It seems a lot has happened in the last 20 years in Australian real estate. Median house prices have more than tripled and while all the focus of late has been on the southern markets, they weren’t the best performers.
According to figures released by realestate.com.au to celebrate its 20th birthday, the national media house price in 1995 was $129,800 - now it is $475,000.
With its sought-after lifestyle, stunning beaches and breathtaking outdoor activities, Western Australia was the best performer with its median up fivefold from $98,500 in 1995 to $495,000 in 2015.
Victoria’s median went up 4.1 times and South Australia’s median was now four times higher.
In the Northern Territory the median was now 3.6 times higher, in New South Wales it was 3.5 times higher and in Tasmania 3.3 times higher.
The most popular suburb in 1995 was Port Macquarie, 385km from the Sydney CBD! By 2015, the most popular sellers’ market, where most buyers were looking, was Freshwater, about 17km from the Sydney CBD.
MOST POPULAR SUBURBS 1995
NATIONAL – Port Macquarie (NSW)
ACT – Ngunnawal
NSW – Port Macquarie
NT – Bakewell
QLD – Surfers Paradise
SA – Mount Gambier
TAS – Devonport
VIC – South Yarra
WA – Thornlie
TOP SELLERS MARKETS 2015
NATIONAL – Freshwater (NSW)
ACT – Palmerston
NSW – Freshwater
NT – Wulagi
QLD – Holland Park
SA – Unley
TAS – Hobart
VIC – Albert Park
WA – Shenton Park