According to data released by real estate data analysis company CoreLogic, the growth rate of housing prices in suburban areas such as Illawarra in NSW, the Southern Highlands and Geelong in Victoria is the same as Sydney.
House prices in Illawarra have grown by 62.4% in the past 10 years, with an annualized growth rate of 5%. House prices in Newcastle-Lake Macquarie, Southern Highlands and Shoalhaven have increased by 4.5%. In contrast, the average growth rate of Sydney’s secondary markets was 5.1%, and the average growth rate of house prices in other parts of NSW was only 2.1%.
The 10-year annual growth rate of Geelong in Victoria is 4.1%, which is higher than Melbourne (3.7%) and other parts of Victoria (2.7%). The annual growth rate of Queensland’s Gold Coast and Sunshine Coast is also higher than that of Brisbane, at 2.4% and 1.5% respectively.
