Arncliffe leads Sydney suburbs on RP Data top 100 hotspot list
Sydney suburbs, many of them on the outer fringes of the city, account for one in three suburbs on RP Data’s list of the top 100 locations for house price growth, with the Hunter Valley and Newcastle region also making a strong showing.
Mining towns in far north Queensland featured strongly on the top 10, led by Moranbah (1st), New Auckland (3rd), Clinton (6th) and West Gladstone (8th).
The top-ranking Sydney suburb is Arncliffe, about 11 kilometres south of the CBD, which comes in at number nine on the list.
Over the past year house prices in Arncliffe have risen 16.3% from $601,000 to $699,000.
Arncliffe is followed by 10th placed Riverstone, 48 kilometres west of Sydney in the Blacktown municipality where house prices have risen 16% from $364,000 to $422,000 over the course of 2011.
Rounding out the top 10 ranking Sydney suburbs on the list are:
Suburb | Rank | Distance from Sydney CBD | Median price in 2010 | Median price in 2011 | % change |
9 | 11 km south | $601,080 | $699,296 | 16.3% | |
Riverstone | 10 | 48 kms south west | $364,377 | $422,412 | 15.9% |
Granville | 16 | 22 km west | $399,000 | $451,000 | 12.9% |
20 | 31 km south west | $405,000 | $453,000 | 12% | |
Blaxland | 32 | 60 km west | $389,230 | $424,254 | 9% |
Mona Vale | 34 | 30 km north | $851,195 | $926,678 | 8.9% |
Greenacre | 37 | 17 km south west | $491,000 | $532,000 | 8.4% |
39 | 12 km west | $754,000 | $817,000 | 8.3% | |
Hinchinbrook | 48 | 39 km south west | $437,000 | $470,000 | 7.6% |
Macquarie Fields | 52 | 42 km south west | $304,000 | $325,000 | 7.2% |
Source: RP Data
Outside of Sydney, NSW investors should look north towards the Hunter Valley region and the regional city of Newcastle, where a growing demand for mining accommodation is driving up house prices and rents.
The highest-ranking location in the Hunter region was Medowie, a suburb of Port Stephens in the Hunter region, which ranked 24th on the list and recorded house price growth of 10.6% in a year. During 2011 house prices in Medowie increased from $327,000 to $362,000.
Kurri Kurri placed 33rd on the list, with house price growth of 8.9% ($234,000 to $255,000). The small town, which has population of about 6,000, is home to the Kurri Kurri aluminium smelter and is surrounded by wineries.
Raymond Terrace, about 26 kilometres north of Newcastle on the Pacific Highway and administrative centre of the Port Stephens municipality, ranked 44th on the list, with the median house price rising 7.9% from $269,000 in 2010 to $290,000 in 2011.
New Lambton, less than six kilometres from the city centre, ranks 50th on the RP Data list, with house prices up 7.3% over the past 12 months to a median of $441,000.
Also on the list is the north-western Newcastle suburb of Mayfield, where house prices are up 5.1% for the year to $342,000.
Thornton, a suburb in the City of Maitland, ranked 62nd (house prices up 6.4% to $393,000) while Muswellbrook in the Upper Hunter Valley region comfortably made it into the top 100 with house prices up 5.3% for the year to a median of $292,000.
Photo by Sam Gao, courtesy of Flickr.