The suburbs around Australia with the biggest price gains in the past five years
Despite the recent downturn, a range of suburbs in every state and territory saw remarkable price gains for both houses and units in the the five years ending in December 2019, Domain data shows.
When it came to houses, the Mornington Peninsula suburb of Sorrento saw the largest median house price increase across the country.
Over five years, it jumped 77.1 per cent to $1,049,750.
It was closely followed by the western Sydney suburb of Pitt Town in New South Wales.
The median house price for the postcode 59 kilometres north-west of Sydney’s CBD grew 70.7 per cent to $1,049,750.
Top house price gains:
In South Australia, the suburb of Somerton Park saw the biggest median house price gain in the state.
The postcode, 12 kilometres south-west from the Adelaide CBD, rose 50.5 per cent to $957.250.
In Queensland, the suburb of Beachmere was the top performing in the state.
The beach town is 38 kilometres north of Brisbane’s CBD but that did not stop it from rising 49.2 per cent to $485,000 over the past five years.
Acreage and Lifestyle Property selling agent Martin Purcell said the coastal rural town was well positioned.
Even in Western Australia, the western Perth suburb of Claremont managed to come out on top despite the state’s significant price decline courtesy of the mining downturn.
The suburb’s median house price rose 12.7 per cent to $1.11 million.
Source: domain.com.au
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