1 in 8 areas reach double-digit growth

“The property markets of 550 city councils spread across our eight states and territories is akin to the stock exchange for Australia’s property markets. 67 out of 550 had double-digit growth,” said Pressley, Propertyology’s head of research.

While capital cities are popular for property investing, 45 out of the top 67 locations achieving double-digit price growth were located outside of capital cities. These regional areas offer strong employment growth for tourism, health, agriculture and specialised manufacturing, as well as mining receiving a positive outlook while recovering.

“We’ve been saying for quite some time that the outlook for many parts of regional Australia is increasingly better than most capital city markets,” Mr Pressley said.

Of all the states and territories, Victoria saw the most locations seeing double-digit price growth at 28, followed closely by NSW at 27, then Tasmania with seven, South Australia with four and Western Australia with just one.

These double digit areas should not be passed over so easily however, as despite their abundance, Mr Pressley warned reaching double digit growth is something that is a rarity.

“Several capital cities still haven’t seen it since before the GFC. The strongest growth cycle unfolding right now is in strategically-chosen regional locations.,” he said.

“The Asian Century is real, it’s having a positive impact in key industries and this is flowing through to certain property markets, including regional Australia. The opportunities are significant, and we are only nineteen years into it.

“Local confidence and job growth increases demand for housing. Our buyer’s agents have already seen the positivity within regional communities flow through to property prices.”

Propertyology’s research also revealed out of the 67 locations, the majority at 45 had a median house price under $600,000.

The list of the 67 locations seeing double digit price growth according to Propertyology are:

Area	Median house price	Percentage of price growth over 12 months	Area	Median house price	Percentage of price growth over 12 months
Hume VIC	$ 566,000	25.0%	Newcastle NSW	$ 640,000	12.6%
Uralla NSW	$ 367,000	24.1%	Glenelg VIC	$ 195,000	12.5%
Whittlesea VIC	$ 625,000	23.0%	Wentworth NSW	$ 272,500	12.5%
Cardinia VIC	$ 535,000	20.9%	Berri & Barmera SA	$ 191,500	12.3%
Dorset TAS	$ 220,000	20.0%	Eurobodalla NSW	$ 510,000	12.2%
Nillumbik VIC	$ 780,000	19.3%	Launceston TAS	$ 307,000	12.0%
Casey VIC	$ 620,000	19.0%	Kyogle NSW	$ 300,000	11.8%
Snowy River NSW	$ 495,000	18.9%	Bega Valley NSW	$ 470,000	11.8%
Melton VIC	$ 505,000	18.4%	Burnside SA	$ 960,000	11.7%
Cooma-Monaro NSW	$ 320,500	18.4%	Lithgow NSW	$ 342,000	11.7%
Grant SA	$ 275,000	18.0%	Glamorgan TAS	$ 411,000	11.6%
Berrigan NSW	$ 238,750	17.7%	Port Augusta SA	$ 195,000	11.4%
Glenorchy TAS	$ 376,000	17.3%	Bass Coast VIC	$ 418,000	11.3%
Wyndham VIC	$ 560,000	17.2%	Macedon Ranges VIC	$ 550,000	11.2%
Mitchell VIC	$ 430,000	15.9%	Mornington Peninsula VIC	$ 781,000	11.2%
Kingborough TAS	$ 576,600	15.7%	Golden Plains VIC	$ 445,000	11.2%
Palerang NSW	$ 727,500	15.6%	Queanbeyan NSW	$ 665,000	11.2%
Gloucester NSW	$ 286,000	15.5%	Knox VIC	$ 801,000	11.1%
Dungog NSW	$ 420,000	15.5%	Tweed NSW	$ 650,000	11.1%
Wellington NSW	$ 193,750	15.4%	Dandenong VIC	$ 700,000	11.1%
Auburn NSW	$ 985,000	15.0%	Murrindindi VIC	$ 980,000	11.0%
Forbes NSW	$ 260,000	14.8%	Coffs Harbour NSW	$ 342,500	11.1%
Sorrell TAS	$ 357,500	14.8%	Inverell NSW	$ 270,000	11.0%
Moreland VIC	$ 887,500	14.7%	Colac-Otway VIC	$ 325,000	10.9%
Baw Baw VIC	$ 405,500	14.7%	Darebin VIC	$ 997,500	10.9%
Melbourne VIC	$1,180,000	14.6%	Muswellbrook NSW	$ 300,000	10.7%
Yarra Ranges VIC	$ 685,227	14.2%	Indigo NSW	$ 307,000	10.5%
Brimbank VIC	$ 654,000	14.1%	Moorabool VIC	$ 432,250	10.5%
Frankston VIC	$ 625,000	13.9%	Taree NSW	$ 396,000	10.5%
Roebourne WA	$ 353,000	13.5%	Wyong NSW	$ 590,000	10.2%
Hobart TAS	$ 690,000	13.3%	Strathbogie VIC	$ 307,500	10.1%
Shoalhaven NSW	$ 575,000	13.2%	Corangamite VIC	$ 191,250	10.1%
Kiama NSW	$ 991,000	13.1%	Gosford NSW	$ 800,000	10.0%
Geelong VIC	$ 522,000	13.0%			You need to be a member to post comments. Become a member for free today! Comments powered by CComment Related articles Author Sasha Karen Know more More from this writer: Where to find winners in the WA market How rents have performed for investors so far this year How to save money with a new repayment strategy Popular capital cities on the rise as market softens over June Cash rate call for July 2019 revealed New property sales rebound over May How far can a $500,000 budget get you in Sydney?