Property analytics firm CoreLogic has released new data which reveals Adelaide’s top five performing regions over the past decade.
The CoreLogic Home Value Index, was used to analyse data from Statistical Areas Level 3 (SA3) regions that have an estimated residential population of more than 20,000 people as of June 2016.
The top-performing suburb in Adelaide was Prospect-Walkerville, which has seen a 40.1% increase in dwelling values since October 2007. Median house prices in Prospect-Walkerville are now $697,216 according to CoreLogic.
Prospect-Walkerville is followed by Campelltown (+37.9%, median price $538,752), Unley (+35.8%, median price $815,894), Port Adelaide-East (+35.1%, median price $435,765) and Norwood-Payneham-St Peters (+31.7%, median price $646,148).
The region with the greatest increase in dwelling values nationally is Wyndham in Melbourne. Dwelling values in Wyndham have increased a 129.9% in the past decade to $540,644.
The top 10 regions nationally are all located in Sydney or Melbourne.
“Overall the data highlights the strength of value growth in Sydney and Melbourne over recent years,” CoreLogic wrote.
“Furthermore, it details just how moderate growth has generally been outside of these two cities. Keep in mind that between them, Sydney and Melbourne account for an estimated 40.3% of the national population and 58.3% of the total value of dwellings nationally. Given this, it really highlights the extent to which the performance of the Sydney and Melbourne housing markets will drive the national headline growth figures.”