$500k-plus in six months: Australia's rapidly growing suburbs

While price gains in Sydney broadly eased off in the second half of 2023, annual growth still sits above a very healthy +10 per cent. 

But there are dozens of suburbs across the state where gains have well and truly outpaced that rate over the past six months alone. 

Sydney and NSW suburbs with $100k-plus growth in six months

The latest data shows a broad mix of locations that have outperformed, from regional NSW hubs and lifestyle destinations to Sydney suburban hotspots.

Homes in Farley in the Hunter Valley topped the list with growth of more than $200,000, representing a +43 per cent surge in just six months. 

Gordon saw the median sale price explode by over $1 million, Sans Souci in Sydney's south got a +40 per cent boost, and desirable locations in the Inner West like Russell Lea and Five Dock also greatly surpassed the city's baseline performance. 

Note: The above data is sourced from CoreLogic from February 2023 to January 2024. 

The Melbourne market has faced more of an uphill battle than most capitals over the past year, but that hasn't stopped well over 15 suburbs breaking through more than $100,000 growth in just the last six months. 

Melbourne and VIC suburbs with $100k-plus growth in six months

Percentage-wise, regional spots Heathcote and Bunyip were the biggest movers from August to January, with both surging more than +33 per cent compared to the previous six months. 

Melbourne suburbs like Ringwood North, Kingsville and South Melbourne all saw median prices shoot up in excess of $250,000, while affluent Toorak comfortably cleared a staggering $800,000. 

Other top performers included Elliminyt in the state's southwest, Keilor in Melbourne's northwest, and Box Hill which gained just over $290,000. 

Note: The above data is sourced from CoreLogic from February 2023 to January 2024.

Queensland, particularly its capital and southeast region, has been a runaway success for several years now, with Brisbane property posting gains of more than +15 per cent over the past year. 

It may come as no surprise, then, that dozens of suburbs in the Sunshine State saw price growth of well over $100,000 in the past six months alone. 

Brisbane and QLD suburbs with $100k-plus growth in six months

The top earner for the period was the waterfront Manly in Brisbane's east with growth of more than +38 per cent, adding $435,000 to the median home value. 

Other city-adjacent spots like Clayfield, Kangaroo Point and Ascot delivered gains in excess of +35 per cent, while Sunshine Coast and Gold Coast suburbs like Banya, Mount Coolum and Surfers Paradise also posted very substantial growth. 

The explosive upturn wasn't only limited to the state's southeast, though, with Alice River and North Ward among the locations further north that also cracked the top 15 movers. 

Note: The above data is sourced from CoreLogic from February 2023 to January 2024.

Like Queensland, South Australia has seen incredible levels of prosperity in property since the pandemic began.

Adelaide home values are up nearly +12 per cent on an annual basis and have continued to rise rapidly every month. 

Adelaide and SA suburbs with $100k-plus growth in six months

While South Australia represents relative affordability compared to other states, there was no shortage of suburbs that exceeded $100,000 growth in the past six months, with Davoren Park in Adelaide's north delivering the top performance with gains of +44 per cent. 

Neighbouring locations like Elizabeth South, Para Hills West and Prospect also over-delivered with growth in excess of +25 per cent over the period. Western suburbs like Woodville South, Osborne and St Clair also featured heavily in the top 15 rankings. 

Beyond the capital city, suburbs like Lyndoch and Nuriootpa in the Barossa Valley also saw prices rise comfortably above the $100,000 mark. 

Note: The above data is sourced from CoreLogic from February 2023 to January 2024.

Where Queensland and South Australia have been in overdrive for the past year, Western Australia has taken a significant leap further to deliver the strongest growth of any state by far. 

Perth property prices have soared more than +18 per cent in the last 12 months, with plenty of suburbs going far in excess of that figure in the six months to January 2024. 

Perth and WA suburbs with $100k-plus growth in six months

Regional WA town Ravenswood was the sole suburb to breach +40 per cent over the six-month period, while back in the capital, Darlington, Dongara and Perth itself all comfortably cleared +30 per cent growth. 

Southern suburbs like Treeby, Hillman and Manning all saw prices pumped up by more than $100,000, with homes in Mosman Park clocking the biggest dollar-value gains with over $500,000 added to the median property price. 

Note: The above data is sourced from CoreLogic from February 2023 to January 2024.