The top growth suburbs of the past 20 years

Find out which suburbs in Adelaide, Brisbane, Melbourne and Sydney  have experienced the best capital growth over the past 20 years. Is yours on the list?

If you bought a home in Kilburn in South Australia in 2000 and still owned it you should give yourself a pat on the back as your investment could have grown by 683% in that time. Kilburn was the top-performing suburb in that timeframe according to data compiled by realestate.com.au which identified the biggest growth suburbs of the past 20 years in Adelaide, Brisbane, Sydney and Melbourne.

Tyabb in Victoria’s Mornington Peninsula was close behind with the median price increasing by 682% from $121,500 in June 2000 to $950,000 in June 2020.

The top long-term performer in Sydney was Harrington Park where median prices grew by 549% over that 20-year period while in Brisbane it was Windsor with a return of 492% since 2000.

Nerida Conisbee, realestate.com.au Chief Economist, told Canstar that home buyer preferences have changed over that time. “Twenty years ago, it was popular to live in the suburbs, in big homes on big blocks. Since then, we’ve seen a shift towards coastal living and also inner-city living with amenities within walking distance,” she explained.

“There has also been a lot of gentrification in suburbs that younger people have moved into. Younger demographics tend to renovate and demand better local services, which gives suburbs a renewed energy and often leads to big price growth.

“Suburbs that have undergone urban renewal or have become more desirable to buyers as their preferences shifted, have recorded strong price growth.”

Let’s take a look at the top 10 in Adelaide, Brisbane, Melbourne and Sydney.

 

Henley Beach Jetty
Henley Beach Jetty in Adelaide. The suburb’s median price rose by 368% over 20 years. Source: amophoto_au (Shutterstock)

Adelaide and surrounds

With the median house price increasing from $55,500 in June 2000 to $434,400 in June 2020 Kilburn, which is about 9 kilometres north of the CBD, is by far the best performer in Adelaide. Interestingly it shares the same postcode as Blair Athol which is fourth on the list with a return of 413% over 20 years – still nothing to sneeze at. In fact the top six suburbs in Adelaide are all in close proximity to each other.

Seaside suburb Henley Beach, which is about a 20-minute drive from Adelaide city, was seventh on the list with the median price growing by 368% over the 20 years and is now nearing $1 million.

Adelaide & surrounds, SA: Top 10 growth suburbs over the past 20 years
Suburb Growth Median house price

June 2000

Median house price

June 2020

Kilburn 683% $55,500 $434,400
Greenacres 442% $85,400 $462,500
Northfield 426% $85,000 $447,000
Blair Athol 413% $97,500 $500,000
Windsor Gardens 397% $96,000 $477,500
Clearview 397% $90,000 $447,500
Henley Beach 368% $201,000 $940,000
Willunga 366% $125,000 $582,500
Rosewater 363% $84,000 $389,000
Christies Beach 357% $80,000 $365,500
Source: realestate.com.au

 

View of Brisbane skyline from New Farm
View of the Brisbane skyline from New Farm, which was the seventh best-performing Brisbane suburb over the past 20 years. Source: AdrianoK (Shutterstock)

Brisbane and surrounds

Many of the suburbs to make the top 10 list in Brisbane were in inner-city locations. All have grown by more than 425% in the 20 years since the turn of the century. Six of the 10 suburbs had median prices of more than $1 million in June 2020.

Just 2 kilometres from the CBD riverside suburb New Farm has the highest median price of the suburbs on the list at $1.6 million. This is 442% more than the $295,000 median price in June 2000.

Brisbane & surrounds, Qld: Top 10 growth suburbs over the past 20 years
Suburb Growth Median house price

June 2000

Median house price

June 2020

Windsor 492% $183,000 $1,082,500
Bulimba 481% $240,000 $1,395,000
Coorparoo 468% $185,000 $1,050,000
Grange 463% $206,000 $1,160,000
Sandgate 459% $140,000 $782,500
Salisbury 443% $115,000 $625,000
New Farm 442% $295,000 $1,600,000
Rocklea 433% $76,500 $408,000
Hawthorne 432% $265,000 $1,410,000
Deagon 427% $91,000 $480,000
Source: realestate.com.au

 

Beach boxes in the Mornington Peninsula
Beach boxes in the Mornington Peninsula. Five of the top 10 best-performing suburbs in Melbourne surrounds are in this region. Source: Joel Everard (Shutterstock)

Melbourne and surrounds

Half of the suburbs in Melbourne’s top 10 list – Tyabb, Somers, Crib Point, Rye and Tootgarook – are located in the Mornington Peninsula region. Tyabb and Somers, which are the two best performers, now have median prices close to the $1 million mark at $950,000 and $970,051 respectively. Crib, Rye and Tootgarook are more affordable with median prices ranging from $525,000 and $702,500, despite all having grown by more than 475% since 2000.

Clayton, which is home to Monash University, is third on the list with the median price soaring by 560% to $1.2 million.

With a median price of $465,000 back in 2000 the inner-city suburb of Malvern would have no doubt been seen as expensive even back then. Given that the median price has increased by 502% to $2.8 million I can’t imagine anyone who bought a home and still owned it would be complaining.

Melbourne & surrounds, Vic: Top 10 growth suburbs over the past 20 years
Suburb Growth Median house price

June 2000

Median house price

June 2020

Tyabb 682% $121,500 $950,000
Somers 574% $144,000 $970,051
Clayton 560% $182,000 $1,200,500
Springvale 510% $125,000 $762,000
Malvern 502% $465,000 $2,800,000
Box Hill 501% $270,000 $1,623,500
Mont Albert North 486% $263,000 $1,540,500
Crib Point 483% $90,000 $525,000
Rye 481% $121,000 $702,500
Tootgarook 477% $104,000 $600,000
Source: realestate.com.au

 

Aerial view over Bondi
Aerial view over Bondi. The median price in North Bondi grew by 375% since 2000. Source: Juergen_Wallstabe (Shutterstock)

Sydney and surrounds

Harrington Park in the Macarthur region is in top spot. In 2000 a house in Harrington Park would have set you back less than $150,000 but by June 2020 you’d be paying $800,000 more as the median price is now $960,000. Nearby Currans Hill is in second place with the median price increasing by 530% over 20 years to $605,000.

Three of the locations to make the top 10 list are in the Central Coast region. They are Hamlyn Terrace (509%), Lisarow (383%) and Erina (376%).

North Bondi in 10th spot is the suburb closest to the CBD on this list with the median price growing by 375% to a whopping $2.85 million.

Sydney & surrounds, NSW: Top 10 growth suburbs over the past 20 years
Suburb Growth Median house price

June 2000

Median house price

June 2020

Harrington Park 549% $148,000 $960,000
Currans Hill 530% $96,000 $605,000
Hamlyn Terrace 509% $101,500 $618,000
Rouse Hill 472% $164,000 $938,000
Beaumont Hills 459% $207,000 $1,158,000
West Hoxton 424% $159,250 $835,000
Canley Vale 394% $168,000 $830,500
Lisarow 383% $150,000 $725,000
Erina 376% $180,000 $857,500
North Bondi 375% $600,000 $2,850,000
Source: realestate.com.au

This article was reviewed by Editorial Campaigns Manager Maria Bekiaris before it was published as part of our fact-checking process.

Main image source: gopixa (Shutterstock)


Canstar’s Editor-at-Large, Effie Zahos, has more than two decades of experience helping Aussies make the most of their money. Prior to joining Canstar, Effie was the editor of Money Magazine, having helped establish it in 1999. She is an author and one of Australia’s leading personal finance commentators, appearing regularly on TV and radio.

Share this article