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They are Australia’s real blue chip suburbs.
New exclusive data has revealed the best performing locations for property over the past 30 years, with some suburbs seeing home values soar by 18 times their 1995 prices.
The research, conducted for News Corp by REA Group, has gone back in time further than ever before to reveal the suburbs that have performed the most consistently for value growth.
Southeast Queensland had the most impressive growth, with 13 suburbs recording home medians 15 times or more greater than their 1995 values.
MORE:See the full Qld suburb growth list here
New Beith, in the Logan area, topped the country with a growth factor of 18.1 times.
That’s seen the median dwelling value go from about $70,000 30 years ago, to now sit at $1.268 million.
REA Group economist Angus Moore said much of southeast Queensland’s growth has occurred over the past five years.
“Interstate migration is one of the main reasons Brisbane price rises have been a lot stronger,” Mr Moore said. “Growth has been especially strong in the last five years. Prices have basically doubled.
“Ipswich and Logan were higher performers in recent years because they were more affordable.”
MORE:Surprise suburbs top Sydney’s 30-year growth list
Blairgowrie had huge price growth.
Pacific Pines topped the Gold Coast area, with a 15.6 growth factor taking the home median there to $1.139 million.
Outside of Queensland, Sydney was, perhaps unsurprisingly, the highest growth market.
Glenwood, in the Blacktown area, managed a 15 growth factor, to bring the median home value to $1.694 million.
“Housing supply has not matched population growth,” Mr Moore said. “Sydney needs more housing and that’s put pressure on prices over many years.”
In Victoria, Blairgowrie on the Mornington Peninsula had a 13.2 growth factor and a current median of $1.279 million; while in Geelong, Bellbrae led the way with a growth factor of 11.5.
MORE: All the top Victorian performers over 30 years
Mr Moore said Mornington Peninsula suburbs had outperformed during the Covid pandemic.
“Covid growth was part of the cycle. It played some part but it was just two to three years out of the 30,” he said. “These are simply attractive places for people to live and that’s reflected in the rising prices.”
In Adelaide, the northern suburbs featured prominently, with Elizabeth South’s growth factor of 11.7 toping the list.
Sellers in these suburbs could really make some money.
In Perth, it was Leda in the south west with a 12 growth factor; in Darwin it was Gunn (with 9) and in Hobart, it was Bridgewater (11.7).
MORE: Adelaide’s boom region with the top 30-year growth suburbs
Mr Moore said supply and demand accounted for a lot of the price growth in Australia, explaining that the country was building far fewer homes relative to population growth than in the past.
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