Mortgages – Prudential Finance https://www.pru.com.au Development Finance Private Property Loans Wed, 21 Jul 2021 03:05:50 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.pru.com.au/wp-content/uploads/2023/07/Prudential-Finance-300x300-1-150x150.png Mortgages – Prudential Finance https://www.pru.com.au 32 32 HOW HOT IS YOUR SUBURB? https://www.pru.com.au/how-hot-is-your-suburb/ Thu, 03 Jul 2014 05:00:51 +0000 http://www.pru.com.au/?p=391 HOW HOT IS YOUR SUBURB? Since the beginning of 2013 we have seen price gains of almost 50 per cent in some areas across Australia. Although the market is slowing, in-demand suburb prices will keep rising. Amongst the biggest value shifts during this period are Sydney’s Waitara, North Sydney and Manly Vale, Melbourne’s Caulfield, Armadale […]

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Since the beginning of 2013 we have seen price gains of almost 50 per cent in some areas across Australia. Although the market is slowing, in-demand suburb prices will keep rising.

Amongst the biggest value shifts during this period are Sydney’s Waitara, North Sydney and Manly Vale, Melbourne’s Caulfield, Armadale and Camberwell. As well as Brisbane’s Hamilton and Healthwood.

Looking at the suburb-by-suburb price growth, gives us a good indication of the potential for future growth. RP Data research director Tim Lawless points out that areas filled with affordable family homes in suburbs dominated by owner-occupiers, are the sorts of areas with room to grow as they are high in demand.

He says there is still plenty of buyer enthusiasm as they sense with RP Data figures showing Sydney area Old Toongabbie in Parramatta, show homes are selling on average within 12 days of listing. In other Sydney areas, homes in Blacktown, Lane Cove and Willouhby are selling in less than 20 days with the median price between $600,000 and $900,000.

We take a look across Australia at each states Top 2 suburbs for both houses and units according to RP Data Research.

 

Suburb Median Price ($) Change (%) Suburb Median Price ($) Change (%)
Sydney House Waitara 973,595 47.1 Sydney Unit Waverley 675,512 41.3
North Sydney 1,502,392 42.3 Rushcutters Bay 545,999 39.6
Melbourne House Caulfield 1,257,034 47.8 Melbourne Unit Murrumbeena 483,741 41.0
Williams Landing 477,321 41.7 Mount Eliza 461,058 39.6
Brisbane House Hamilton 1,280,654 33.2 Brisbane Unit Kangaroo Point 507,404 15.4
Heathwood 541,051 27.9 Highgate Hill 483,255 13.9
Darwin House Ludmilla 722,000 20.9 Darwin Unit Fannie Bay 575,981 30.3
Parap 880,000 18.3 Nightcliff 433,599 27.5
Adelaide House Hectorville 460,319 18.7 Adelaide Unit North Adelaide 474,413 16.6
Toorak Gardens 1,305,946 18.2 Goodwood 353,014 13.9
Perth House Burns Beach 989,465 37.9 Perth Unit Mount Hawthorn 600,258 35.0
Jarrahdale 510,711 30.4 Burswood 652,508 34.9
Hobart House South Hobart 443,045 16.3 Hobart Unit Sandy Bay 375,307 14.7
North Hobart 419,179 12.5 Lenah Valley 283,306 13.7
Canberra House Bruce 851,825 18.3 Canberra Unit Mawson 432,119 23.5
Yarralumla 1,340,937 16.7 Garran 565,077 7.5

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