Australia's top performing suburbs across each capital city for 2020 • 60+Club

Australia’s top performing suburbs for 2020 for house & units

In a year that no one could have predicted, from a deadly global pandemic to our largest economic downturn since the 1930’s, CoreLogic’s Best of the Best 2020 Report released today reveals Australia’s $7.2 trillion residential real estate market proved remarkably resilient.

While the initial shock of COVID-19 led to a -2.1% decline in national property values between April and September, Australian housing values were 1.1% higher over the year to November following a recovery trend in the last two months.

Eliza Owen, CoreLogic’s Head of Research Australia, says “Housing values have been supported by a strong mix of regulatory, monetary and fiscal measures, which have induced record-low mortgage rates, the deferment of mortgage repayment for households impacted by COVID-19, support for low income households, as well as grants and concessions for owner-occupier purchases.”

Demand for lifestyle areas is also a trend that may have been exacerbated, but was not necessarily triggered, by COVID-19. The narrative of Australians fleeing capital cities in search of a sea-change or tree change “because of COVID” has dominated reporting on the housing market through 2020.

The relative popularity of lifestyle markets is evident in our report, and regional Australia out-performed the combined capital cities market. With the exception of the highest median value suburbs, our Best of the Best report is dominated by high performing regional areas across the country.

Alternatively, rental market performance has been highly disparate. Ms Owen says “COVID-19 has had a severe impact on select rental markets in Australia, with Greater Melbourne unit rents falling -7.0% in the year to November 2020. Inner city rental markets of Sydney, Melbourne and to a lesser extent, Brisbane have been particularly impacted by the closure of international borders, where historically high demand from overseas migrants has been disrupted. Notably the vast majority of overseas arrivals to Australia are initially renters.

“However, there is a completely different dynamic in rental markets across Perth, Darwin, and other mining-related markets that has emerged. Following the long withdrawal of investor demand and several years of low new supply additions, rental markets are tightening,” says Ms Owens.

The annual Best of the Best report is a suburb level analysis of a variety of measures used by CoreLogic to determine property market performance across the year, ranging from property value growth and sales to rental yields. So, where were Australia’s top performers in residential real estate over 2020?

This article provides a snapshot of some of the top 10 suburbs from CoreLogic’s 45-page Best of the Best report in 2020.

Australia’s top performers in the housing market, 2020

Highest Total Value of Sales across the nation, 2020

The Best of the Best 2020 highlights the top performing houses and units across Australia based on the following criteria:

Highest Sale
Highest Total Value of Sales
Highest Median Value
Lowest Median Value
Greatest 12m Change in Values
Greatest 12m Change in Rents
Highest Rental Yields

All data highlighted is current as at the 30 November 2020, with the exception of Total Value of Sales data which reflect sales that occurred over the 12 months to 30 September 2020. Learn more.

Quick snapshot of top suburb performers per State

NSW Best Performers for 2020

Highest Median Value
– HOUSES: Darling Point, Eastern Suburbs, NSW: $7,063,773
– UNITS: Point Piper, Eastern Suburbs, NSW: $2,281,435

Lowest Median Value
– HOUSES: Ungarie, Central West, NSW: $65,847
– UNITS: Moree, New England and North West, NSW: $132,695

Greatest 12-month Change in Value
– HOUSES: Bombala, Capital Region, NSW: 22.6%
– UNITS: Griffith, Riverina, NSW: 18.6%

Greatest 12-month Change in Rents
– HOUSES: Manyana, Southern Highlands and Shoalhaven, NSW: 22.8%
– UNITS: Mittagong, Southern Highlands and Shoalhaven, NSW: 20.6%

Highest Rental Yields
– HOUSES: Bourke, Far West and Orana, NSW: 13.4%
– UNITS: Muswellbrook, Hunter Valley excl Newcastle, NSW: 8.0%

See more of New South Wales’ best performing areas

Highest Total Value of Sales, NSW

VIC Best Performers for 2020

Highest Median Value
– HOUSES: Toorak, Inner, VIC: $4,008,852
– UNITS: Brighton, Inner South, VIC: $1,114,661

Lowest Median Value
– HOUSES: Rainbow, North West, VIC: $81,186
– UNITS: Numurkah, Shepparton, VIC: $164,334

Greatest 12-month Change in Value
– HOUSES: Murtoa, North West, VIC: 22.4%
– UNITS: Horsham, North West, VIC: 25.7%

Greatest 12-month Change in Rents
– HOUSES: Mortlake, Warrnambool and South West, VIC: 15.7%
– UNITS: Moe, Latrobe – Gippsland, VIC: 15.9%

Highest Rental Yields
– HOUSES: Mortlake, Warrnambool and South West, VIC: 9.2%
– UNITS: Portland, Warrnambool and South West, VIC: 7.1%

See more of Victoria’s best performing areas

Highest Total Value of Sales, VIC

QLD Best Performers for 2020

Highest Median Value
– HOUSES: Teneriffe, Brisbane Inner City, QLD: $1,859,323
– UNITS: Noosa Heads, Sunshine Coast, QLD: $892,838

Lowest Median Value
– HOUSES: Blackall, Queensland Outback, QLD: $87,790
– UNITS: Laguna Quays, Mackay – Isaac – Whitsunday, QLD: $76,123

Greatest 12-month Change in Value
– HOUSES: Sunshine Beach, Sunshine Coast, QLD: 27.6%
– UNITS: Currumbin, Gold Coast, QLD: 24.9%

Greatest 12-month Change in Rents
– HOUSES: West Gladstone, Central Queensland, QLD: 17.4%
– UNITS: South Gladstone, Central Queensland, QLD: 15.3%

Highest Rental Yields
– HOUSES: Collinsville, Mackay – Isaac – Whitsunday, QLD: 14.6%
– UNITS: Woree, Cairns, QLD: 11.4%

See more of Queensland’s best performing areas

Highest Total Value of Sales, QLD

SA Best Performers for 2020

Highest Median Value
– HOUSES: Unley Park, Adelaide – Central and Hills, SA: $1,397,758
– UNITS: Eastwood, Adelaide – Central and Hills, SA: $514,252

Lowest Median Value
– HOUSES: Peterborough, Barossa – Yorke – Mid North, SA: $79,740
– UNITS: Mount Gambier, South Australia – South East, SA: $166,544

Greatest 12-month Change in Value
– HOUSES: Port Macdonnell, South Australia – South East, SA: 23.4%
– UNITS: Findon, Adelaide – West, SA: 22.2%

Greatest 12-month Change in Rents
– HOUSES: Port Elliott, South Australia – South East, SA: 23.7%
– UNITS: Grange, Adelaide – West, SA: 8.4%

Highest Rental Yields
– HOUSES: Kingston Se, South Australia – South East, SA: 11.5%
– UNITS: Salisbury, Adelaide – North, SA: 7.1%

See more of South Australia’s best performing areas

Highest Total Value of Sales, SA

WA Best Performers for 2020

Highest Median Value
– HOUSES: Peppermint Grove, Perth – Inner, WA: $2,417,712
– UNITS: Cottesloe, Perth – Inner, WA: $795,166

Lowest Median Value
– HOUSES: Norseman, Western Australia – Outback (South), WA: $58,582
– UNITS: Kalgoorlie, Western Australia – Outback (South), WA: $124,429

Greatest 12-month Change in Value
– HOUSES: Wannanup, Mandurah, WA: 17.2%
– UNITS: Cable Beach, Western Australia – Outback (North), WA: 22.3%

Greatest 12-month Change in Rents
– HOUSES: Bulgarra, Western Australia – Outback (North), WA: 19.4%
– UNITS: South Hedland, Western Australia – Outback (North), WA: 13.0%

Highest Rental Yields
– HOUSES: Newman, Western Australia – Outback (North), WA: 14.0%
– UNITS: South Hedland, Western Australia – Outback (North), WA: 14.1%

See more of Western Australia’s best performing areas

Highest Total Value of Sales, WA

TAS Best Performers for 2020

Highest Median Value
– HOUSES: Battery Point, Hobart, TAS: $1,183,751
– UNITS: Hobart, Hobart, TAS: $699,320

Lowest Median Value
– HOUSES: Queenstown, West and North West, TAS: $106,829
– UNITS: Upper Burnie, West and North West, TAS: $223,301

Greatest 12-month Change in Value
– HOUSES: Rosebery, West and North West, TAS: 27.3%
– UNITS: Wynayrd, West and North West, TAS: 20.7%

Greatest 12-month Change in Rents
– HOUSES: Zeehan, West and North West, TAS: 18.4%
– UNITS: Prospect Vale, Launceston and North East, TAS: 14.8%

Highest Rental Yields
– HOUSES: Zeehan, West and North West, TAS: 12.0%
– UNITS: Brighton, Hobart, TAS: 6.3%

See more of Tasmania’s best performing areas

Highest Total Value of Sales, TAS

NT Best Performers for 2020

Highest Median Value
– HOUSES: Lyons, Darwin, NT: $720,580
– UNITS: Bayview, Darwin, NT: $396,333

Lowest Median Value
– HOUSES: Tennant Creek, Northern Territory – Outback, NT: $188,732
– UNITS: Karama, Darwin, NT: $200,430

Greatest 12-month Change in Value
– HOUSES: Alawa, Darwin, NT: 24.0%
– UNITS: Nightcliff, Darwin, NT: 6.5%

Greatest 12-month Change in Rents
– HOUSES: Malak, Darwin, NT: 9.8%
– UNITS: Fannie Bay, Darwin, NT: 10.7%

Highest Rental Yields
– HOUSES: Katherine, Northern Territory – Outback, NT: 8.2%
– UNITS: Parap, Hobart, NT: 7.7%

See more of Northern Territory’s best performing areas

Highest Total Value of Sales, NT

ACT Best Performers for 2020

Highest Median Value
– HOUSES: Forrest, Australian Capital Territory, ACT: $3,125,457
– UNITS: Yarralumla, Australian Capital Territory, ACT: $1,043,409

Lowest Median Value
– HOUSES: Belconnen, Australian Capital Territory, ACT: $488,054
– UNITS: Lyons, Australian Capital Territory, ACT: $301,271

Greatest 12-month Change in Value
– HOUSES: Flynn, Australian Capital Territory, ACT: 15.5%
– UNITS: Ngunnawal, Australian Capital Territory, ACT: 12.1%

Greatest 12-month Change in Rents
– HOUSES: Holt, Australian Capital Territory, ACT: 7.7%
– UNITS: Lyons, Australian Capital Territory, ACT: 5.6%

Highest Rental Yields
– HOUSES: Holt, Australian Capital Territory, ACT: 5.3%
– UNITS: Lyons, Australian Capital Territory, ACT: 6.9%

See more of Australia’s Capital Territory best performing areas

Highest Total Value of Sales, ACT

To compare this year’s top 10 suburb performers to previous year’s – read our blogs with links to the full CoreLogic report:

CoreLogic’s Best of the Best report for 2020 gives you all the property data you need to track the results of this historic year. The report highlights Australia’s best and worst performing suburbs based on sales, rents and property values, as well as providing a 2020 market review. Download report here.

Source:
– Best of the Best 2020, Corelogic. 16 December 2020. Read report

– CoreLogic’s Best of the Best Report shows 2020’s biggest property market winners, CoreLogic. Published 16 December 2020. Read article

Data Dictionary & Disclaimers

All data highlighted is current as at the 30 November 2020, with the exception of Total Value of Sales data which reflect sales that occurred over the 12 months to 30 September 2020.

Top sales are based on properties that have transacted over the 2020 year to date – please note there may be sales we are not yet aware of due to the lag in reporting times, long settlements and non-disclosures.

Exclusions
– Regions with less than 10 Sales;
– 100 AVM observations;
– 20 Rental observations.

Data Dictionary

Median Sales AVM value – A measure of the median (50th percentile) estimated sales value of all properties based on the hedonic imputation method, irrespective of whether it transacted or not.

AVM observations – The total number of Automated Valuations that have been run.

12 month sales volumes – A count of all transactions over the 12 months.

Total Value of Sales – the total value of all property transactions recorded over the 12 months to September 2020.

12 month change in value – the percentage difference between the hedonic home value index as at 30 November 2020 compared to 12 months ago.

12 month change in rents – the percentage difference between the hedonic rental value index as at 30 November 2020 compared to 12 months ago.

Gross Rental Yields – A measure of the implied yield of properties based on the underlying sales values and ‘for rent’ listings values of properties using the hedonic imputation methodology.

Hedonic Home Value Index – CoreLogic’s headline measure for property market performance. It measures the organic change in underlying sale values of properties using the hedonic imputation methodology. The full detailed methodology description available at:
https://www.corelogic.com.au/research/rp-datacorelogic-home-value-index-methodology.

Hedonic Rental Value Index – A measure of the organic change in underlying ‘for rent’ listing values of properties using the hedonic imputation methodology. The full detailed methodology description available at: https://www.corelogic.com.au/research/rp-data-corelogichome-value-index-methodology.