The 2012 so-called inner city "steals" winners and losers
Smart Property Investment magazine teamed up with three experts in June 2012 to pick 20 "inner city steals": suburbs where one in four units were selling for $300,000 or less.
CoreLogic RP Data's Cameron Kusher, Domain Group senior economist Andrew Wilson and SQM Research founder Louis Christopher ranked 20 suburbs within three kilometres of capital city CBDs based on their capital growth potential over a five year period.
At the halfway point of their time horizon, we've taken a look back at the 20 suburbs to see how they're faring.
We've picked the list's winners – the five suburbs which have displayed the biggest median unit price growth between June 2012 and the end of 2014. We've also identified the five biggest losing suburbs, where the median unit price was lower at the end of last year than it was in mid-2012. Note that any price growth or decline may not have been consistent over the 18 month period, and the percentage differences may display season variations.
The Winners:
- Wayville, South Australia:
Median unit price in June 2012: $312,000
Median unit price at the end of 2014: $608,500
Price change: 95%
- NORTH MELBOURNE, Victoria:
Median unit price in June 2012: $390,000
Median unit price at the end of 2014: $495,000
Price change: 26.9%
- North Hobart, Tasmania:
Median unit price in June 2012: $312,000
Median unit price at the end of 2014: $375,000
Price change: 20.2%
- Kent Town, South Australia:
Median unit price in June 2012: $505,000
Median unit price at the end of 2014: $600,000
Price change: 18.8%
- North Perth, Western Australia:
Median unit price in June 2012: $385,000
Median unit price at the end of 2014: $452,500
Price change: 17.5%
The losers
- West Leederville, Western Australia:
Median unit price in June 2012: $385,000
Median unit price at the end of 2014: $452,500
Price change: -23.5%
- Keswick, South Australia:
Median unit price in June 2012: $240,000
Last recorded median unit price: $202,500
Price change:-15.6%
- New Town, Tasmania:
Median unit price in June 2012: $270,000
Median unit price at the end of 2014: $240,000
Price change: -11.1%
- West Hobart, Tasmania:
Median unit price in June 2012: $330,000
Median unit price at the end of 2014: $317,000
Price change: -3.9%
Median unit price in June 2012: $297,500
Median unit price at the end of 2014: $290,000
Price change: -2.5%