The booming suburbs where prices have doubled the fastest

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