There’s a long-held belief that property prices double every seven to 10 years, but the latest data shows that figure varies widely around Australia.
Analysis of PropTrack data shows that median house prices in some booming regions have doubled in less than three years, while in other areas it’s taken three decades.
The data shows the suburbs where prices tended to double fastest in some of the most affordable regions of the capitals, as well as lifestyle destinations that experienced a surge in demand during the pandemic.
We’ve consolidated it down to our surrounding suburbs and have listed these below;
Banksia Park – 8 years to double in median sale price – $670,525 current median sale price
Fairview Park – 13 years to double in median sale price – $707,500 current median sale price
Golden Grove – 10 years to double in median sale price – $820,000 current median sale price
Greenwith – 15 years to double in median sale price – $720,000 current median sale price
Hope Valley – 13 years to double in median sale price – $690,000 current median sale price
Modbury – 8 years to double in median sale price – $712,500 current median sale price
Modbury Heights – 9 years to double in median sale price – $730,000 current median sale price
Modbury North – 8 years to double in median sale price – $704,000 current median sale price
Para Vista – 7 years to double in median sale price – $677,000 current median sale price
Redwood Park – 13 years to double in median sale price – $707,500 current median sale price
Ridgehaven – 9 years to double in median sale price – $688,000 current median sale price
St Agnes – 12 years to double in median sale price – $698.000 current median sale price
Surrey Downs – 10 years to double in median sale price – $653,000 current median sale price
Tea Tree Gully – 8 years to double in median sale price – $813,500 current median sale price
Valley View – 9 years to double in median sale price – $712,500 current median sale price
Vista – 9 years to double in median sale price – $765,000 current median sale price
If your suburb is not listed above and you are interested to see where your property sits, please click Here
Article sourced from realestate.com.au
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