The quarter’s 10 outperforming unit and house suburbs, Sydney tops list: Residex
New research available from today has listed the 10 suburbs that have seen the largest capital growth for the quarter for houses and units nationally.
Sydney, according to the list, has done well across both units and houses – with Beaumont Hills and Eastwood topping the houses list, and Wollstonecraft and Milsons Point topping the units list.
Houses, however, outperformed unit suburbs, with double digit growth recorded in seven of the top suburbs.
In fact, there was just one offering outside of New South Wales that made it onto the house suburb list – Melbourne’s Alphington.
On the best unit list, the results were a tad more mixed, and actually included a country Western Australia listing.
Consulting analyst for Onthousehouse, and founder of Residex, John Edwards, said that Sydney growth has continued through 2014.
“Growth in Sydney has continued, with house price growth of 8.15% in the last quarter. We have not seen this high level of quarterly growth since September 1988, when Sydney saw its last large property price boom,” said Edwards.
“While the strong growth rates are good news for property owners, if growth continues on its current upward path there could potentially be some problems in the medium-term as interest rates are likely to increase.
Edwards urges anyone looking to buy to heavily research the area.
“Gathering information on a suburb is crucial before buying. Investors should be able to estimate where a suburb is in its growth cycle if they are considering buying in the area,” he said.
See over page for the top performing suburbs.
Source: Onthehouse.com.au / Residex
Source: Onthehouse.com.au / Residex