Prices have increased rapidly in many affordable parts of the capitals, but a typical home in many of these areas won’t break the bank.
The capital city areas with the strongest annual growth has mostly been in more affordable parts of the city, new PropTrack data shows, though house prices remain below $1 million in many cases.
Analysis of the top 10 capital city markets for price growth shows the price of a typical house rose by between $59,000 and $106,000 in the past year.
The data compares growth in median house prices for SA4 regions of the capitals, which are geographical areas defined by the Australian Bureau of Statistics (ABS) with a minimum population of 100,000 people.
Jump ahead to see the 50 top suburbs for price growth within the outperforming capital city markets.
Of the top growth capital city regions for house prices, only three areas — Adelaide’s south and west, and Brisbane’s east — had median house prices above that of the wider city.
The other areas were typically much cheaper than their wider city overall – in some cases by hundreds of thousands of dollars.
Capital city regions where house prices grew fastest
| Region (SA4) | Median value | Annual growth (%) | Annual growth ($) | |
| 1 | Adelaide – South | $924,000 | 11% | $77,000 |
| 2 | Ipswich | $792,000 | 10.1% | $76,000 |
| 3 | Perth – North East | $868,000 | 9.7% | $76,000 |
| 4 | Adelaide – North | $756,000 | 9.7% | $65,000 |
| 5 | Sydney – South West | $1,227,000 | 9.5% | $106,000 |
| 6 | Adelaide – West | $1,003,000 | 9.3% | $79,000 |
| 7 | Moreton Bay – North | $878,000 | 9.2% | $70,000 |
| 8 | Mandurah | $756,000 | 8.9% | $59,000 |
| 9 | Moreton Bay – South | $999,000 | 8.7% | $87,000 |
| 10 | Brisbane – East | $1,104,000 | 8.6% | $89,000 |
The top growth region in the past year was Adelaide’s south where house prices are up 11% compared to a year ago, equating to about a $77,000 gain.
Adelaide has been one of the strongest capital cities for house price growth for the past few years. Picture: Getty
Other Adelaide regions with strong price growth include the city’s north (up 9.7%) and west (up 9.3%).
House prices in Adelaide grew faster than any other capital in the past year, according to the latest PropTrack Home Price Index, with Brisbane and Perth not far behind.
These cities’ more affordable markets were also well-represented in the list of top performing regions, including Ipswich, which recorded 10.1% house price growth, and north east Perth where prices rose 9.7%.
Unit prices are up in Perth’s north west, following strong house price growth. Picture: realestate.com.au/sold
High interest rates in recent years have encouraged more homebuyers and investors to seek homes in affordable cities, as well as more affordable regions within cities, where mortgage repayments are typically more manageable.
This has led to the outperformance of the smaller capitals when it comes to price growth, although this trend is beginning to diminish as growth rates normalise.
Rapidly rising prices have pushed more buyers towards these cities’ outer suburbs where homes tend to be cheaper, said REA Group senior economist Anne Flaherty.
“In capitals that have seen very strong rates of growth, such as Adelaide, Perth and Brisbane, it’s the more affordable suburbs in these high-performing cities where prices have grown most,” she said.
Sydney’s median house price goes a lot further in the city’s south west. This five-bedroom Edensor Park house recently sold for $1.58 million – on par with Sydney’s overall median house price. Picture: realestate.com.au/sold
One of the most notable regions in the list of top-performers was Sydney’s south west, where the median house price rose 9.5% in the past year, equating to growth of $106,000 in a year.
Price growth in the region has accelerated recently, with the region’s median house value rising almost 5% in the past three months to about $1.23 million
By comparison, Sydney’s overall median house price grew by just 3.4% in the past year to $1.56 million.
That’s a faster growth rate than Melbourne, Hobart and Canberra, but slower than Darwin.
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South west Sydney was the priciest region to make the top 10 list, but is one of the least expensive parts of the city.
“South west Sydney is still, as far as Sydney regions go, one of the most affordable,” Ms Flaherty said.
“The median price is very high compared to other areas on the list, but by Sydney standards, a house for $1.2 million is definitely below the median house price in most other parts of the city.”
“It’s also an area where population growth is very strong, and there’s been big improvements in infrastructure in recent years.”
Infrastructure projects such as Western Sydney Airport, due to open in late 2026, have helped boost property values in Sydney’s south west. Picture: Getty
Western Sydney Airport is one such project that has had a major influence on the area, with home prices lifting significantly in nearby suburbs that are benefiting from growing employment opportunities, road upgrades and housing development.
“When a project is announced, it adds value to an area before it’s completed,” Ms Flaherty said.
Local real estate agent Blaz Dejanovic said south west Sydney’s relative affordability kept demand for homes high, while rate cuts gave buyers more money to spend.
“The conversation around interest rates going down is creating a bit of positive sentiment,” he said. “Buyer confidence is strong.”
Increased development in recent years had also helped uplift property values, Mr Dejanovic said, with many homeowners and investors looking to create additional income streams or increase yields.
“New builds are performing really well, and there’s a big market for properties where you can build granny flats,” he said.
“You can build a granny flat today for $200,000 and you can rent it out for about $600 a week.”
Capital city regions where unit prices grew fastest
| Region (SA4) | Median value | Annual growth (%) | Annual growth ($) | |
| 1 | Ipswich | $624,000 | 20.3% | $76,000 |
| 2 | Perth – North East | $533,000 | 16.6% | $76,000 |
| 3 | Perth – North West | $621,000 | 16.1% | $72,000 |
| 4 | Mandurah | $545,000 | 15.8% | $59,000 |
| 5 | Brisbane – North | $725,000 | 13.8% | $88,000 |
| 6 | Brisbane Inner City | $774,000 | 13.8% | $52,000 |
| 7 | Adelaide – North | $531,000 | 13.4% | $65,000 |
| 8 | Perth – South West | $594,000 | 11.7% | $63,000 |
| 9 | Moreton Bay – North | $645,000 | 11.2% | $70,000 |
| 10 | Moreton Bay – South | $658,000 | 11.1% | $87,000 |
Affordable areas were also among the top growth capital city regions in the unit market, but growth rates were much higher.
Ipswich topped the charts with 20.3% growth in values, equating to a jump of $76,000 to a median unit price of $624,000.
Unit prices in Ipswich have surged after big jumps in house prices pushed buyers towards more affordable options. Picture: realestate.com.au/sold
Local real estate agent Richard Bolton said unit prices had strengthened since house prices became increasingly unaffordable for many buyers with lower incomes.
“People are now stretching to get to a unit,” he said.
“If you’re a single person working making $50,000 to $60,000, the only thing you can afford is a unit. It’s a stepping stone to get into the market.”
Brisbane’s north and inner city were the city’s best performing markets for units. Picture: realestate.com.au/sold
All of the top 10 capital city regions for unit price growth were in Brisbane, Perth and Adelaide, and were areas where house prices have risen considerably recently.
In these regions, units are typically hundreds of thousands of dollars cheaper than houses, with housing demand now spilling over into the more affordable property type.
Top suburbs for price growth in outperforming markets
Price data at the suburb level shows that within each of the top performing regions of the capitals, there are suburbs where prices are growing even more rapidly.
In some suburbs, such as Cabramatta, Bonnyrigg and Cecil Hills in south west Sydney, median house prices have increased by more than $200,000 in 12 months.
| Suburb | Median house price | 12-month change (%) | 12-month change ($) | |
| Adelaide – South | ||||
| 1 | Somerton Park | $2,092,500 | 40.9% | $607,500 |
| 2 | South Brighton | $1,500,000 | 28.2% | $330,000 |
| 3 | Port Noarlunga South | $940,500 | 25.0% | $188,000 |
| 4 | Panorama | $1,163,750 | 24.1% | $226,250 |
| 5 | Seaford Heights | $806,000 | 24.0% | $156,000 |
| Ipswich | ||||
| 1 | Kensington Grove | $959,500 | 30.2% | $222,500 |
| 2 | Newtown | $835,000 | 27.1% | $178,000 |
| 3 | Toogoolawah | $545,000 | 26.7% | $115,000 |
| 4 | Tivoli | $660,000 | 26.1% | $136,500 |
| 5 | One Mile | $630,000 | 26.0% | $130,000 |
| Perth – North East | ||||
| 1 | Bullsbrook | $762,000 | 27.0% | $162,000 |
| 2 | Stratton | $610,000 | 25.0% | $122,000 |
| 3 | Middle Swan | $622,500 | 24.5% | $122,500 |
| 4 | The Vines | $1,162,500 | 24.3% | $227,500 |
| 5 | Noranda | $945,000 | 23.9% | $182,500 |
| Adelaide – North | ||||
| 1 | Blair Athol | $901,000 | 28.7% | $201,000 |
| 2 | Elizabeth Grove | $522,000 | 26.5% | $109,500 |
| 3 | Elizabeth Vale | $630,400 | 26.1% | $130,400 |
| 4 | Evanston | $595,000 | 24.0% | $115,000 |
| 5 | Salisbury Park | $700,000 | 23.9% | $135,000 |
| Sydney – South West | ||||
| 1 | Cabramatta | $1,367,500 | 23.8% | $262,500 |
| 2 | Bonnyrigg | $1,152,500 | 21.6% | $205,000 |
| 3 | Cecil Hills | $1,488,500 | 21.3% | $261,000 |
| 4 | Mount Pritchard | $1,152,000 | 20.0% | $192,000 |
| 5 | Austral | $1,050,000 | 19.3% | $170,000 |
Meanwhile, house prices in affordable suburbs of Adelaide’s north have maintained a strong upward trajectory, with Salisbury Park cracking the $700,000 mark.
Big gains in premium markets have helped boost values in Adelaide’s south. Picture: realestate.com.au/sold
Big price jumps were also recorded in Adelaide south, which includes several premium beachside suburbs such as South Brighton and Somerton Park, which is now in the $2 million club after a $600,000 rise in median house prices in the past 12 months.
| Suburb | Median unit price | 12-month change (%) | 12-month change ($) | |
| Ipswich | ||||
| 1 | Goodna | $491,500 | 38.5% | $136,500 |
| 2 | Raceview | $570,000 | 21.8% | $102,000 |
| 3 | Redbank Plains | $515,250 | 20.6% | $88,000 |
| 4 | Richlands | $631,000 | 20.2% | $106,000 |
| 5 | Doolandella | $610,000 | 19.3% | $98,556 |
| Perth – North East | ||||
| 1 | Bassendean | $570,000 | 32.6% | $140,000 |
| 2 | Maylands | $515,900 | 25.8% | $105,900 |
| 3 | Midland | $475,000 | 24.5% | $93,500 |
| 4 | Noranda | $540,000 | 22.7% | $100,000 |
| 5 | Morley | $557,500 | 21.9% | $100,000 |
| Perth – North West | ||||
| 1 | Tuart Hill | $575,000 | 33.7% | $145,000 |
| 2 | Balga | $500,000 | 33.0% | $124,000 |
| 3 | Osborne Park | $492,500 | 29.6% | $112,500 |
| 4 | Joondalup | $535,500 | 29.0% | $120,500 |
| 5 | Nollamara | $558,888 | 27.0% | $118,888 |
| Mandurah | ||||
| 1 | Mandurah | $480,000 | 26.3% | $100,000 |
| 2 | Greenfields | $510,000 | 20.6% | $87,000 |
| 3 | Halls Head | $623,000 | 16.9% | $90,000 |
| 4 | Erskine | $488,000 | 12.2% | $53,000 |
| 5 | Dudley Park | $427,000 | 11.1% | $42,500 |
| Brisbane – North | ||||
| 1 | Stafford | $700,000 | 30.8% | $165,000 |
| 2 | Nundah | $680,000 | 23.6% | $130,000 |
| 3 | Bracken Ridge | $675,000 | 22.7% | $125,000 |
| 4 | Aspley | $780,000 | 21.4% | $137,500 |
| 5 | Boondall | $750,000 | 20.9% | $129,717 |
In the unit market, buyers can expect to pay $100,000 more than last year for a unit in suburbs of Ipswich such as Goodna and Raceview, parts of northern Perth including Tuart Hill and Balga, and northern Brisbane suburbs such as Stafford and Nundah.