Australia's top 10 suburbs where house prices have doubled in less than four years

The Australian property market is considered one of the most highly dynamic markets in the world, frequently both pleasing and startling homeowners, investors, and analysts. While there have been suburbs that experienced steady growth, sometimes the doubling of property prices within less than four years has been remarkable. Such booms are sometimes the culmination of a few factors like infrastructure upgrades, lifestyle changes, economic growth, or increased demand by investors and owner-occupiers.

In this blog post, we'll look at the top 10 Australian suburbs experiencing housing prices growing at a rate unprecedented to anything in Australian history. We'll also present real drivers behind the growth and what buyers and investors should think before diving into the market.

1. Warriewood, New South Wales

A peaceful coastal town, Warriewood at Northern Beaches of Sydney has morphed into one of the prime sought-after suburbs. The relaxed lifestyle with scenic beaches and proximity to the Sydney CBD attracted families and professionals who wanted a beachside lifestyle. Local infrastructure, new housing projects, etc., have seen a massive surge in demand in this area.

This is the key driver of growth in Warriewood, including improvements in transport connections to the central city as well as community amenities. Once the Northern Beaches B-Line express bus service commenced, the suburb was more accessible to the city center and hence attracted more interest. The developments also include a number of new residential modern developments and expansions of schools, shopping centers, and recreational facilities, which all have made Warriewood a desired home.

Over the past four years, these factors have pushed the prices for property up in Warriewood by a factor of two. This 'price growth' has brought sharp investors and high-net-worth buyers who want to stay close to action but move further from Sydney's hustle and bustle.

2. Frankston South, Victoria

Frankston South is another beachside suburb, situated at the southeastern edge of Melbourne, and house prices have soared to a great extent. It was once considered an affordable place; however, with such an attractive coastal appearance and improving infrastructure, great prices have been hiked in this area over the last few years. This is a nice combination of sea-edge living with leafy street avenues and easy connectivity to Melbourne's CBD.

The strategic positioning along Port Phillip Bay has provided the major growth point for Frankston South with wonderful views along beaches and ample scopes for recreation. The facelift of Frankston foreshore and investment into the local facilities like improvement of Frankston Hospital have added further reasons for people to like the area. These factors have made Frankston South one of the suburbs that young families and professionals prefer. There has been high demand for houses, coupled with dramatic increases in property prices.

3. Wynnum, Queensland

Wynnum is one of the sea-side suburbs located by the beautiful Moreton Bay in Brisbane. It is another suburb whose prices have doubled in less than four years. Characterized by lovely seaside ambiance and community vibe, the bayside suburb has redoubled its appeal over the last few years. Wynnum has become one of the most desirable suburbs of Brisbane, good for families and young professionals.

The principal drivers of increasing property value in the Wynnum area relate to the city's change into a lively community with enhanced cafe culture and accessible waterfront parks. The suburb has also managed to remain up-to-date in terms of development with new retail spaces, residential developments, and general upgrades to local amenities cropping up due to such investment. With its proximity to the Brisbane CBD, buyers of properties who desire a coastal lifestyle are knocking their ways to Wynnum, where a serious property boom is underway.

4. Mawson Lakes, South Australia

Another good example is the innovative suburb, Mawson Lakes, in Adelaide's northern suburbs. This is where a well-planned community supports lakeside views, modern housing developments, and perfect connectivity are seen. This is evident in the type of people the suburb is attracting-from students and young professionals to families and retirees.

What really distinguishes Mawson Lakes is its concept as a totally self-sustained suburb where people have access to schools, universities, and other forms of recreational activity and an optimistic business hub. The added advantages of such amenities, coupled with its proximity to renowned institutions like the University of South Australia, have sent demand for the area's properties skyrocketing. House prices have doubled as more and more buyers are drawn to Mawson Lakes' blend of modernity and lifestyle.

5. Gungahlin, Australian Capital Territory (ACT)

Gungahlin has become one of the ACT's most exciting growth areas in Canberra as a major district. The region's new and modern infrastructure, access to public transport services, and planning that focuses more on community have made it the choice of young professionals, families, and investors alike. For several years now, the suburb has undergone significant changes through new transport networks and improved amenities, in addition to ongoing urban development programs.

There are attractive shopping precincts, new recreational facilities, and closeness to the city center, which creates a high demand for housing and property prices doubling in less than four years. Gungahlin will remain one of the key growth corridors in Canberra, which will attract homeowners and investors.

6. Southport, Queensland

Southport is also located in the picturesque Gold Coast and enjoying real estate boom. Southport is Gold Coast's central business area, and lately, there have been concerted redevelopment works. The light rail system has been extended, high-rise residential projects have been undertaken, and the Broadwater Parklands have been upgraded to make Southport even more attractive to its residents.

Proximity to famous beaches, shopping precincts, and entertainment hubs has attracted a diverse cross-section of buyers from local professionals to international investors. Lifestyle and investment appeal have pushed property prices sky-high in Southport.

7. Belmont, New South Wales

The suburb of Belmont in the Hunter Region lakeside is a thing of beauty and amenities-it's more of a hot spot in property circles. On the shores of Lake Macquarie, it offers a picturesque lakeside lifestyle. With Newcastle's bustling CBD just a few minutes' drive away, the area is attracting retirees, families, and water sports fans alike, and demand for homes here is hotting up.

All these helped to become a growth area in Belmont: a pleasant location relative to the lake, recreational facilities, and new residential development. Presently, more people appear to live lakeside and construction of further infrastructure has brought about a sharp surge in price.

8. Tarneit, Victoria

Tarneit is one of the outer west suburbs of Melbourne. This suburb has been one of the standout performers in Victoria's property market. For a long period, this outer-west city was one of the more affordable suburbs compared to the inner-city suburbs. The steadily increased number of new residents together with increased demand for housing have made the suburbs grow quickly. First-home buyers, families, and investors are attracted by the strategic location of the suburb and infrastructure projects expected to go ahead soon.

However, government investment in new schools, parks, transport options, and shopping centers have all paid off and added to the boom of Tarneit. New railway lines opened the city, and with improvement in road connectivity, it became an easily accessible location for buyers, and house prices shot sky-high in no time.

9. Coogee, Western Australia

Coogee is one of the coastal suburbs in Perth, which has also gradually been developing over many years. This suburb has attracted so many people for so many years, thanks to the splendid view of the sea and newly developing residential projects. It is really hot property due to its wonderful beaches, active community, and proximity to Fremantle and Perth CBD.

Recent infrastructure works and developments, including new beachfront apartments and the renewal of the local area, further enhance Coogee's attractiveness. The lack of land supply and heavy demand led to a doubling of house prices overnight. Coogee is still a great value purchase for those seeking a relaxed beachside lifestyle in an up-and-coming suburb.

10. Springfield Lakes, Queensland

Part of the much broader Greater Springfield area, Springfield Lakes has evolved to become a thriving suburb north of Brisbane. About the well-thought-out master plan and the child-friendly surroundings of Springfield Lakes, its people want a good school, shopping, and transport centers. Since its conceptualization as a growth corridor, the suburb has grown by leaps and bounds with many families choosing this suburb as their base.

Continuous investment is also been put into the Greater Springfield region's infrastructure by developing additional public transport and recreational facilities, which has contributed to the demand in the suburbs. Based on community amenities, affordable housing options, and future development projects, the area has contributed to making Springfield Lakes a booming suburb with property prices doubling in less than four years.

What's Driving the Boom in These Suburbs?

The following key factors help drive the property boom in these suburbs:

Infrastructure Development. Most of these suburbs have the development of major transport, education, healthcare, and recreational facility investments. In most cases, easier access and amenities trigger demand and hence push up the prices of properties.

Lifestyle appeal. The attraction of beaches, lakes, or well-designed communities has had considerable allure for the buyer seeking a better quality of life. Many of these suburbs provide that rare combination of natural beauty, amenities, and lifestyle options, making them a target for many types of buyers.

Close proximity to Major Cities: Suburbs falling within the commuting distance to major CBDs are fast becoming popular. Improvement in public transport and road networks makes sense for people to live outside city centers but access places of work and leisure with ease.

Development and Urban Renewal: Ongoing development projects, consisting of residential, retail, and recreational initiatives, redevelop the suburbs into thriving towns. Growth and modernization propel up demand and prices because these areas continue to grow.

Is Now the Good Time to Invest?

While rapid growth regions of suburbs may prove to be a gilt-edged opportunity for investors seeking opportunities, one needs to tread with caution. Doubling up house prices could signal an excellent growth story, but one needs to scan if this growth is sustainable in the long term. Going forward, factors such as future infrastructure projects, supply and demand dynamics, and market trends will determine how these suburbs perform.

Investors have to analyze other factors, including population increase, employment, and probability of further development, before investing in a specific area. Selling off and not basing decisions solely on a short-term trend also limits risk exposure.

Conclusion

The Australian property market is always in constant change. These top 10 suburbs exemplify how fast price increases can be in the locality. A homebuyer and investor should first understand the drivers of growth in each of the respective suburbs, which makes for informed decisions. Of course, the attractiveness to buying into these booming suburbs proves enticing, but there's definitely caution being taken with the assessment of risk vs reward.

They are ideal places to purchase or invest if a person is considering either. One should think of taking time to evaluate his or her financial objectives, what the particular market conditions are in the local, and what the prospects for long-term growth may be. But as you know, property investment is all about information and making informed decisions.