Australian Property Price Growth Superstars
2015-07-08IT’S not the blue chip inner city suburbs that are the top performers for long term capital growth according to property analyst Terry Ryder of Hotspotting.
Mr Ryder analysed the market in terms of the average annual rise in median house prices over the past decade.
He found despite a sharp decline in prices in the past couple of years, many of the top performers were regional towns which had been influenced by mining or resources activity.
While Humpty Doo was not affected by mining Mr Ryder said its capital growth rate of 20.7 per cent a year was largely as a result of urban sprawl in Darwin.
Mr Ryder said although most mining and resources areas had suffered “marked’’ drops in property values and rentals recently, they still recorded the best long term results.
“None of the capital city suburbs has a long-term capital growth rate good enough to make the Regional Australia Top 20,’’ he said.
The iron ore town of Newman in the Pilbara in Western Australia was second on the list with average growth of 18.1 per cent a year for the past ten years.
Mr Ryder said the good results weren’t necessarily a sign that it was a good investment for people to go and buy in those mining towns now.
He said some of them still had a way to go in terms of prices dropping and a lot of it was determined by outside factors such as the commodity prices and demand.
“We are not suggesting that people should buy in these places,’’ he said.
“Probably the opposite for some of those places on this list.
“What it means is if you bought in these areas ten years ago even with recent price drops you would still be well ahead.’’
He said people who bought in the mining and resources towns in the last couple of years would probably be feeling some price drop pain.
Suburbs and towns in the Northern Territory, Western Australia and Queensland dominated the list.
South Australia had just one entry, Whyalla which had average yearly growth in its median of 10.9 per cent.
No suburbs or towns in New South Wales or Victoria made the top twenty.
Terry Ryder’s top 20 for long-term capital growth
1 Humpty Doo, NT - 20.7%
2 Newman, WA - 18.1%
3 South Hedland, WA - 15.5%
4 Tennant Creek, NT - 15.2%
5 Wundowie, WA - 14.8%
6 Bakers Hill, WA - 14.5%
7 Dundee Beach, NT - 11.9%
8 Soldiers Hill, QLD - 11.8%
9 Parkside, QLD - 11.7%
10 Port Hedland, WA - 11.6%
11 Marian, QLD - 11.2%
12 Wagin, WA - 11%
13 Pioneer, QLD - 11%
14 Boddington, WA - 11%
15 Whyalla Norrie, 10.9%
16 Sunset Hill, QLD 10.8%
17 Chinchilla, QLD - 10.6%
18 Derby, WA - 10.3%
19 Utakarra, WA - 10.2%
20 Katanning, WA - 10.2%
Source: news.com.au
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