AusFinance Gazette

Here’s a quick and easy way to find out how much property prices have changed in your suburb this year

It’s hard to know up from down when it comes to the property market right now.

But if you’re wondering how your neighbourhood is faring, Realesate.com.au’s newly released interactive map gives you the answer in about 5 seconds flat.

Whether you’re looking to buy or sell in a particular suburb, or simply curious about the culmination of all those for sale signs you’ve walked past this year, it’s a handy tool to have at your disposal. Using Data from PropTrack’s automated valuation model (AVM), the tool shows upwards of 10% growth between January and September this year in almost 500 suburbs across the country.

Despite gloomy predictions  last year that prices would keep falling throughout 2023, Australia’s median home value has instead increased every month this year to reach a record high in September. Buyers and sellers have unexpectedly returned to the market, fuelling the surprise turnaround. While prices are up about 4.3% nationally this year, that percentage has quadrupled in some areas thanks to strong demand amid limited property supply.

In NSW, median house values increased the most in Kariong on the Central Coast, followed by Pagewood and Beaconsfield, both in Sydney’s inner south. Prices rose by 23.1% in Kariong from $762,205 at the beginning of the year to $938,101 in September, while Pagewood saw a 19.6% increase to a median of $2,671,575, and Beaconsfield 19% to $1,794,632.

According to the interactive map, Moore Creek, a developing community hub 15km North of Tamworth City, saw a year-to-date change of 18.4% in median house values—entering the million-dollar club with a September median value of $1,025,946.

Many suburbs on Sydney’s Northern Beaches saw high growth, with Cromer up 17.4% to $2,361,886 and Beacon Hill 17.3% to $2,278,897. Nearby, the small suburb of Wheeler Heights saw 16.3% value growth, from $2,046,157 in Jan to $2,379,266 in September.

In Sydney’s Eastern suburbs, the interactive map shows South Coogee and Dover Heights saw significant growth. In beachside South Coogee, median house value grew to $4,014,409, a year-to-date percentage change of +17%. Dover Heights, one of Sydney’s most expensive suburbs, now shows a whopping median value of $7,120,991—a 16.7% increase from January. Meanwhile, Kensington, an affluent suburb with proximity to both beach and city, has enjoyed upwards of 16% growth, up from $3.13M at the beginning of the year to $3.64M in September.

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Traverse your cursor over Sydney’s North Shore and you’ll find Neutral Bay has seen significant growth, with a YTD change of +13%. Here, local agents are seeing around two-thirds of market stock selling before auction date. Nearby in the exclusive suburb of Mosman, house value has risen upwards of 7%, from $4,944,649 to $5,283,610.

Settled in the Shire? Kareela takes out the top spot in the region for highest YTD house price increase at 11%, from around $1.45M in Jan to $1.61M in Sept. Neighbouring suburbs Oyster Bay and Sylvania have both seen increases of +10%, with September medians at 1.66M and $1.76M respectively.

Haven’t seen your suburb mentioned? Simply enter it into the map here.

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