Are you tired of hearing about Australia’s slow property market conditions? Take a look at these suburbs that are still racking up some impressive sales numbers.
Your Investment Property has taken a look at RP Data’s December statistics to reveal the 10 suburbs that made the largest number of property sales last year (scroll down to see the list).
|
State |
Suburb |
Type |
Number Sold |
Median Price |
12 month Growth |
Average Annual Growth |
Time on Market (days) |
Gross Rental Yield |
Vendor Discount |
|
VIC |
U |
932 |
$376,750 |
-7% |
2.3% |
91 |
6.2% |
-9% |
|
|
QLD |
U |
819 |
$350,000 |
-9% |
7.6% |
148 |
5.3% |
-18% |
|
|
NSW |
H |
772 |
$305,000 |
2% |
8.7% |
106 |
5.6% |
-6% |
|
|
VIC |
H |
726 |
$340,000 |
2% |
9.0% |
78 |
4.9% |
-5% |
|
|
VIC |
H |
722 |
$440,000 |
-2% |
9.0% |
73 |
4.2% |
-6% |
|
|
VIC |
H |
666 |
$445,500 |
2% |
7.0% |
83 |
4.3% |
-6% |
|
|
NSW |
H |
635 |
$387,000 |
-2% |
7.7% |
106 |
4.8% |
-7% |
|
|
NSW |
H |
603 |
$250,000 |
0% |
7.3% |
97 |
5.6% |
-7% |
|
|
NSW |
U |
586 |
$470,000 |
-1% |
3.5% |
50 |
5.0% |
-5% |
|
|
NSW |
U |
555 |
$377,000 |
-1% |
5.3% |
71 |
5.3% |
-5% |
Source: RP Data, December 2011
Units in the suburb of Melbourne, which encompasses the city’s CBD, came out on top last year with a sale count of 932. This performance will come as welcome news to apartment investors in a city whose unit market has been labelled as oversupplied by some commentators. According to RP Data’s December data, units here are yielding well on average, at 6.2%. It’s worth noting however, that with average vendor discounting being recorded at -9% and 12 month growth coming in at -7%, falling prices are likely to have contributed to this attractive average rental yield figure.
Another market that has been labelled with the ‘oversupply’ tag, the beleaguered Surfers Paradise unit market takes the second spot with 819 sales. Units here are sitting on the market for an average of 148 days before selling, however, and average vendor discounting sits at a worryingly high -18% according to RP Data.
Heading inland, houses in the New South Wales suburb of Orange took third place for the highest number of sales last year – shifting 772 homes in 12 months. With RP Data recording a median price of $305,000 for houses in the suburb, relative affordability may have played its part in keeping the area’s sales numbers at such a high level.
Victoria and NSW share the next seven spots, meaning nine of the 10 best-selling suburbs are taken up by these two east coast rivals.
Read on for the five suburbs in each state that recorded the highest number of sales last year, according to RP Data’s December data.
|
State |
Suburb |
Type |
Number Sold |
Median Price |
12 month Growth |
Average Annual Growth |
Time on Market (days) |
Gross Rental Yield |
Vendor Discount |
|
ACT |
U |
272 |
$471,500 |
-5% |
9.8% |
62 |
5.3% |
-3% |
|
|
ACT |
H |
172 |
$480,000 |
1% |
11.1% |
58 |
5.0% |
-4% |
|
|
ACT |
H |
167 |
$417,500 |
6% |
9.6% |
82 |
5.5% |
-6% |
|
|
ACT |
U |
153 |
$432,000 |
1% |
6.5% |
85 |
5.7% |
-9% |
|
|
ACT |
U |
146 |
$372,450 |
-2% |
5.5% |
109 |
6.7% |
-4% |
|
|
NSW |
H |
772 |
$305,000 |
2% |
8.7% |
106 |
5.6% |
-6% |
|
|
NSW |
H |
635 |
$387,000 |
-2% |
7.7% |
106 |
4.8% |
-7% |
|
|
NSW |
H |
603 |
$250,000 |
0% |
7.3% |
97 |
5.6% |
-7% |
|
|
NSW |
U |
586 |
$470,000 |
-1% |
3.5% |
50 |
5.0% |
-5% |
|
|
NSW |
U |
555 |
$377,000 |
-1% |
5.3% |
71 |
5.3% |
-5% |
|
|
NT |
H |
209 |
$197,250 |
10% |
9.6% |
n.a |
16.7% |
n.a |
|
|
NT |
H |
135 |
$227,950 |
n.a |
n.a |
n.a |
n.a |
n.a |
|
|
NT |
U |
114 |
$460,000 |
-2% |
15.3% |
110 |
5.4% |
-9% |
|
|
NT |
H |
83 |
$435,000 |
6% |
11.1% |
42 |
6.2% |
-6% |
|
|
NT |
U |
73 |
$435,000 |
-9% |
11.4% |
96 |
5.7% |
-8% |
|
|
QLD |
U |
819 |
$350,000 |
-9% |
7.6% |
148 |
5.3% |
-18% |
|
|
QLD |
U |
497 |
$325,000 |
-4% |
9.0% |
116 |
5.4% |
-14% |
|
|
QLD |
U |
424 |
$447,000 |
-4% |
3.9% |
102 |
7.1% |
-9% |
|
|
QLD |
H |
380 |
$438,000 |
-3% |
9.9% |
119 |
4.7% |
-9% |
|
|
QLD |
H |
360 |
$405,000 |
4% |
14.1% |
87 |
6.7% |
-6% |
|
|
SA |
H |
345 |
$280,000 |
-2% |
10.7% |
41 |
5.5% |
-5% |
|
|
SA |
U |
316 |
$437,750 |
-2% |
8.4% |
67 |
5.0% |
-7% |
|
|
SA |
H |
277 |
$235,000 |
-2% |
7.4% |
118 |
5.2% |
-8% |
|
|
SA |
H |
230 |
$310,000 |
-5% |
11.1% |
83 |
4.9% |
-8% |
|
|
SA |
H |
230 |
$282,250 |
-1% |
10.5% |
70 |
5.3% |
-6% |
|
|
TAS |
H |
200 |
$240,000 |
-4% |
12.9% |
110 |
5.6% |
-9% |
|
|
TAS |
H |
121 |
$650,000 |
-3% |
10.6% |
86 |
3.8% |
-10% |
|
|
TAS |
H |
117 |
$358,000 |
-6% |
10.9% |
86 |
5.4% |
-7% |
|
|
TAS |
H |
113 |
$260,000 |
-3% |
13.8% |
101 |
6.2% |
-7% |
|
|
TAS |
H |
104 |
$359,500 |
-3% |
12.6% |
92 |
5.0% |
-6% |
|
|
VIC |
U |
932 |
$376,750 |
-7% |
2.3% |
91 |
6.2% |
-9% |
|
|
VIC |
H |
726 |
$340,000 |
2% |
9.0% |
78 |
4.9% |
-5% |
|
|
VIC |
H |
722 |
$440,000 |
-2% |
9.0% |
73 |
4.2% |
-6% |
|
|
VIC |
H |
666 |
$455,000 |
2% |
7.0% |
83 |
4.3% |
-6% |
|
|
VIC |
H |
546 |
$356,500 |
-2% |
10.0% |
80 |
4.5% |
-7% |
|
|
WA |
U |
383 |
$498,000 |
-6% |
9.3% |
120 |
5.1% |
-10% |
|
|
WA |
U |
371 |
$479,000 |
-1% |
8.8% |
106 |
5.6% |
-9% |
|
|
WA |
H |
362 |
$390,500 |
-1% |
11.8% |
83 |
4.9% |
-7% |
|
|
WA |
H |
358 |
$530,000 |
-2% |
14.8% |
98 |
4.6% |
-8% |
|
|
WA |
H |
351 |
$385,000 |
-5% |
12.0% |
93 |
5.1% |
-7% |
Source: RP Data, December 2011
For more data on 5,000-plus suburbs, plus all the latest news and analysis from the YIP team, pick up the latest issue of Your Investment Property magazine. And why not visit our property investment forum to discuss the country’s hotspots with the property investment community?
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