Affordable suburbs recording strong price growth

15/03/2010

Affordable suburbs witnessed the strongest growth over the last decade according to RP Data. Thirteen suburbs in the Top 20 have a current median price below $300,000. Eighteen of the 20 suburbs detailed currently have a median price below $400,000.

Outside the capital cities, the strongest annual median price growth of 35 per cent was in the North Queensland township of Silkwood. Mirroring the results across the capital city markets, the majority of the best performers during the past decade have been for houses rather than units.

In summary, many of the capital city suburbs detailed are situated on the outskirts of cities and have seen strong growth due largely to the fact that in most instances pricing has come from a very low base ten years ago. In regional areas it has again generally been remote areas or those on the outskirts of larger regional markets which have seen prices grow from a very low base.

Source: RP Data