Australia’s Top Growth Markets

Australia has 23 markets where median property prices have doubled in just three years.

Analysis by PropTrack shows the leading growth suburbs are in Queensland and Western Australia.

A common link between many of the high-growth locations is that the markets have more affordable property prices which appeal to both first home buyers and investors.

While some of the markets are in remote areas, where prices are well below those of capital city markets, there are still solid performers closer to the major cities.

Among the top growth suburbs closer to capital city markets is Menangle Park in Wollondilly Shire, about 70km from Sydney. Its median is up 107% in three years to $1,240,000 while Lockridge in Perth’s North East is up 105% to $769,000.

Suburbs where unit prices doubled in three years are closer to capital cities with Queensland suburbs dominating the top ten, led by Woodridge in the Logan LGA which is up 131% to $565,000 and Waterford West also in Logan, up 123% to $625,000.