Homebuyers and investors looking for suburbs with secure growth prospects this year should consider the 20 suburbs identified by Well Home Loans.
Well Home Loans CEO Scott Spencer said the list includes a diverse set of markets with affordable prices that show the "clearest signs" of rising prices over the next few months.
"Median prices start at $165,000 for the Whyalla Norrie residential market in the South Australian region and do not exceed $820,000 for the Burwood unit market in Melbourne," he said. he stated.
Mr. Spencer said the list was based on several market indicators other than median prices, which include stock levels and days on the market.
All the markets listed have reported falling inventory levels, which means that the current supply of properties in the suburbs are likely to sell out over a shorter period.
"With these indicators you get an idea of ??whether the market is trending towards sellers or buyers, and therefore whether prices are likely to rise or fall over the coming year" , he said.
Unit markets to watch
Of the 20 markets listed, nine are unit markets scattered across states and territories.
Well Home Loans has listed Hallam Unit Market in Victoria as one of the best places to visit this year.
Over the past three months, Hallam reported a 1.2% increase in median unit price to $505,000.
South Australia's Western Lakes at Charles Sturt is also a good option for buyers, with its median price rising 10.2% over the same period to $529,000 .
West Lakes units sold faster during the quarter, with days on market decreasing to 28 days.
Mango Hill in Queensland is also a hotspot for units. It reported a 5.6% growth in median unit price to $359,000 and a slightly lower time to sell of 55 days.
Here are the other unit markets that are poised for strong growth this year:
Best suburbs for 2022 units
Suburb (State)
Median price, January 2022 ($)
Price growth (%)
Days to market
Hallam (Vic)
505,000
1.2
38
West Lake (SA)
529,000
10.2
28
Mango Hill (Qld)
359,000
5.6
55
Newtown (Qld)
270,000
4.2
70
Burwood, (Vic)
820,000
4.7
35
Gungahlin (ACT)
469,000
2.2
44
Kirrawee (NSW)
760,000
7.0
25
Belconnen (ACT)
450,000
1.1
40
Devonport (Heap)
319,000
6.3
35
Real estate markets should show spectacular gains
The general tendency for houses to outperform units is evident in the list, as real estate markets occupy 11 spots in the list.
Broome in Western Australia is a great option for buyers and investors, with its median asking price rising 7.1% over the past three months to $589,000.
Homes in Broome have a higher days on the market at 84 days compared to other suburbs on the list, but they also saw a significant drop in inventory over the period.
Buyers may also consider investing in Whyalla Norrie in South Australia. This suburb reported a 1.6% rise in median prices to $165,000, one of the most affordable prices on the list.
It takes approximately 66 days for a property to be sold in Whyalla Norrie.
Victoria's Wyndham Vale is among the real estate markets that are expected to perform strongly this year.
Median home price in Wyndham Vale rose 2.2% to $513,000.
Here are the other real estate markets included in the Well Home Loans list:
Top suburbs for homes 2022
Suburb (State)
Median price, January 2022 ($)
Price growth (%)
Days to market
Broome (WA)
589,000
7.1
84
Why Norrie (SA)
165 075
1.6
66
Wyndham Vale (Vic)
513,000
2.2
33
Evanston Gardens (South Africa)
346 900
2.4
49
Bohl Plains (Qld)
440,000
3.5
49
Collingwood Park (Qld)
435 319
3.6
33
Mount Barker (SA)
439 900
1.9
36
Eynesbury (Vic)
606 400
0.4
42
Leda (WA)
325 500
2.0
47
Djugun (WA)
625,000
5.0
75
Jurien Bay (WA)
450,000
2.3
119
—
Photo by @nknezevic on Unsplash
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