While house prices stall, these 20 suburbs are set to soar

According to Well Home Loans Green Shoots Report May 2022

The real estate market is in a confusing place right now for buyers and sellers. We recently published an article about the new property market cycle we are currently in, explaining that the rising and falling of property prices is a cyclical occurrence that has been visible in the Australian property market for decades. 

With that said, it is important to pay close attention to local markets as the dominant market trends don’t necessarily ring true for all pockets of the country. 

Homely’s Head of Industry, David Webb, explains, “Generally speaking, the market is cooling, but we have to remember that there are always areas that buck the trends.” 

David continues, “Those ‘outlier’ areas are usually ones that have been forgotten or skipped because they are quite literally ‘missed’ on most peoples’ way from A to B. Areas like this tend to play catchup with the rest of the market, resulting in their own little market ecosystem. This presents great potential for buyers who might be feeling disheartened or concerned about the current property market at large.”

Scott Spencer, CEO of Well Home Loans, says, “While property markets in many places of the country are cooling, the Well Home Loans Green Shoots Report has found some markets that are likely to heat up in the months ahead.” 

Noting that both days on market and inventory levels have fallen in all 20 of these suburbs, he continues, “Vendors have noticed, raising their asking prices in all but two of the locations. This is likely to translate to higher selling prices in the second half of the year.”

David adds, “Reports like this highlight how important it is to do thorough research and hone in on local property markets when house hunting because there are still great opportunities to be found for buyers even in this cooling market.”

Below, we’ll explore the three key factors that flag these suburbs as ‘set to soar’ when it comes to house prices – inventory levels, days on market and asking price. 

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

Top 20 Suburbs Set to Soar According To the Well Home Loans Green Shoots Report May 2022

1. Campbells Creek, VIC 3451 – Houses

Changes in the last 3 months:

• Inventory level = fallen from 2.5 months to less than 1 month
• Days on market = down 5.1% from 39 to 37 days
• Median asking price = 1.5% up from $649,000 to $659,000

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

2. Corinda, QLD 4075 – Houses

Changes in the last 3 months:

• Inventory level = from 1.2 months to under 1 month
• Days on market = down 8% from 25 days to 23 days
• Median asking price = up 17.9% from $1,024,650 to $1,208,340

Find out why Corinda is great for people looking for safety, great public transport and clean and green surrounds in our Suburb Reviews section.

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

3. Albion Park Rail, NSW 2527 – Houses

Changes in the last 3 months:

• Inventory level = down from 1.2 months to under 1 month
• Days on market = down from 22 days to 20 days
• Median asking price = up 9.1% from $708,125 to $772,500

Find out why Albion Park Rail is the just place to find peace and quiet and plenty of neighbourly spirit in our Suburb Reviews.

Albion Park Rail Listings and check out what people say about the area.

4. Tuncurry, Great Lakes NSW 2428 – Houses

Changes in the last 3 months:

• Inventory level = from 2.1 months to under 1 month
• Days on market = down 22.4% from 49 days to 38 days
• Median asking price = up 17.7% from $599,000 to $705,000

Find out why Tuncurry is rated the 18th best suburb in the Hunter Region in Tuncurry Suburb Reviews. 

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

5. Lithgow, Mudgee NSW 2790 – Houses

Changes in the last 3 months:

• Inventory level = from 1.5 months to under 1 month
• Days on market = down 54% from 74 days to 34 days
• Median asking price = up 9.4% from $392,049 to $429,000

Find out why Lithgow is great for childcare, eating out, parks, neighbourly spirit and more in our Suburb Reviews. 

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

6. Albion Park, NSW 2527 – Houses

Changes in the last 3 months:

• Inventory level = unchanged at under 1 month
• Days on market = down 9.1% from 22 days to 20 days 
• Median asking price = up 8.9% from $754,800 to $821,600

Find out why Albion Park is highly rated for  its neighbourly spirit and parks & recreation in our Suburb Reviews.

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

7. Smithfield, NSW 2164 – Units

Changes in the last 3 months:

• Inventory level = down 66.7% from 12 months to 4 months
• Days on market = down 53.1% from 96 days to 45 days
• Median asking price = up 8% from $640,000 to $691,200

Find out why Smithfield is great for peace and quiet, parks, neighbourly spirit and more in our Suburb Reviews. 

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

8. Greenwith, SA 5125 – Houses

Changes in the last 3 months:

• Inventory level = from 1.5 to under 1 month
• Days on market = down 10.3% from 29 days to 26 days
• Median asking price = up 3% $529,000 to $545,000

Find out why Greenwith is just the spot for great parks and recreation and clean, green surroundings and good resale or rental value in our Suburb Reviews. 

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

9. Rylstone, NSW 2849

Changes in the last 3 months:

• Inventory level = from down from 2.1 months to under 1 month
• Days on market = down 41.2% from 68 days to 40 days
• Median asking price = up 6.9% from $449,000 to $480,000

Take a look at why Rylstone is rated highly for its safety, quiet, cleanliness and green surroundings in our Suburb Reviews.

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

10. Gagebrook, TAS 7030 – Houses

Changes in the last 3 months:

• Inventory level = from 1.3 months to under 1 month
• Days on market = down 7.7% from 26 days to 24 days
• Median asking price = up 16.4% $275,000 to $320,000

Are you a Gagebrook local? Help others learn about the area by leaving a review in our Suburb Reviews. 

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

11. Chidlow, WA 6556 – Houses

Changes in the last 3 months:

• Inventory level = down 59.4$ from 4.2 months to 1.7 months
• Days on market = down 30.6% from 62 days to 43 days
• Median asking price = unchanged at $649,000

Chidlow is rated as a great place for being clean and green, having great neighbourly spirit & parks and recreation. Find out why in our Suburb Reviews. 

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

12. Calderwood, NSW 2527 – Houses

Changes in the last 3 months:

• Inventory level = down 58,6% from 7.2 months to 3.0 months
• Days on market = down 30% from 30 days to 21 days
• Median asking price = up 15% from $825,000 to $949,000

Calderwood is highly rated for great public transport, parks and recreation and being safe and sound. Find out why by checking out our Suburb Reviews. 

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

12. Enoggera, QLD 4051 – Houses

Changes in the last 3 months:

• Inventory level = from 1.5 months to under 1 month 
• Days on market = down from 23 to 22 days
• Median asking price = up 7% from $957,900 to $1,025,000

Take a look at why Enoggera rated highly for great schools, public transport, parks and clean, green surroundings in our Suburb Reviews. 

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

14. Glenunga, SA 5064

Changes in the last 3 months:

• Inventory level = down 55.8% from 2.6 months to 1.2 months
• Days on market = down 10% from 20 to 18 days
• Median asking price = up 8.5% from $1,290,000 to $1,400,000

Glenunga is known on Homely for having great schools, check out what else people have to say about Glenunga in our Suburb Reviews. 

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

15. Cranbourne North, VIC 3977 – Units

Changes in the last 3 months:

• Inventory level = down 54.7% from 2.9 months to 1.3 months
• Days on market = down 5.4% from 37 days to 35 days
• Median asking price =  down 1% at $490,000

Find out why Cranbourne North is great for schools, cost of living, neighbourly spirit and more in our Suburb Reviews. 

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

16. Wangi Wangi, NSW 2267 – Houses

Changes in the last 3 months:

• Inventory level = down 54.6% from 2.9 months to 1.3 months
• Days on market = down 11.4% from 35 days to 31 days
• Median asking price = up 12.3% from $799,000 to $897,600

Read up on why Wangi Wangi is rated highly for cost of living, safety and its peace and quiet in our Suburb Reviews. 

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

17. Golden Grove, SA 5125 – Houses

Changes in the last 3 months:

• Inventory level = from 1.3 months to under 1 month
• Days on market = down 5.6% from 36 days to 34 days
• Median asking price = up 2.9% at $575,000

Take a look at why Golden Grove is great for safety, peace and quiet, parks and recreation and more in our Suburb Reviews. 

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

18. Banks, ACT 2906

Changes in the last 3 months:

• Inventory level = from 1.9 months to under 1 month
• Days on market = down 9.1% from 22 days to 20 days
• Median asking price = down 0.1% at $779,100

Find out why Banks is great for schools, safety, neighbourly spirit and more in our Suburb Reviews. 

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

19. Woodrising, NSW 2284 – Houses

Changes in the last 3 months:

• Inventory level = down 53.7% from 2.7 months to 12 months
• Days on market = down 7.4% from 27 days to 25 days
• Median asking price = up 5.7% from $627,300 to $663,000

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

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

20. Cranbourne East, VIC 3977 – Units

Changes in the last 3 months:

• Inventory level = down 53.7% from 6.5 months to 3 months
• Days on market = down from 38 days to 37 days
• Median asking price = up 1% at $504,720

Check out why Cranbourne East is rated highly for public transport, schools, gyms and more in our Suburb Reviews. 

Browse Cranbourne 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