10 high-performing suburbs where prices are adding $50k per month

According to data released by realestate.com.au, 250 suburbs have seen their median house price rise by over $200,000 over the last 12 months, with 24 suburbs experiencing significant price growth of $50,000 each month.

Eighty-eight per cent of these high-performing suburbs were located in NSW, with the Northern Beaches and eastern suburbs like Seaforth, Palm Beach and Mosman accounting for the lion’s share.

But Byron Bay took the crown here, almost doubling over the last 12 months to a median house price of $2.7 million in May 2021.

Other standout suburbs in NSW included Northbridge, Burraneer, Killara, East Lindfield and Glenorie.

In Victoria, beachside suburbs like Somers, Black Rock and Blairgowrie led the pack, with an annual median house price change of over $450,000 apiece.

South Australia proved another strong performer, with the suburb of St Peters recording a $700,000 rise over the last 12 months. Other suburbs in the state recording high growth included Walkerville, Fullarton, Toorak Gardens and Linden Park.

Meanwhile, Sunshine Beach topped the list when it came to Queensland suburbs, with a $697,000 rise putting median house prices for the suburb at $2,500,000. It was followed by Willow Vale, which doubled in value over the last 12 months to a new median house price of $947,500.

A list of the top 10 high-performing suburbs can be found below.

According to the Australian Bureau of Statistics’ most recent Residential Property Price index, the total value of Australia’s property market rose 7.5 per cent over the 12 months to March 2021.

Commenting on the data, the ABS’ head of prices statistics, Michelle Marquardt, noted that the total value of residential dwellings in Australia surpassed $8 trillion for the first time. 

“The average price of residential dwellings in NSW rose to $1.01 million. This was the first time any state or territory had seen the average price of dwellings rise above $1 million,” she said.