AUSTRALIA’S BIGGEST HOME PRICE GROWTH PERFORMERS, INCLUDING AREAS WHERE VALUES ARE UP $1 MILLION IN A YEAR

The biggest property price growth suburbs in Australia have seen house values surge by a staggering $1 million or more in just a year.

New data from PropTrack has identified the top real estate performers by dollar value in the 12 months to January, showing buyers are willing to fork out a fortune to secure a dream home. 

“What we’ve seen over the past two years is some of the biggest house price growth in history, with 2021 the third-fastest annual rate of growth, once we account for inflation, in 140 years,” PropTrack economist Angus Moore said. A main driver of growth in the top suburbs is people placing greater importance on space, like a second bedroom to work from home in or a big backyard, and lifestyle amenities, such as being near the water, Mr Moore said. 

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