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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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