Domain's latest real estate price report revealed Australia's most performing suburbs over the past five years.
Byron Bay is the country's first growth area. The median price of housing in the region has increased 117% since June 2014.
Young families wishing to flee Sydney influenced the staggering price growth at Byron Bay.
"We have these young families who are dying to flee Sydney and for them, Byron Bay is the ideal. They come here, live in the countryside with the beautiful beaches, but still retain that urban vibe by swapping their apartment in Sydney for a $ 1.3 million Byron Bay home, "said research analyst Eliza Owen. at Domain.
Norwood's homes in Adelaide, Vaucluse in Sydney, apartments in Noosa Heads in Queensland and Burradoo in NSW's Highlands South also experienced strong growth.
At Noosa Heads, the median unit value has increased by 80.4% since 2014. At the same time, house prices in Burradoo have increased by 79% over the last five years.
Avoca Beach, Fairy Meadow, Pitt Town, and Elizabeth Ray of New South Wales were all listed, joining Victoria's Koo Wee Rup.
At the other end of the list, some of the regions with the largest decreases in median prices are in Western Australia, including the cities of Pilbara, Newman, South Hedland and Port Headland. Queensland mining towns such as Moranbah and West Gladstone also experienced a drop in the median housing price.
The end of the country's mining boom has had a profound impact on local real estate markets.
"During 2014, the price of iron ore dropped significantly by half. It is therefore logical that several suburbs on this list are in the Pilbara area, which is linked to the iron ore market. We found a similar effect in the Queensland mining areas. When mining projects stop, there is less migration, less work and less demand for properties in these areas, which is exactly what happened, "said Owen.
Top suburbs:
month-end
,
Murdoch
,
sunshine
,
Newcastle
,
Wiley Park
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