A report from PropTrack revealed the suburbs that witnessed the highest six-month growth in median value over the first half of the year.
During the first six months of 2023, national property prices have increased by 2.3%. However, the growth has been more significant in certain suburbs, with some experiencing as much as a 14.4% rise in median house value.
In the house segment, Hurlstone Park in Sydney’s Inner West achieved the highest growth at 14.4%, with its median value reaching $2.04m.
Following closely is Fairlight in Sydney’s Northern Beaches, where the median value of a home rose 13.4% to $3.68m.
Smithfield Plains in Adelaide North ranked third — despite hitting a 13.1% growth, its median price remained affordable at $378,000.
Here’s the complete list of suburbs with the biggest gains in median house values over the first six months of 2023:
Biggest gainers in house values – H1 2023
|
Suburb |
SA4 Region |
Current median value ($) |
6-month change (%) |
|
Hurlstone Park |
Sydney - Inner West |
2.04m |
14.4 |
|
Fairlight |
Sydney - Northern Beaches |
3.68m |
13.4 |
|
Smithfield Plains |
Adelaide - North |
378,000 |
13.1 |
|
Kings Langley |
Sydney - Blacktown |
1.42m |
13.1 |
|
Biggenden |
Wide Bay |
309,000 |
13.0 |
|
Andrews Farm |
Adelaide - North |
470,000 |
12.4 |
|
Elizabeth North |
Adelaide - North |
353,000 |
12.3 |
|
Davoren Park |
Adelaide - North |
360,000 |
12.3 |
|
Brookdale |
Perth - South East |
369,000 |
12.1 |
|
Manly |
Sydney - Northern Beaches |
4.67m |
12.1 |
Across the unit markets, Sydney suburbs topped the list, hitting gains of up to 12.7% during the first half of the year. Six of the top 10 suburbs for unit price gains during the period were from Sydney.
Biggest gainers in unit values – H1 2023
|
Suburb |
SA4 Region |
Current median value ($) |
6-month change (%) |
|
Forest Lodge |
Sydney - City and Inner South |
1.20m |
12.7 |
|
Kirribilli |
Sydney - North Sydney and Hornsby |
1.88m |
12.5 |
|
Haymarket |
Sydney - City and Inner South |
1.02m |
12.5 |
|
Palm Cove |
Cairns |
558,000 |
12.5 |
|
Christie Downs |
Adelaide - South |
460,000 |
11.9 |
|
Millers Point |
Sydney - City and Inner South |
1.84m |
11.8 |
|
Point Piper |
Sydney - Eastern Suburbs |
5.61m |
11.4 |
|
Lavender Bay |
Sydney - North Sydney and Hornsby |
1.40m |
11.2 |
|
Brisbane City |
Brisbane Inner City |
596,000 |
11.0 |
|
Newcastle West |
Newcastle and Lake Macquarie |
796,000 |
11.0 |
Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.
Lender Home Loan Interest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Additional Repayments Split Loan Option Tags Features Link Compare Promoted Product Disclosure
4.6 STAR CUSTOMER RATINGS
Promoted
Disclosure
Disclosure
-
Photo by @sersol-photo on Canva.
Collections: Mortgage News Property News Property Investment
Share