House prices in some Australian suburbs have surged by up to $300,000 in just three months, despite many of them being kilometres away from public transport and even further from the CBD.
Between January and April Sydney’s median price for a home with a backyard increased by 11.2 per cent.
But upmarket suburbs on the Upper North Shore, the Northern Beaches and the Sutherland Shire had price growth that was double that in the same period of time, CoreLogic data showed.
Brisbane’s best-performing suburb Pullenvale, in the city’s leafy west, saw its median property price surge by 12.4 per cent in three months to $1.439million.
Brisbane’s double-digit performers
The Sutherland Shire, where Prime Minister Scott Morrison has a house and is the local member for Cook, had three spots in the top ten list.
Kurnell, the former home of a Caltex oil refinery and the site where Captain Cook landed in 1770, saw its median home price surge by 19 per cent in just three months to $1.429million.
Rounding out the top ten list, Yowie Bay property prices climbed by 15.9 per cent to $1.8million as nearby Grays Point’s median dwelling value rose by 15.4 per cent to $1.58million.
Brisbane’s best-performing suburb Pullenvale, in the city’s leafy west, saw its median property price surge by 12.4 per cent in three months to $1.439million.
The Queensland capital also saw double-digit increases with home prices rising by 10.4 per cent to $586,777 at Amity in Brisbane’s east and by 10.4 per cent at Seven Hills, on the inner south side, to $1.073million.
Article Source: www.dailymail.co.uk
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