (Sydney)

Changes in the last 3 months:

  • Inventory level = from 5.0 months to 3.1 months
  • Days on market = unchanged at 28 days
  • Median asking price = up 3.3% from $483,000 to $499,000

Check out our reviews of St Marys NSW to find out why St Marys is great for schools, safety, neighbourly spirit and more

Browse St Marys NSW property listings and check out what people say about the area.

19. Carlton, TAS 7173 – Houses (Sorell region)

Changes in the last 3 months:

  • Inventory level = from 1.5 months to under 1 month
  • Days on market = down 30.3% from 33 to 23 days
  • Median asking price = up 2.2% from $450,000 to $460,000

Great for childcare, parks, lack of traffic and more – discover what the locals have to say in our reviews of Carlton TAS.

Browse Carlton TAS property listings and check out what people say about the area.

Are you a Carlton local? Leave a review on Homely to help other home buyers get to know the area.

20. Sandringham, VIC 3191 – Units (Melbourne)

Changes in the last 3 months:

  • Inventory level = from 5.6 months to 4.1 months
  • Days on market = unchanged at 31
  • Median asking price = up 1.7% from $688,000 to $700,000

Ranked 3rd best suburb by locals in Melbourne (Greater) Region, VIC on Homely

Check out reviews of Sandringham VIC to find out why it’s rated highly for public transport, schools, gyms and more

Browse Sandringham VIC property 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.

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Marika Berney
Marika is the Marketing & Communications Manager at Homely and property enthusiast. Homely is an industry-backed platform with user-friendly property listings, millions of helpful suburb reviews from locals and agent profiles to help better connect homeowners with the resources they need to sell, buy and lease.

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