Yahoo Finance 20 suburbs expected to defy property downturn
The Aussie property market is seeing prices fall, but these suburbs are expected to buck the trend.
Despite a property downturn throughout much of Australia, not all suburbs are expected to see prices fall.
New research commissioned by Well Money detected 20 locations where price rises were imminent.
The quarterly Well Money Green Shoots Report has identified the top 20 suburbs in Australia currently showing the clearest signs meaningful price growth is just around the corner.
Also read: Hottest 100 suburbs to buy property in 2023
Also read: The most affordable suburbs in Australia from $120,000
The suburbs chosen showed the strongest combination of inventory levels decreasing over the past three months and days on market decreasing over the past three months – and, if possible, asking prices increasing over the past three months as well.
For the January quarter, the Well Money Green Shoots Report included 10 metro and 10 regional locations, as well as five house and 15 unit markets.
Well Money CEO Scott Spencer said there were notably fewer suburbs showing signs of imminent price growth in the January 2023 quarter than the October 2022 quarter.
“Property markets are cooling throughout Australia so, right now, it’s much easier to find locations where prices are likely to fall than rise,” he said.
“That said, there are some markets in which the data is pointing in the opposite direction – towards near-term price rises.”
Top 20 suburbs prices are expected to rise
Here are the top 20 suburbs and the median asking price for homes:
Caulfield, VIC, 3162 - $750,000
Mount Hawthorn, WA, 6016 - $500,000
Ferndale, WA, 6148 - $359,000
Clinton, Qld, 4680 - $229,000
Ballajura, WA, 6066 - $329,000
Toowoomba City, Qld, 4350 - $290,500
Collie, WA, 6225 - $255,000
Ashfield, Qld, 4670 - $605,280
Redcliffe, WA, 6104 - $380,000
Mooloolah Valley, Qld, 4553 - $935,000
Nollamara, WA, 6061 - $400,000
Lockridge, WA, 6054 - $269,000
Booker Bay, NSW, 2257 - $1,375,000
Harristown, Qld, 4350 - $289,000
Mount Lofty, Qld, 4350 - $479,750
Carrum, VIC, 3197 - $950,000
Saunders Beach, Qld, 4818 - $400,000
Darling Heights, Qld, 4350 - $350,000
Warnbro, WA, 6169 - $297,840
Shoalwater, WA, 6169 - $229,000
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