New PropTrack data shows where the big winners in Australia’s property market are. It has analysed the suburbs with higher demand, faster selling times and strong price growth, with many affordable locations making the list.

PropTrack senior economist Anne Flaherty says locations where prices are lower and homes offer more value are in high demand. “Those affordable pockets are now attracting a greater pool of buyers because that same pool of buyers is being priced out of a lot more regions. This is intensifying buyer demand in Australia’s more affordable pockets, leading to faster selling times and higher prices.”

Western Australia suburbs had the highest house price growth in the first six months of 2024, with three Medina, Parmelia and Orelia, all with growth of around 25%. Most of the top suburbs for house price growth had a median value below $600,000, while only one had a median above $800,000.

In Queensland, Brisbane suburb Stafford and Townsville suburbs, Rasmussen and Cranbrook had growth of more than 15%. In NSW, Merrylands West, Guildford West and Guildford were up by about 11%, while South Australia’s best performers were New Port, Norwood and Glenside, up about 17%. Victoria’s top performers were Rutherglen, Merbin and Eagle Point up about 7%.