Domain’s latest House Price Report shows Davoren Park, in Adelaide’s far north, topping the national list of fastest-growing house price suburbs over the past five years, with six Adelaide suburbs featuring in the top 10.
Davoren Park’s median house price has jumped 192.5%, from $189,744 in September 2020 to $550,000 today.
“You’re not going to see a property for $900,000 in Davoren Park just yet, but I think that’s one of the main drivers,” said local LJ Hooker agent Bradley Clarke.
A cluster of nearby suburbs also made the list. Elizabeth East ranked third, with a 175.3% increase taking the median from $218,000 to $600,000. Neighbouring Elizabeth Park rose 167%, Elizabeth Downs 165.2% and Elizabeth Vale 157.1%, with prices now typically between $500,000 and $600,000.
Still in Adelaide but around an hour south, Hackham West came in 10th. Its median house price has surged from $251,780 to more than $600,000 in five years.
Clarke said redevelopment and flexible planning rules are underpinning Davoren Park’s rapid rise, with much of the original South Australia Housing Trust stock being bulldozed and rebuilt.
“As long as you have 600 square metres of land and around 17 to 18 metres of frontage, you can do almost whatever you like,” he said.
As a sign of the area’s momentum, Clarke recently sold 71 Peachey Road – an unrenovated three‑bedroom home with long‑term tenants – for $605,000.
“The range we had initially was $540,000 to $580,000, but because we had competition, you just see the price drive up,” he said.
The vendor bought the property for $255,000 in November 2021, walking away with a four‑year profit of around $350,000.
These gains come against a backdrop of investors returning strongly, 11 consecutive quarters of national house price growth, and affordability at new lows, despite three RBA rate cuts, and expanded first‑home buyer support.
New South Wales claimed the second and another top‑10 spot. Colebee, about 50km west of Sydney, recorded a 182.4% jump in its median house price, from roughly $485,000 five years ago to around $1.37 million today.
Among the main buyers are golfers drawn to Stonecutters Ridge Golf Club, said Ray White Colebee agent Deepak Rochlani.
A 20‑minute drive north, Box Hill has seen similar growth, with a 163.1% increase taking its median to $1.315 million.
Rochlani said the three‑digit gains in Colebee partly reflect how the suburb has evolved from a new land estate around the golf course.
“Those lots were only about $400,000 to $450,000 … by the time you build a house on that, it sounds like it has doubled in price,” he said.
Many early owners also benefited from a COVID‑era land boom.
“The fact that those lots increased in value by a quarter of a million jumped in price by $250,000 during COVID didn’t hurt, either, and many owners cashed out before even building,” Rochlani said.
He pointed to 19 Kyogle Street as an example.
Initially the land sold for $488,000. With a five‑bedroom double‑storey house built, it resold for $1.28 million in 2022.
“Now I’ve just sold it for $1.65 million, which is a record price for 300 square metres of land in Colebee,” Rochlani said.
Queensland rounds out the list with two suburbs showing rapid growth.
Innes Park, a coastal town in the Bundaberg region about 367km north of Brisbane, has seen its median house price climb from $350,000 to $930,000 – a 167.5% increase.
In the opposite direction, Woodridge, 22km south of Brisbane, has recorded a 171.4% rise to a more affordable median of $570,000.
Like Davoren Park, Woodridge is rapidly changing, said Ray White Marsden agent Cory Boyd.
He said the suburb is mirroring the wider City of Logan, which once mainly attracted investors but is now drawing more first‑home buyers chasing relative affordability.
Earlier this month, Boyd had 10 registered bidders at the auction of 5 Barkala Street, a two‑bedroom retro weatherboard.
The opening bid alone was $20,000 above reserve, underscoring how competition in these formerly overlooked suburbs is now driving sharp gains.
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