1 minute read

Where are Australia’s best suburbs to invest in?

Where are Australia’s best suburbs to invest in?

by Cameron Micallef | December 20, 2019 | 1 minute read

The top end of town is continuing to grow the fastest, with seven of the top 10 best-performing areas nationally having values above $1 million, new research has shown.

St Kilda
December 20, 2019

According to CoreLogic’s Best of the Best report, the inner city of Melbourne’s St Kilda is Australia’s fastest-growing suburb, rising by 19.6 per cent for the financial year.

Sydney’s fastest-growing suburb is Carlingford, Parramatta, which grew by 15.4 per cent for the calendar year.

Tim Lawless, research director at CoreLogic, believes 2019 will go down as the year when new records were set.

“For 2020, we’re likely to see markets in recovery mode as housing prices catch up and then overtake their previous record highs; however, we expect the rapid rate of capital gains seen over the second half of 2019 to lose steam as stock levels rise and affordability deteriorates,” Mr Lawless said.

Hobart continued to perform well with the largest five-year change in value, as Risdon Vale showed the greatest change in value, growing by 10.6 per cent. Over the 12 months, the suburb grew by 10.9 per cent.

In the country’s north, Brisbane’s inner-city suburb of Hawthorne was the fastest-growing suburb, moving up by 6.0 per cent for the year.

While the countries east is showing strong signs of growth, the west is lagging behind, with PerthPerth, TAS Perth, WA’s Osborne Park having the lowest median value within 10 kilometres of the capital city for units.

Perth’s best-performing suburb was Hazelmere GuildfordGuildford, WA Guildford, NSW North West, which only grew by 1.5 per cent for the year.

About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

Where are Australia’s best suburbs to invest in?
St Kilda
spi logo
share the article

Subscribe to get the latest news and updates - join a community of over 80,000 property investors.

Check this box to receive podcast updates

From the web

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.