Quarterly report identifies top 20 suburbs for future growth

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on February 07, 2022 Fact Checked
Quarterly report identifies top 20 suburbs for future growth

A new report from Well Home Loans has identified the 20 suburbs in Australia that are showing the strongest signs of future price growth.

The quarterly Well Home Loans Green Shoots Report identifies the 20 suburbs using the following metrics:

  • Inventory levels decreasing over the past three months
  • Days on market decreasing over the past three months
  • Asking prices increasing over the past three months

Well Home Loans CEO Scott Spencer said the Green Shoots Report contains a diverse mix of property markets, generally at 'affordable' prices.

"The top 20 list includes markets in seven different states and territories. Of the 20 locations, there are 11 metro and nine regional locations, as well as 11 house and nine unit markets," he said.

"Median prices start as low as $165,000 for the Whyalla Norrie house market in regional South Australia and go no higher than $820,000 for the Burwood unit market in Melbourne.

"When you analyse leading indicators like inventory levels and days on market, you get a sense for whether market conditions are tilting towards sellers or buyers, and therefore whether prices are likely to rise or fall in the year ahead."

Top 20 Suburbs for Future Growth - February 2022

Rank State Suburb Type Median Price
1 VIC Hallam Unit $505,000
2 WA Broome House $589,000
3 SA West Lakes Unit $529,000
4 QLD Mango Hill Unit $359,000
5 QLD Newtown Unit $270,000
6 SA Whyalla Norrie House $165,075
7 VIC Wyndham Vale House $513,000
8 SA Evanston Gardens House $346,900
9 QLD Bohle Plains House $440,000
10 QLD Collingwood Park House $435,319
11 SA Mount Barker House $439,900
12 VIC Burwood Unit $820,000
13 VIC Eynesbury House $606,400
14 ACT Gungahlin Unit $469,000
15 WA Leda House $325,500
16 NSW Kirrawee Unit $760,000
17 WA Djugun House $625,000
18 ACT Belconnen Unit $450,000
19 TAS Devonport Unit $319,000
20 WA Jurien Bay House $450,000

Source: Well Home Loans, data from Suburbtrends 


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Aaron joined Savings.com.au in 2021. He is a finance journalist with a keen interest in property, the share market, and improving financial literacy in young Australians.

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