A report from PropTrack revealed the suburbs that witnessed the highest six-month growth in median value over the first half of the year.
During the first six months of 2023, national property prices have increased by 2.3%. However, the growth has been more significant in certain suburbs, with some experiencing as much as a 14.4% rise in median house value.
In the house segment, Hurlstone Park in Sydney’s Inner West achieved the highest growth at 14.4%, with its median value reaching $2.04m.
Following closely is Fairlight in Sydney’s Northern Beaches, where the median value of a home rose 13.4% to $3.68m.
Smithfield Plains in Adelaide North ranked third — despite hitting a 13.1% growth, its median price remained affordable at $378,000.
Here’s the complete list of suburbs with the biggest gains in median house values over the first six months of 2023:
Biggest gainers in house values – H1 2023
|
Suburb |
SA4 Region |
Current median value ($) |
6-month change (%) |
|
Hurlstone Park |
Sydney - Inner West |
2.04m |
14.4 |
|
Fairlight |
Sydney - Northern Beaches |
3.68m |
13.4 |
|
Smithfield Plains |
Adelaide - North |
378,000 |
13.1 |
|
Kings Langley |
Sydney - Blacktown |
1.42m |
13.1 |
|
Biggenden |
Wide Bay |
309,000 |
13.0 |
|
Andrews Farm |
Adelaide - North |
470,000 |
12.4 |
|
Elizabeth North |
Adelaide - North |
353,000 |
12.3 |
|
Davoren Park |
Adelaide - North |
360,000 |
12.3 |
|
Brookdale |
Perth - South East |
369,000 |
12.1 |
|
Manly |
Sydney - Northern Beaches |
4.67m |
12.1 |
Across the unit markets, Sydney suburbs topped the list, hitting gains of up to 12.7% during the first half of the year. Six of the top 10 suburbs for unit price gains during the period were from Sydney.
Biggest gainers in unit values – H1 2023
|
Suburb |
SA4 Region |
Current median value ($) |
6-month change (%) |
|
Forest Lodge |
Sydney - City and Inner South |
1.20m |
12.7 |
|
Kirribilli |
Sydney - North Sydney and Hornsby |
1.88m |
12.5 |
|
Haymarket |
Sydney - City and Inner South |
1.02m |
12.5 |
|
Palm Cove |
Cairns |
558,000 |
12.5 |
|
Christie Downs |
Adelaide - South |
460,000 |
11.9 |
|
Millers Point |
Sydney - City and Inner South |
1.84m |
11.8 |
|
Point Piper |
Sydney - Eastern Suburbs |
5.61m |
11.4 |
|
Lavender Bay |
Sydney - North Sydney and Hornsby |
1.40m |
11.2 |
|
Brisbane City |
Brisbane Inner City |
596,000 |
11.0 |
|
Newcastle West |
Newcastle and Lake Macquarie |
796,000 |
11.0 |
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