Due to the coronavirus pandemic, housing prices are booming across all of Australia’s capital cities for the first time ever, particularly in beachside areas.

According to realestate.com.au, here are the highest growth suburbs which have recorded the largest year-on-year increase in median sale price.

Adelaide

  1. Millswood – 34.6 per cent
  2. Hove – 33 per cent
  3. Seacliff – 21.3 per cent
  4. Blackwood – 21.1 per cent
  5. Craigburn Farm – 20.7 per cent

Brisbane

  1. St Lucia – 37.5 per cent
  2. Sandgate – 22.9 per cent
  3. Virginia – 22 per cent
  4. Highgate Hill – 20 per cent
  5. Samford Valley – 19.4 per cent

Hobart

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  1. Dodges Ferry – 29.4 per cent
  2. Primrose Sands – 26.4 per cent
  3. Carlton – 19.4 per cent
  4. Rokeby – 18.1 per cent
  5. Berriedale – 17.2 per cent

Melbourne

  1. Tyabb – 43.6 per cent
  2. Aberfeldie – 24.4 per cent
  3. Collingwood – 23.4 per cent
  4. South Melbourne – 22.9 per cent
  5. Coburg – 20.5 per cent

Perth

  1. Coodanup – 29.1 per cent
  2. Kelmscott – 26.6 per cent
  3. Medina – 20.3 per cent
  4. Mount Nasura – 20 per cent
  5. Madora Bay – 18.4 per cent

Sydney

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  1. Pearl Beach – 45.5 per cent
  2. North Willoughby – 43.8 per cent
  3. Glenorie – 40.5 per cent
  4. North Avoca – 38.6 per cent
  5. Bayview – 34.1 per cent

“If you see a 40 per cent increase in one area over the past 12 months, it’s unlikely that will continue,” REA Group Chief Economist Nerida Conisbee said about the new trend.

If you’re looking to buy, check out smaller properties or surrounding suburbs, as larger blocks are likely to get the best return right now.

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