New figures show property is definitely a long-term game, with house prices doubling in more than 29 townships in the past five years. The analysis by Propertyology shows a further 50 suburbs or towns, grew by between 70% and 90% during the same period.
Propertyology Managing Director, Simon Pressley, says the past five years have resulted in some of the strongest national property market performances since Federation. And he says regional locations have come out on top with 11 inland towns in the top 35 for price growth.
Pressley says these markets are in demand because they are affordable and they have strong job markets, particularly in the agribusiness and resources sector. “The single biggest important component for property market performance is always local economic conditions,” he says.
The top performers in Queensland include Gatton, Kingaroy, Somerset, Bundaberg, Rockhampton and the Western Downs. In Western Australia, the leaders are Port Hedland, Mandurah, Busselton and Geraldton, while in South Australia, Murray Bridge, Mount Gambier and Port Pirie performed well.
