Top growth areas split between rich postcodes and family suburbs

Top growth areas split between rich postcodes and family suburbs

by 0 comments

Sydney and Perth have complete ownership of the suburbs that recorded the greatest house price growth in the past five years.

Potts Point in Sydney leads the way among the top 10 growth suburbs in Australia’s capital cities, according to CoreLogic RP Data.

Median house prices in the exclusive suburb reached $3.1 million in February after jumping 142 per cent over the previous five years.

The next three spots on the list were all filled by Perth suburbs.

Piara Waters rose 136 per cent to $550,000, Dayton rose 135 per cent to $518,000 and Harrisdale rose 130 per cent to $570,000.

Mays Hill in Sydney placed fifth, with median house prices increasing 128 per cent to $895,000.

It was followed by a significantly more prestigious Sydney suburb, Kirribilli, which climbed 120 per cent to $3.4 million.

Burns Beach in Perth ranked seventh after house prices grew 114 per cent to $868,000.

Sydney addresses took the final three spots on the top 10 list.

Canada Bay rose 108 per cent to $1.5 million, Waitara rose 101 per cent to $1.4 million and Rhodes rose 98 per cent to $1.5 million.

[Related: Weak economy can’t hold back house prices]

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
How this agent's commitment to clientele built him a 25k-strong client base

In this episode of Secrets of the Top 100 Agents, host Tim Nearly talks to RT Edgar’s Glen Coutinho who ranked number six in this year’...

View all podcasts

How difficult is it to maintain a good work/ life balance?

Very – if I’m having balance my competitors are working
Not – I schedule the time into my calendar in advance
A little – It’s scheduled, but something always crops up
Work/ life balance – what’s that?
Do you have an industry update?