Where Prices Have Doubled
Australian property prices remain higher in almost all locations than they were four years ago with new analysis showing some areas have more than doubled.
The data shows the pace of price growth in the past four years is substantially higher than it was in the preceding four years.
PropTrack Economist, Anne Flaherty says that is because market conditions during the pandemic triggered a “once-in-a-generation boom”, driven primarily by very low borrowing costs and lifestyle changes.
“The level at which property prices rose in 2021 in particular was the fastest episode of price growth seen in over 30 years,” she says.
Adelaide suburbs dominate the list of top price growth locations with prices in Elizabeth North up by 151%, Davoren Park, up 142% and Smithfield Plains up 132%.
In Western Australia, Camillo prices rose by 114% and Armadale by 105%, while in Queensland house prices in Mount Coolum on the Sunshine Coast are up by 113% and on the Gold Coast, Hope Island is up by 103%.
Warracknabeal in regional Victoria is up by 105%, while in regional NSW, Ashmont is up 116%.
