Australia

What your home is worth now. Here are the boom areas around Australia

PHOTO: Sydney, Australia

  • Sydney’s median house price surged by 11.4 per cent between January and April
  • South Turramurra on the North Shore had a 22.8 per cent surge in three months 
  • North Shore, Northern Beaches, Sutherland Shire had 15 per cent quarterly rise
  • Brisbane and Melbourne also had double-digit rises but not like Sydney’s surges

House prices in some Australian suburbs have surged by up to $300,000 in just three months, despite many of them being kilometres away from public transport and even further from the CBD.

Between January and April Sydney’s median price for a home with a backyard increased by 11.2 per cent.

But upmarket suburbs on the Upper North Shore, the Northern Beaches and the Sutherland Shire had price growth that was double that in the same period of time, CoreLogic data showed.

Brisbane and Melbourne also saw double-digit increases in upmarket areas, but didn’t have any suburbs within the top ten for quarterly price increases.

House prices in rich suburbs have surged by more than $300,000 in just three months and they weren't all near the beach. South Turramurra (pictured), a post-war suburb which is more than 3km from the train station, saw its mid-point house price soar by 22.8 per cent to $2.1million

House prices in rich suburbs have surged by more than $300,000 in just three months and they weren’t all near the beach. South Turramurra (pictured), a post-war suburb which is more than 3km from the train station, saw its mid-point house price soar by 22.8 per cent to $2.1million

On the edge of the Northern Beaches, Terrey Hills property prices surged by 20.8 per cent to $2.5million, in a suburb where entrepreneur Dick Smith keeps a helicopter.

On the edge of the Northern Beaches, Terrey Hills property prices surged by 20.8 per cent to $2.5million, in a suburb where entrepreneur Dick Smith keeps a helicopter.

On Sydney’s North Shore, Turramurra, South Turramurra and North Turramurra, despite being more than 20km and 30 minutes by train from the city, took out three spots on the top ten list for property price surges.

Where Sydney property prices have surged in just three months

South Turramurra, Upper North Shore: up 22.8 per cent to $2,101,118

Terrey Hills, Northern Beaches: up 20.8 per cent to $2,483,300

Kurnell, Sutherland Shire: up 19 per cent to $1,429,800

Clareville, Northern Beaches: up 18.9 per cent to $3,155,207

Cromer, Northern Beaches: up 18.1 per cent to $1,938,976

North Turramurra, Upper North Shore: up 16.8 per cent to $2,227,529

Turramurra, Upper North Shore: up 16.2 per cent to $2,240,409

Point Piper, Eastern Suburbs: up 15.9 per cent to $2,695,872

Yowie Bay, up 15.9 per cent to  $1,842,591

Grays Point, Sutherland Shire: up 15.4 per cent to $1,584,099

Source: CoreLogic data for April 2021 showing quarterly dwelling price rises

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South Turramurra, a post-war suburb which is more than 3km from the train station, saw its mid-point house price soar by 22.8 per cent to $2.1million.

The suburb with a high school only has three townhouse complexes, no apartments and is surrounded by bushland.

As recently as August 2020, a 1960-built house on Maxwell Street that had been in the same hands for almost 40 years barely sold at auction beyond its reserve price of $1.5million.

The Upper North Shore suburb near Lane Cove National Park was once home to Nine TV personality Richard Wilkins and former Labor premier Barrie Unsworth.

More than 8km away at North Turramurra, near Bobbin Head and Ku-ring-gai Chase National Park, property prices surged by 16.8 per cent in three months to $2.23million.

At nearby Turramurra, home to crooner Kamahl, home prices climbed by 16.8 per cent to $2.24million.

On the edge of the Northern Beaches, Terrey Hills property prices surged by 20.8 per cent to $2.5million, in a suburb where entrepreneur Dick Smith keeps a helicopter.

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