by Sanjeev Sah | July 18, 2023 | Market Updates

Australia might have just emerged from a downturn that saw home values fall 9.1% from peak to trough, according to CoreLogic. But the situation couldn’t be more different in some property markets.  

That’s after PropTrack data found Australian suburbs where property prices have more than doubled over the past two years, despite the challenging conditions. 

As the image below shows, Boat Harbour in NSW was the star performer, after the median house price there rose from $846,250 in January 2022 to $1,707,500 in May 2023. 

The moral of the story?  

Australia’s a big country with dozens and dozens of property markets, all moving at different speeds.  

So always do your research before buying property so you invest in a quality location with strong long-term growth potential.