10 suburbs where home prices have doubled the quickest
Bucking the recent and widespread tightening of the property market, new research has unveiled a number of NSW, Queensland, Northern Territory, and Victorian suburbs that have achieved astronomical growth over the last year.
PropTrack has highlighted that 10 suburbs across the eastern parts of the country have managed to double in value in just over a year, despite home prices falling throughout much of the period.
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In some areas, strong demand and the limited stock on offer has seen suburbs buck this trend.
Most notable is the suburb of Boat Harbour, located in the Hunter Region of NSW.
Boat Harbour has seen “the speediest growth nationally”, according to PropTrack, which reported that median house prices jumped 102 per cent to more than $1.7 million in the 16 months to May 2023.
Other high achievers include:
- Proston, Queensland
- Humpty Doo, Northern Territory
- Nirimba Fields, NSW
Each of these three suburbs saw their house prices double in the past 20 months — just over a year and a half.
So, which other suburbs made the top 10 list?
- Boat Harbour (NSW)
Months to double: 16
Starting median house price: $846,250
Median house price May 2023: $1,707,500
- Proston (Queensland)
Months to double: 20
Starting median house price: $117,500
Median house price May 2023: $235,000
- Humpty Doo (Northern Territory)
Months to double: 20
Starting median house price: $300,000
Median house price May 2023: $600,000
- Nirimba Fields (NSW)
Months to double: 20
Starting median house price: $541,000
Median house price May 2023: $1,130,100
- Box Hill (NSW)
Months to double: 21
Starting median house price: $600,000
Median house price May 2023: $1,225,000
- Murrays Beach (NSW)
Months to double: 22
Starting median house price: $625,000
Median house price May 2023: $1,250,000
- Melonba (NSW)
Months to double: 24
Starting median house price: $544,950
Median house price May 2023: $1,160,000
- Wy Yung (Victoria)
Months to double: 24
Starting median house price: $417,500
Median house price May 2023: $840,000
- Vineyard (NSW)
Months to double: 24
Starting median house price: $2,417,500
Median house price May 2023: $5,000,000
- Grantham Farm (NSW)
Months to double: 25
Starting median house price: $514,000
Median house price May 2023: $1,050,000
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