Best performing property markets past 10 years

CoreLogic geographic home value index research data into the best performing property markets at an SA3 level over the past decade confirmed that regions around Sydney and Melbourne experienced the strongest value growth, while the remaining capitals experienced comparatively moderate value increases.

(SA3 represents a regional area serviced by major transport & commercial hub with a population of between 30,000 and 130,000 people) 

The region of Wyndham in Melbourne’s outer south-western saw values climb by 129.9% over the past decade to record the greatest increase in dwelling values in Australia over the period.  australia

The region with the second highest rate of value growth has been Pennant Hills – Epping located in the Hills District of Sydney.

When analysing the regions with the greatest value increases, the top 10 regions nationally are all located in either Sydney or Melbourne while Katherine in the Northern Territory is the only region outside of NSW or Vic to have recorded value growth in excess of 50% (52.4%) over the past decade.

This highlights how much stronger value growth has been in Sydney and Melbourne relative to other capital cities over the past decade.

For each state and territory, the top 5 listed areas shows a significant slant towards capital city regions rather than regional housing markets.

In fact, only Katherine and Alice Springs make the list for the top 5 in each state and territory outside of a capital city.

SA3 regions in each state with the greatest increase in dwelling values, decade to October 2017

Dwellign Values

The data also highlights just how weak the housing market in Perth has been over the past decade, despite the mining boom supporting strong capital gains over the first half of the decade.

Serpentine – Jarrahdale has been the strongest region for growth in WA (17.5%) with every other region of the state recording growth over the decade of less than 5%.

Covering regions outside of the capital cities, once again, the analysis shows that many of the best performing regions are in NSW and Vic.  

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In fact, the top 15 regions listed in the second table have all recorded value increases over the past decade in excess of all of the capital city regions outside of Sydney and Melbourne. 13 of the top 15 regional markets for value growth over the past decade are located in either NSW or Vic.

The top two regional markets for value growth over the past decade, Dapto – Port Kembla (89.7%) and Wollongong (77.8%) are both located in the Wollongong region directly south of Sydney.

Overall the data highlights the strength of value growth in Sydney and Melbourne over recent years and just how moderate growth has generally been outside of these two cities.

It’s important to keep in mind that between them, Sydney and Melbourne account for an estimated 40.3% of the national population and 58.3% of the total value of dwellings nationally.

Given this, it really highlights the extent to which the performance of the Sydney and Melbourne housing markets will drive the national headline growth figures.

Non-capital city SA3 regions with the greatest increase in dwelling values, decade to October 2017

Dwelling Values 2

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About

Cameron Kusher is Corelogic RP Data’s senior research analyst. Cameron has a thorough understanding of the fundamentals such as demographics, trends & economics. Visit www.corelogic.com.au


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