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

RankStateSuburbTypeMedian Price
1VICHallamUnit$505,000
2WABroomeHouse$589,000
3SAWest LakesUnit$529,000
4QLDMango HillUnit$359,000
5QLDNewtownUnit$270,000
6SAWhyalla NorrieHouse$165,075
7VICWyndham ValeHouse$513,000
8SAEvanston GardensHouse$346,900
9QLDBohle PlainsHouse$440,000
10QLDCollingwood ParkHouse$435,319
11SAMount BarkerHouse$439,900
12VICBurwoodUnit$820,000
13VICEynesburyHouse$606,400
14ACTGungahlinUnit$469,000
15WALedaHouse$325,500
16NSWKirraweeUnit$760,000
17WADjugunHouse$625,000
18ACTBelconnenUnit$450,000
19TASDevonportUnit$319,000
20WAJurien BayHouse$450,000

Source: Well Home Loans, data from Suburbtrends