Australia is home to 98 suburbs where homes have recorded double-digit price growth each year over the past decade, according to new PropTrack data.
The analysis revealed there are 98 suburbs throughout the country where median house prices have risen by at least 10% per year on average since 2015.
Looking at the annual change in median house price over 10 years “can smooth out short-term volatility and show the long-term growth trend in property values.” PropTrack noted that this helps identify suburbs with sustained market performance and investment potential.
Regional Australia outperformed the capital cities, with 55 high-achieving suburbs in regional markets compared to 43 in the capitals.
The findings come as PropTrack’s Home Price Index shows national home prices rose 0.5% in September – the ninth straight month of gains – lifting values to a record high. Prices are now up 6.2% over the past year and more than 50% in the past five years. Capital city prices rose 0.6% in September, while regional markets added 0.4%, extending their stronger performance over the long term.
Queensland dominated the list, making up nearly half with 45 suburbs, followed by South Australia (20), New South Wales (18), Victoria and Tasmania (seven each), and the Northern Territory (one).
Neither Western Australia nor the ACT had suburbs qualify.
Aintree, in Melbourne’s western suburbs, topped the list with 15% average annual price growth over the past decade. Rounding out the top five were Cobblebank (Victoria) and Sunrise Beach (Queensland) at 14%, followed by Calderwood (NSW) and Minyama (Queensland) at 13% each.
There was a sharp difference in values across these markets – Aintree’s median price was $742,050 in September, compared to Minyama’s $2.95 million.
Notably, nearly two-thirds (63) of the suburbs had median prices under $1 million, underscoring that price gains weren’t limited to premium areas, PropTrack data showed.
Queensland was the clear winner, with 14 neighbourhoods in greater Brisbane and 31 suburbs across the rest of the state.
In Brisbane, most of these consistent gainers were situated in the Ipswich region, where 10 locations recorded either 10% or 11% annual median house price growth since 2015. Ipswich continues to attract first-home buyers and investors due to its affordable housing and steady new-build supply.
Outside the capital, 13 Sunshine Coast suburbs and 10 Gold Coast locations made the list.
PropTrack noted that home prices have boomed across Southeast Queensland since the pandemic, driven by lifestyle appeal, space, and relative affordability compared to southern capitals. Warmer weather, coastal living, and the upcoming 2032 Brisbane Olympics continue to fuel buyer demand.
Looking ahead, housing affordability remains one of the biggest challenges for buyers, with home prices continuing to grow faster than wages in many markets.
However, this year’s three interest rate cuts – and further reductions anticipated over the short term – are expected to lower mortgage costs and boost borrowing power, supporting continued housing demand.
RBA recently held the cash rate at 3.6%, following earlier cuts in February, May, and August, while signalling caution amid global uncertainty and strong domestic growth.
The early spring selling season has already shown strong buyer interest, with faster home sales amid fewer-than-expected listings in several regions.
While short-term conditions may fluctuate, these 98 high-growth suburbs highlight the resilience of Australia’s housing market and its long-term investment potential.
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