The suburbs that have gained momentum

“Just coming out of a downturn, new data from CoreLogic shows that some areas have already bolted by at least 10 per cent despite the 5.2 per cent decline in the broader market. This highlights the different speeds at which markets are moving,” the group wrote.

“In Sydney we’ve seen units in the Northern Beaches and Botany grow significantly over the past year, defying the 6.9 per cent drop in greater Sydney. During this time, Eastgardens units increased by a solid 14.3 per cent to $906,882, while Newport in the Northern Beaches climbed by 11.6 per cent to $929,568.

“Early signs of growth tend to be found in desirable blue-chip suburbs where buyers wait patiently for the market to bottom out. In Melbourne eager buyers are scrambling into exclusive enclaves of Toorak, pushing the median unit prices by 19.2 per cent to $907,675 over the past 12 months.”

Best year-on-year growth

Toorak, VIC (units)
Median value: $907,675
Yearly growth: 19.2 per cent

Surfers Paradise, QLD (houses)
Median value: $1,562,051
Yearly growth: 19.0 per cent

Dodges Ferry, TAS (houses)
Median value: $334,202
Yearly growth: 16.7 per cent

Midway Point, TAS (houses)
Median value: $403,097
Yearly growth: 15.5 per cent

Eastgardens, NSW (units)
Median value: $906,882
Yearly growth: 14.3 per cent

Newport, NSW (units)
Median value: $929,568
Yearly growth: 11.6 per cent

California Gully, VIC (houses)
Median value: $287,541
Yearly growth: 11.5 per cent

Latham, ACT (houses)
Median value: $528,305
Yearly growth: 11.8 per cent

Cairns City, QLD (units)
Median value: $331,144
Yearly growth: 10.3 per cent

Data source: CoreLogic. The above figures present median value and yearly growth as of July 2019.