The quarterly 'Green Shoot Report' includes suburbs scattered across Australia with Queensland taking the top three spots.

Well Home Loans Top 20 Suburbs

Rank State Suburb Postcode Type Price
1 QLD Deebing Heights 4306 House $425,000
2 QLD Springfield 4300 House $536,000
3 QLD Jimboomba 4280 House $457,000
4 SA Davoren Park 5113 House $285,000
5 VIC Huntly 3551 House $402,000
6 SA Morphettville 5043 House $588,000
7 VIC Melton South 3338 House $470,000
8 SA Gawler East 5118 House $390,000
9 NSW Wilton 2571 House $815,000
10 NSW Denham Court 2565 House $845,000
11 WA Como 6152 House $899,000
12 WA Alkimos 6038 House $410,000
13 NSW Uralla 2358 House $375,000
14 WA Caversham 6055 House $475,000
15 NT Darwin City 800 Unit $426,000
16 VIC Cranbourne East 3977 House $556,000
17 NT Farrar 830 House $585,000
18 TAS Ambleside 7310 House $535,000
19 TAS Sorell 7172 Unit $410,000
20 NT Moil 810 House $529,000

Source: Well Home Loans

Well Home Loans CEO Scott Spencer said the Well Home Loans Green Shoots Report has identified a diverse range of markets, most of which are reasonably affordable.

"The Well Home Loans Green Shoots Report doesn't actively search for affordable locations, but, in a nice coincidence, most of the suburbs on this list would be accessible to the average family, with asking prices ranging from less than $300,000 to just under $900,000," Mr Spencer said.

The 20 suburbs chosen showed the strongest combination of three main factors over the last three months:

  • Inventory levels decreasing
  • Days on the market decreasing
  • Asking prices increasing 

"The standout feature about this quarterly report is that it focuses on leading indicators, which give a guide to the future, rather than lagging indicators, which tell you about the past," Mr Spencer said.

“The key leading indicators are inventory levels and days on market, which tell you about the balance between supply and demand.

"When those two indicators are falling, it means buying conditions are becoming harder, which suggests prices are likely to rise in the months and even years ahead."

Standout suburbs

The Deebing Heights house market (#1 ranking), in Ipswich, Queensland, is showing the clearest signs that strong price growth is just around the corner according to Well Home Loans. 

The sharp fall in inventory levels (by 72.3%) and days on market (by 15.0%) over the past three months are key leading indicators.

The nearby Springfield house market (#2 ranking) has also gained momentum over the past three months, with inventory levels falling by a dramatic 67.2% and days on market dropping 23.5%.

The Huntly house market (#5 ranking), in Bendigo, is the standout Victorian location, where inventory levels (2.1 months) and days on market (22) are incredibly low.

Image by Emma Gossett via Unsplash

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