{"id":35207,"date":"2021-10-20T09:35:13","date_gmt":"2021-10-19T20:35:13","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=35207"},"modified":"2021-10-20T09:35:13","modified_gmt":"2021-10-19T20:35:13","slug":"suburbs-where-homes-rose-51k-a-month","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/suburbs-where-homes-rose-51k-a-month\/","title":{"rendered":"Suburbs where homes rose $51k a month"},"content":{"rendered":"

PHOTO: Sydney\u2019s prestigious Northern Beaches<\/strong><\/p>\n

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Australia\u2019s property market has been turbocharged by the Covid-19 pandemic with some suburbs experiencing growth of more than one third of their original price in the past year.<\/p>\n<\/div>\n

The top performing suburb grew by 37.2 per cent in the 12 months to the end of September, with the median house in that area selling for $2.2 million.<\/p>\n

That means homes in that suburb rose by a total of $618,000 in a year, or $51,000 every month.<\/p>\n

Property analysis firm CoreLogic released the new data at a live webinar on Thursday with the company\u2019s head of research, Tim Lawless, the keynote speaker at the event.<\/p>\n

Mr Lawless said that on the whole, \u201ccapital cities have underperformed compared to the regions\u201d in the past year.<\/p>\n

\u201cSea change and tree change is driving these regional markets,\u201d according to him, which he added was thanks to the working from home trend inspired by lockdowns across the country.<\/p>\n

Some of these suburbs\u2019 massive growth rates were attributed to either the \u201clifestyle\u201d or \u201ccoastal\u201dappeal in the area.<\/p>\n

The top five spots were taken up by the state of NSW, with Sydney\u2019s prestigious Northern Beaches taking out the number one ranking.<\/p>\n

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\"Homeowners<\/div>\n

Homeowners in these 30 areas pocketed a lot of cash in the last year. Source: CoreLogic<\/strong><\/em><\/div>\n

Behind the Northern Beaches on the leaderboard were three non-capital localities in NSW \u2014 the Southern Highlands, the Central Coast and Tweed \u2014 as well as one fringe suburb of Sydney, Baulkam Hills.<\/p>\n

In total, 16 NSW suburbs made it onto the top 30 spots across Australia, hogging more than half the list.<\/p>\n

As well as the ones already mentioned, those areas included Coffs Harbour\/Grafton, Sydney\u2019s Sutherland Shire, Newcastle, the Hunter Valley, Illawarra, Sydney\u2019s eastern suburbs, the mid north coast, Murray, Sydney\u2019s north shore, the Capital region and the central west.<\/p>\n

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\"Nationally,<\/div>\n

Nationally, houses rose by 20 per cent in value in the past year. Source: CoreLogic<\/strong><\/em><\/div>\n

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