First Home Buyers Unit Suburb Growth Report August 2018
Contents Highest Growth Units within 30kms of the CBD... 3 Under $500k... 4 $300k $500k... 6 $500k $800k...10 About onthehouse.com.au...13 onthehouse.com.au First Home Buyers Unit Suburb Growth August 2018 2
Highest Growth Units Within 30kms of the CBD & By Price Range The combined capital cities recorded -2.4% decline in dwelling values over the 12 months to July; largely attributed to falls across the detached housing market where values were down -3.1%, while the unit market recorded a lower rate of decline at -0.5%. Making the unit market the better performer across the combined capital cities over the year to July 2018. While house values have continued to decline over the last 12 months, capital city house values are still up 37.5 per cent over past 5 years which has made entering the housing market increasingly difficult; making purchasing a unit the more viable option in terms of affordability and availability particularly when buyers have opted for centralised locations over longer commuting times. OnTheHouse have compiled a list of top suburbs with in 30kms of the CBD by price brackets,where the median value for units is under 350k, between 350k-500k and 500k- 800k. Ranked by highest lowest annual growth; providing a diverse range of options across Australia s capital cities. Disclaimer Based on the median value of units within 30kms of the Capital City ranked by highest yearly growth by price bracket. Data 12 months to July 2018. Suburbs with less than 50 transactions over the 12 month period excluded from the analysis, average distance data is based on the average distance of all properties within the geography. So how have units within a relatively close proximity of the CBD performed over the year and where are the highest growth suburbs? onthehouse.com.au First Home Buyers Unit Suburb Growth August 2018 3
Under $350k Highest Growth Suburbs within 30km Only 4 capital cities met the criteria for this price bracket, Greater Hobart was the best performing over the year with all 3 suburbs reporting an annual growth in unit values greater than 10%, according to July 18 data. Hobart not only represented the highest growth suburbs in this price bracket, but also the most affordable with units in Claremont and Glenorchy making the top 2 suburbs with the lowest median unit value of $258,319 and $232,075 and an annual rate of growth at 11.7% and 18.2% respectively. While units in Kingston recorded the second highest growth over the year at 12.2% with a median unit value of $341,663. Suburbs in Queensland, South Australia and Western Australia made up the remaining 3 cities within the under $350k price bracket, however not all have seen positive growth over the last 12 months. Prospect in Adelaide saw the highest growth out of the suburbs across the 3 cities, increasing by 4.9% annually. BRISBANE QLD Brendale Moreton Bay $270,901 3.6 % 18 QLD Kallangur Moreton Bay $290,002-1.4 % 25 QLD Richlands Brisbane $320,926-1.6 % 16 QLD Taigum Brisbane $321,497-1.7 % 14 QLD Zillmere Brisbane $332,481-3.2 % 12 QLD Capalaba Redland $334,216 4.3 % 18 QLD Runcorn Brisbane $336,780-1.0 % 15 QLD Mango hill Moreton Bay $342,625-1.5 % 25 QLD North lakes Moreton Bay $344,144-2.4 % 26 QLD Oxley Brisbane $347,864 0.3 % 12 ADELAIDE SA Morphett vale Onkaparinga $226,571-2.1 % 22 SA Kurralta park West Torrens $265,253 4.0 % 4 SA Mawson lakes Salisbury $284,453-0.7 % 18 SA Plympton West Torrens $287,118 2.3 % 6 SA Morphettville Marion $293,334-2.1 % 8 SA Seaton Charles Sturt $313,740 3.2 % 9 SA Oaklands park Marion $315,670-1.3 % 10 SA Prospect Prospect $329,119 4.5 % 5 SA Findon Charles Sturt $329,810-1.4 % 7 SA Warradale Marion $345,823-0.7 % 11 onthehouse.com.au First Home Buyers Unit Suburb Growth August 2018 4
Under $350k continued TASMANIA TAS Claremont Glenorchy $232,075 11.7 % 12 TAS Glenorchy Glenorchy $258,319 18.2 % 7 TAS Kingston Kingborough $341,663 12.2 % 11 PERTH WA Midland Swan $302,023-8.0 % 16 WA Wembley Cambridge $303,171-4.9 % 5 WA Maylands Bayswater $309,910-8.4 % 4 onthehouse.com.au First Home Buyers Unit Suburb Growth August 2018 5
$350k $500k Highest Growth Suburbs within 30km Of the suburbs included in the analysis, most fell within the $350k-$500k median unit value price bracket, with suburbs falling in each of 8 capital cities where the average distance to the CBD was with in 30kms. So which suburbs saw the highest growth over the year within the $350k- $500k price range? Suburbs in Melbourne were the best performing within this price bracket, with all 10 suburbs recording the highest annual unit growth of all the capital cities suburbs. Fawkner tops the list with a median unit value of $482,865, recording growth in unit values of 25.1% over the year. Outside of Melbourne, West Leederville in Perth came in with the highest 12 month growth, with unit values up 8.2%. Interestingly, suburbs in Brisbane saw some revival in terms of growth within this price range with all top 10 suburbs showing positive growth, including the suburb of Spring Hill where unit values have stalled with high supply within the inner city over the past couple of years. However, some of the higher priced inner city suburbs are still seeing negative growth as demonstrated in the next price bracket. CANBERRA ACT Gungahlin Unincorporated ACT $354,897 2.0 % 11 ACT Watson Unincorporated ACT $375,837 1.5 % 6 ACT Franklin Unincorporated ACT $379,346 3.1 % 9 ACT Holt Unincorporated ACT $390,214 6.3 % 12 ACT Gordon Unincorporated ACT $406,436 3.4 % 21 ACT Lyneham Unincorporated ACT $412,656 1.4 % 3 ACT Ngunnawal Unincorporated ACT $422,109 6.1 % 12 ACT Dickson Unincorporated ACT $423,217 7.7 % 3 ACT Griffith Unincorporated ACT $458,580 4.7 % 5 ACT Narrabundah Unincorporated ACT $464,497 5.4 % 7 onthehouse.com.au First Home Buyers Unit Suburb Growth August 2018 6
$350k $500k continued SYDNEY NSW Lakemba Canterbury $405,483-6.3 % 14 NSW Wiley Park Canterbury $413,423-4.2 % 14 NSW Fairfield Fairfield $432,145-4.1 % 24 NSW Warwick Farm Liverpool $454,508 0.9 % 26 NSW Cabramatta Fairfield $460,652 2.2 % 25 NSW Liverpool Liverpool $463,274 2.6 % 27 NSW Guildford Parramatta $481,825-0.3 % 20 NSW Punchbowl Canterbury $484,729 0.6 % 16 NSW Merrylands Holroyd $495,518 1.3 % 21 NSW Granville Parramatta $499,944 1.0 % 19 BRISBANE DARWIN NT Larrakeyah Darwin $442,682-6.7 % 2 QLD Tingalpa Brisbane $360,272 1.8 % 10 QLD Boondall Brisbane $365,642 3.0 % 13 QLD Carseldine Brisbane $372,511 2.0 % 14 QLD Redcliffe Moreton Bay $377,179 1.9 % 28 QLD Woody Point Moreton Bay $385,590 2.1 % 25 QLD Coorparoo Brisbane $386,005 2.6 % 4 QLD Wynnum Brisbane $407,126 1.8 % 14 QLD Spring Hill Brisbane $409,122 2.0 % 1 QLD Carina Brisbane $441,330 3.0 % 8 QLD Carina Heights Brisbane $457,703 3.0 % 7 onthehouse.com.au First Home Buyers Unit Suburb Growth August 2018 7
$350k $500k continued ADELAIDE SA Glengowrie Marion $405,483 1.7 % 9 SA Glenelg North Holdfast Bay $413,423-4.2 % 9 SA Glenelg East Holdfast Bay $432,145-1.4 % 9 SA Magill Campbelltown $454,508-0.2 % 7 SA West Lakes Charles Sturt $460,652-0.7 % 11 SA Glenelg Holdfast Bay $463,274-6.3 % 10 SA Parkside Unley $481,825 5.3 % 3 SA Brompton Charles Sturt $484,729-0.7 % 4 SA Adelaide Adelaide $495,518 7.4 % 1 MELBOURNE HOBART TAS Sandy Bay Hobart $483,178 4.4 % 3 VIC Fawkner Moreland $482,865 25.1 % 12 VIC Sydenham Brimbank $419,806 19.7 % 22 VIC Broadmeadows Hume $393,594 17.9 % 14 VIC Dandenong North Greater Dandenong $435,856 15.9 % 27 VIC Noble Park Greater Dandenong $450,641 15.3 % 25 VIC St Albans Brimbank $440,466 14.9 % 16 VIC Bundoora Banyule $454,633 13.7 % 16 VIC West Footscray Maribyrnong $417,601 13.0 % 8 VIC Hoppers Crossing Wyndham $390,775 12.6 % 25 VIC Dandenong Greater Dandenong $354,841 11.7 % 29 onthehouse.com.au First Home Buyers Unit Suburb Growth August 2018 8
$350k $500k continued PERTH WA Tuart Hill Stirling $364,659-5.9 % 7 WA Nollamara Stirling $372,624-4.9 % 8 WA Mount Lawley Stirling $395,281-3.9 % 3 WA Yokine Stirling $400,624-2.9 % 6 WA Victoria Park Victoria Park $426,816-6.5 % 4 WA West Perth Perth $438,361-1.0 % 2 WA Perth Perth $439,383-3.8 % 1 WA West Leederville Cambridge $471,138 8.2 % 3 WA Como South Perth $473,111-6.1 % 5 WA North Perth Vincent $475,873-4.9 % 3 onthehouse.com.au First Home Buyers Unit Suburb Growth August 2018 9
$500k 800k Highest Growth Suburbs within 30km Looking in the higher 500k-800k price bracket, Melbourne once again dominates the top list, making up the top 10 suburbs with highest annual growth within this range, with Clayton South recording the highest growth in units at 21.6% over the year to July 18 and a median value of $540,075. Surprisingly, while growth in units across Perth within the lower price brackets have been limited or non-existent; the higher price bracket is showing much more positive results, with 7 out of the 9 suburbs included in the analysis recording an increase in value over the year. Units in North Coogee actually out performed all of the remaining capital city suburbs, coming in at 11 place for highest growth with an annual increase in unit values of 9.1%. Suburbs in Sydney also performed better in this price bracket relative to growth within the 350-500k price bracket, with all top suburbs showing an increase in unit values over the 12 months. CANBERRA ACT Mawson Unincorporated ACT $504,456 3.2 % 10 ACT Kingston Unincorporated ACT $533,986 4.9 % 4 ACT Barton Unincorporated ACT $535,267-6.1 % 4 ACT City Unincorporated ACT $543,824 4.3 % 1 SYDNEY NSW Rosehill Parramatta $559,328 3.5 % 18 NSW Yagoona Bankstown $571,276 8.6 % 17 NSW Wentworthville Holroyd $597,802 3.4 % 23 NSW Croydon Park Canterbury $655,254 5.1 % 10 NSW Greenacre Bankstown $660,572 4.1 % 15 NSW Newtown Sydney $725,977 5.7 % 4 NSW Summer Hill Ashfield $769,770 6.3 % 7 NSW Strathfield Strathfield $770,173 4.0 % 11 NSW Revesby Bankstown $779,709 4.5 % 20 NSW Carlingford The Hills Shire $784,998 3.5 % 18 onthehouse.com.au First Home Buyers Unit Suburb Growth August 2018 10
$500k 800k continued BRISBANE QLD Newstead Brisbane $538,855-0.2 % 3 QLD New Farm Brisbane $549,825-2.4 % 2 QLD Teneriffe Brisbane $556,925-1.7 % 2 QLD Bulimba Brisbane $559,772-2.4 % 3 ADELAIDE SA Norwood Norwood Payneham St Peters $508,753-2.1 % 3 SA North Adelaide Adelaide $527,337 4.8 % 2 MELBOURNE VIC Springvale Greater Dandenong $528,626 18.4 % 22 VIC Clayton South Kingston $540,075 21.6 % 20 VIC Boronia Knox $571,707 16.9 % 28 VIC Maidstone Maribyrnong $572,952 17.7 % 9 VIC Clayton Monash $579,390 15.7 % 18 VIC Chelsea Kingston $613,833 20.2 % 30 VIC Eltham Nillumbik $696,938 16.0 % 20 VIC Ferntree Gully Knox $553,337 15.2 % 29 VIC Bayswater Knox $540,800 12.9 % 27 VIC Reservoir Darebin $531,920 12.9 % 12 onthehouse.com.au First Home Buyers Unit Suburb Growth August 2018 11
$500k 800k continued PERTH WA Innaloo Stirling $509,747-1.1 % 9 WA Fremantle Fremantle $522,909 1.8 % 15 WA Subiaco Subiaco $523,841-0.2 % 3 WA Scarborough Stirling $530,960-1.0 % 11 WA South Perth South Perth $552,939 1.0 % 3 WA North Coogee Cockburn $596,082 9.1 % 18 WA Applecross Melville $662,752 2.0 % 7 WA Claremont Claremont $696,353 0.9 % 8 WA North Fremantle Fremantle $743,362 3.0 % 13 onthehouse.com.au First Home Buyers Unit Suburb Growth August 2018 12
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