The top suburbs where population growth is driving up property values
While demand for affordable housing is attracting more Australians to fringe suburbs, some are seeing value in regional tourist hotspots
3 min
Australia’s population growth hot spots are mostly affordable property markets on the outskirts of major cities and in regional areas, according to an analysis by PropTrack. But homes may not remain affordable for long, with most of these areas recording above-average price growth over the past five years.
Australia’s population grew by 2.5 percent to 26.8 million people over the 12 months ending 30 September, according to the latest figures from the Australian Bureau of Statistics (ABS). This was an annual increase of 659,800 people, with migrants making up 83 percent of the increase.
REA economist Megan Lieu said home prices in Australia’s population growth hot spots are growing at an above-average pace due to strong buyer demand. However, median prices in the SA3 regions she analysed are still more affordable than their nearest capital cities or major regional cities.
Wyndham, on the western edge of Melbourne, recorded the strongest population growth over the past five years with almost 41,000 more people living there today compared to June 2018. In NSW, Blacktown–North in western Sydney had the highest growth with almost 36,000 new residents. In Queensland, Ormeau–Oxenford in the Gold Coast’s northern suburbs gained almost 28,000 new residents, with Ms Lieu noting it was a popular market with interstate and international migrants.
Ms Lieu said the worst housing affordability in three decades may be driving population growth in areas with lower median values.
“A potential factor contributing to this trend is that homes in a majority of these regions are generally priced lower than their broader greater capital city area (GCCSA),” Ms Lieu said. “This is evident when we look at the current median sale price of homes in these SA3s. Over 60 percent of them sold for less than the median in their respective city or regional area.”
Ms Lieu said other drivers of these areas’ strong population growth could be local councils zoning large swathes of land for home development.
“They tend to be in peripheries of cities where more new homes are being built relative to other areas. The increase in the supply of homes could be contributing to more competitive pricing.”
However, these competitive prices are attracting more demand than supply, leading to strong price growth. “All except four of the SA3 regions have experienced larger price growth in the past five years compared to their corresponding city or regional area,” Ms Lieu said.
The price growth differential is more than 20 percent in some regions, such as Rouse Hill-McGraths Hill in Sydney, Ormeau-Oxenford in Queensland and Fleurieu-Kangaroo Island in South Australia.
Median house prices have moved up dramatically in many of the individual suburbs within the SA3 population hot spots. For example, the median house price in the suburb of Ormeau on the Gold Coast in Queensland is $830,500, according to PropTrack data. It has risen 7.9 percent over the past 12 months and skyrocketed 68 percent over the past five years. The median house price in the suburb of Rouse Hill in north-west Sydney is $977,500, down 2.5 percent over the past year but up 30 percent over five years. The median price in the Melbourne outskirts suburb of Wyndham Vale is $585,000, up 2.5 percent over the past year and 26 percent over five years.
Another factor driving strong price growth may be the increasing lifestyle appeal of these particular areas over the past five years. For example, Ormeau is close to Westfield Coomera, which opened in 2018, and has benefitted from numerous M1 road upgrades between Brisbane and the Gold Coast. Rouse Hill has its own station on the Sydney Metro Northwest rail line, which began running in 2019.
Ms Lieu said it was likely that more Australians would seek cheaper homes in city outskirts areas and the regions as property values continue to grow amid a continued forecast housing undersupply.
“With supply unable to meet continued strong housing demand, home prices may experience further upward pressure,” Ms Lieu said.
Top 3 areas for highest population growth over 5 years
NSW
Blacktown–North, Sydney 36,233 (new residents since 2018)
Bringelly-Green Valley, Sydney 27,741
Rouse Hill-McGraths Hill, Sydney 21,821
VICTORIA
Wyndham, Melbourne 40,833
Melton-Bacchus Marsh, Melbourne 35,818
Casey-South, Melbourne 33,191
QUEENSLAND
Ormeau-Oxenford, Gold Coast 27,719
Brisbane Inner, Brisbane 16,465
Springfield-Redbank, Ipswich 15,326
SOUTH AUSTRALIA
Playford, Adelaide 6,997
Charles Sturt, Adelaide 6,410
Fleurieu-Kangaroo Island, regional South Australia 5,504
WESTERN AUSTRALIA
Swan, Perth 16,959
Wanneroo, Perth 14,885
Mandurah, regional Western Australia 11,156
TASMANIA
Hobart-North East, Hobart 2,723
Devonport, regional Tasmania 1,926
North East, Launceston-North East 1,728
Source: PropTrack, SA3 regions with highest population growth over 5 years
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
This sky-high home on the Sunshine Coast with iconic shipping container pool is a testament to modern design and engineering.
3 min
A breathtaking view and a lush quarter-acre block are high up the wish list with any lifestyle property, but this contemporary Buderim residence takes things to another level.
Designed and built by owners Stu and Nat Faid, the Sunshine Coast home reflects their vision and incredible attention to detail.
As an architect and designer, Nat believes a prime position deserves an incredible project.
“The heart of the house is undoubtedly the living area and expansive deck. At over 100sq m and elevated more than 6m above the ground, you literally feel like you’re floating. We love how the views stretch from the Glass House Mountains along the coastline to Mooloolaba. Across the ocean, you can even see the sandbanks on Moreton Island,” she says.
While the views and the 1024sq m land parcel make their mark, it’s the suspended 12m heated shipping container swimming pool that’s making waves locally.
“When people arrive, the first thing they do is look up,” Nat adds.
After purchasing the property in 2021, the pair knew the existing house wouldn’t live up to their family of four, but they fell in love with the location and outlook so decided to adapt.
Initially, the pool’s unique design was simply a reaction to an everyday Queensland problem, but ultimately became a feature.
“The pool was at first a product of practicality. We wanted to be able to watch the kids in the pool from the house, but to do that required elevating the pool more than six meters off the ground,” Stu says.
“When we looked at the engineering required, it conflicted with our minimal-touch ethos in preserving the land and the visual aesthetic of the finished design. What followed was a lot of searching for a solution, and as luck would have it, the answer was almost on our doorstep.”
Shipping Container Pools seemed like a no-brainer answer to the pool problem. Having moved internationally multiple times, the couple saw an opportunity to weave their personal story into the fabric of their new home.
“The opportunity to incorporate a nod to that chapter of our life into the build was too good to miss,” he says.
“It also unashamedly reinforces the origins of the pool construction, which ties into the rest of the design in the house. Throughout the home, we have embraced where the old meets the new, we have not tried to blend, cover or hide the origins of the home, we have chosen instead to make sure the evolution of the house is clear to see.”
The Faids’ global family journey is evident throughout the home, from the grand Middle Eastern entry doors sourced from Dubai where the couple once lived, to the remarkable views from the Glass House Mountains to Mooloolaba.
Created to enjoy every season, the house has a space for all eventualities with an open plan living area spilling out to the full-width deck and pool, a sleek kitchen with an Ilve integrated fridge and freezer, Bosch ovens, an induction cooktop, built-in coffee machine and microwave, two dishwashers, filtered water and a butler’s pantry.
Four spacious bedrooms each have built-ins, the main features a large ensuite with twin vanities and two more bedrooms share a“Jack and Jill” style bathroom. There is also a third full bathroom.
The Buderim home is 12.5kms from Mooloolaba and the Mooloolaba River National Park with the Sunshine Coast Airport 13.5kms to the north, however Stu adds that there is rarely a reason to leave.
“It would be fair to say that apart from popping down the hill to go to the beach, we often go days without ever leaving the village. It’s really is a wonderful spot.”
Packed with mod cons, the Buderim home also features six-zone ducted air-conditioning, engineered oak floors and a double-sided Stuv wood-burning fireplace, a mudroom, heated floors and sensor lights in the bathrooms. There is also a private elevator, solar power and battery, as well as landscaped gardens and a large lock up garage and shed.
The property at 10 Orient Court, Buderim is listed with Zoe Byrne and Greg Ward from Ray White Buderim and will go to auction on September 22 at 9am at Mercedes-Benz Sunshine Coast, 65 Maroochy Blvd, Maroochydore.
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
