Where are regional Victoria's top growing suburbs?

Nearby Corio also recorded significant growth of 24.4 per cent over the year, boosting the suburb’s median house price to $311,000 in December — a capital gain of more than $60,000. 

REIV CEO Gil King said that similar price growth was also experienced in East Geelong, where house prices rose by more than $100,000 over the year to a median of $645,000.

“House prices also rose strongly in Geelong West and Herne Hill last year, both increasing by more than 20 per cent in 2017 to median prices of $665,000 and $492,500, respectively,” Mr King said.

“Other Greater Geelong areas benefitting from increased buyer demand last year include Hamlyn Heights, up [by] 18.1 per cent to a median of $506,000; Clifton Springs, up [by] 17.8 per cent to a median of $430,000; Bell Post Hill, up [by] 17.2 per cent to a median of $440,000; and Belmont, up [by] 16.7 per cent to a median house price of $502,000.” 

Mr King said that Soldiers Hill recorded the state’s largest growth outside of Geelong, with house prices in the Ballarat suburb increasing by more than $80,000 over the year to a median of $425,000.

“Capital growth of around 20 per cent was also evident in Ballarat Central and Black Hill, lifting their median house prices to $414,000 and $370,000, respectively.

“Irymple near Mildura was another top performer in 2017, with the town’s median house price hitting $320,000 in December — an annual increase of 24.3 per cent. Double-digit price growth was also recorded in nearby Red Cliffs, where house prices rose [by] 13.8 per cent over the year to $227,000.”

Mr King said that 2017 also delivered good news for vendors in Colac in the state’s west, where house prices rose by 15.7 per cent to a median of $283,500.

“The commuter towns of Warragul and Wallan also experienced strong price growth in 2017, up [by] 16 per cent and 14.7 per cent, respectively. Warragul now commands a median house price of $435,000 while Wallan’s median price is $430,000.”