What does an established Sydney harbourside suburb, a trendy Melbourne area, two Canberra suburbs and a small area near Darwin Hospital have in common? According to Australian Property Monitors, they are Australia’s hottest suburbs in terms of price growth.
1. Lyons, NT – Median house price of $725,00 +137% growth over last 12 months.
Lyons is a small area within the northern suburbs of Darwin which was proclaimed a suburb in 2004 when a large land release was announced. Lyons has been strategically master-planned by Defence Housing Australia and CIC Australia to provide a range of housing options.
Home sites with wide frontages range between 600sqm to over 1,000sqm in size while duplex and town-home blocks provide low-maintenance alternatives to traditional Darwin homes. In excess of 200 lots have been sold and only seven lots remain.
2. St. Kilda West, VIC – median house price of $1,700,000 +114% growth over last 12 months.
Not far from the beaming gaze of the Luna Park face and the myriad of patisseries on Acland St, St. Kilda West has turned into a hot property ticket. The area is renowned for its bars, theatres, galleries and music venues such as the Esplanade Hotel (the Espy).
While it experienced a gentrification in the 1990s and an increasing popularity with affluent Melbournites (hence the hefty median house price), St Kilda still has a broad depth of people from all parts of society.
St Kilda West is a small pocket in St Kilda and represents the area north west of St Kilda bordered by West Beach Road, Fraser Street and Canterbury Road. It is a small community which is a mix of medium density terrace housing and flats (mostly 1920s stock) to modern hi-rise apartments.
3. Bonner, ACT – median house price of $425,000 +113% growth over last 12 months
Bonner is a new suburb with Gungahlin, Canberra’s fastest growing residential area. The area was subdivided and a number of public ballots to buy blocks of land were held from 2008 – 2010. All blocks were sold and many houses have been completed with more to come.
The development of the suburb has been managed by the ACT Government, with a focus on sustainability. The suburb takes its name from Neville Bonner, the first Indigenous Australian to be elected to the Federal Parliament.
The Indigenous heritage of the area has also influenced the character of the estate, the streets of which have been named to honour Indigenous leaders and communities.
4. Forde, ACT – median house price of $591,000, +91 % growth over last 12 months
Neighbouring Bonner, Forde is a $500 million master planned community located in North Canberra, and an easy drive from Canberra’s CBD. The community’s meticulous planning preserves the area’s precious heritage while providing a range of homes.
With over 1,000 residents, Forde is setting the new standard in environmentally sustainable design and convenient, comfortable living in Canberra. Forde homes are designed for the future and Forde was the first suburb in the ACT to mandate a 5 Star ACT Housing Initiatives Scheme (ACTHERS) rating in every home.
From July 2010 all future homes in Forde were mandated to achieve a 6 star ACTHERS rating. It is also one of the first communities in Australia to enjoy to enjoy the benefits of TransACT fibre to the home technology, currently the fastest consumer broadband available in Australia.
5. Balmain East, median house price of $1,925,000 +71% growth over last 12 months
The shores of Sydney Harbour lap at the homes and apartments which hug the eastern part of the Balmain peninsula. It has its own ferry stop, and has breathtaking views of Sydney Harbour and the Harbour Bridge to its east.
Once a working class area which boasted shipbuilding, a metal foundry, engineering, boiler making, railway equipment manufacture and it’s own coal mine (which operated from 1897 to 1931), the Balmain peninsula has long become gentrified. In fact, former Prime Minister Paul Keating commented on the suburb’s changing face by using the term “Basket weavers of Balmain.”