Aerial view of Ipswich looking west from East Ipswich with the CBD in the background. Picture: Rob Williams
A property boom has minted millions in homeowner wealth, with house prices doubling in more than 1800 of the nation’s suburbs over the past decade – but one state holds the lion’s share.
New analysis of PropTrack data reveals home prices doubled in 1806 suburbs between 2016 and 2026.
While days of extraordinary price rises might be behind us, the figures expose the staggering scale of growth particularly in Queensland where once-affordable towns have transformed into million-dollar markets and delivered windfall gains to long-term owners sitting on equity.
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The data reveals house prices doubled in 713 Queensland suburbs, along with almost 400 across New South Wales, about 320 in South Australia.
But there were just 130 suburbs in Victoria, fewer than the 135 in Western Australia.
House prices doubled 104 towns and suburbs across Tasmania and a handful of spots in Northern Territory and ACT.
The analysis counts suburbs where more than 30 homes had sold in the past year.
BRISBANE
See the Queensland suburbs with the best 10-year growth
This property at 37 Golden Valley Rd, Tallebudgera Valley, recently sold for $3.85m.
Brisbane house prices overall increased a whopping 152 per cent over the decade, making it the strongest-performing capital city market in the country, while unit prices climbed 126 per cent in that time.
Tallebudgera Valley topped the Sunshine State for long-term growth, recording house price gains of 271 per cent over the past decade to sit at a median of $2.8m – a quadrupling of value.
REA Group senior economic analyst Megan Lieu said while property values had historically doubled roughly every decade, the latest figures showed outcomes varied dramatically depending on location.
“Median home prices are constantly evolving, and the best-buy suburbs a decade ago were not delivering high returns at the time,” Ms Lieu said.
“Where buyer demand shifts is impacted by a number of factors, making it difficult to predict. However, history shows that new pockets can emerge over time with the potential to deliver strong, long-term price growth.”
Ms Liu the doubling in home prices achieved in some of the suburbs was less likely to be repeated in the coming decade as the past growth had been achieved at a time of record-low interest rates.
Nation’s biggest property winners
| Suburb | Median price 2026 | Annual average change over 10 years | Median price 2016 |
| North Rothbury, NSW | $854,500 | 17.4% | $171,500 |
| Moncrieff, ACT | $1,090,000 | 15.8% | $250,500 |
| Aintree, VIC | $701,500 | 14.2% | $185,300 |
| Collinsville, NSW | $240,000 | 14% | $65,000 |
| Nelly Bay, QLD | $450,000 | 13.7% | $125,000 |
| Calderwood, NSW | $1,090,000 | 13.6% | $305,000 |
| Somerton Park, SA | $2,350,000 | 13.4% | $667,500 |
| Churchill, QLD | $792,000 | 13.4% | $226,000 |
| Mount Morgan, QLD | $350,000 | 13.3% | $100,000 |
| Queenstown, TAS | $220,000 | 13.3% | $63,000 |
| Jindabyne, NSW | $785,500 | 13.3% | $225,000 |
Source: PropTrack
MELBOURNE
See the Melbourne suburbs with the best 10-year growth
REA Group senior economic analyst Megan Lieu.
Battler burbs also topped the list in Melbourne where the city’s real housing money makers are places that have traded in their reputation for burglaries and “the odd bashing” for six-figure price surges.
Across Melbourne, 77 of the 100 suburbs you would have been best off having bought a home in 10 years ago still have a median house price below $1m.
And 22 of the remainder typically had homes selling for under the seven-figure mark in the same timeline.
Balnarring on the Mornington Peninsula had the best run, gaining an average 9.2 per cent a year for the past decade to add almost $930,000 to its old house value of $652,500.
Pearcedale in the city’s south east also surged into the million-dollar club with an almost $700,000 growth spurt.
And one-time battler ‘burb Frankston North’s $310,000 median house price of a decade ago is now topping $711,000, a $401,500 gain.
Norma Lavell has watched it all unfold in Frankston North in a home she paid $31,000 for 42 years ago. Now the median price is north of $711,000.
Ms Liu said the dominance of battler burbs was a reflection of wider affordability pressures.
“If you go back 20 years, affordability was way better,” Ms Liu said.
“But a lot of people have been pushed out of high-segment market sand people are going for the areas they can afford with a decent amount of land.”
O’Brien Real Estate agent Mark Burke said Frankston North’s growth was in large part because it had been undervalued for a long time.
While decades ago Mr Burke said it had a deserved reputation for house burglaries and “the odd bashing”, things had changed dramatically.
“I walk around there day and night, and it’s fine,” he said.
“I do a lot of open homes there, too, and I don’t have any problems with people breaking in or anything like that.”
SYDNEY
See the Sydney suburbs with the best and worst 10-year growth
1905/3 Olympic Boulevard Sydney Olympic Park NSW 2127, sold in 2016 off the plan for $784,980, built in 2019, resold in 2026 for $635,000.
Sydneysiders who chased the Aussie dream in outer suburbs have been rewarded with some of the best home value gains this decade, while those who bought high-rise units often copped property losses.
Diaswati Mardiasmo, the chief economist at property group PRD, said the differences in the price gains on houses and units was mostly down to “supply”.
“Buyers have thousands of options for high density units,” she said. “For houses in most areas, there is very little choice.”
Suburbs where median unit prices were 5 to 27 per cent lower than they were in 2016 included Sydney Olympic Park, Parramatta, Hillsdale, Zetland, Rosebery, Mortlake, Lewisham and Auburn.
The same paradox was evident in Melbourne, where suburbs dominated by units finished the decade with a lower median unit price, lead by Carlton, Docklands and Melbourne’s CBD.
House prices in Penrith suburb Jordan Springs nearly doubled over the 10 years. There was similar growth in beaches suburbs North Manly and Fairlight.
Rises in far western suburbs Claremont Meadows and St Marys were about 75 per cent, well above the Greater Sydney average of 58 per cent.
Nation’s biggest property losers
| Suburb | Median price 2026 | Annual average change over 10 years | Median price 2016 |
| Gables, NSW | $1,480,000 | -17.5% | $10,130,000 |
| Austral, NSW | $1,160,000 | -7.2% | $2,450,000 |
| Catherine Field, NSW | $1,227,500 | -5.5% | $2,150,000 |
| Oakville, NSW | $1,315,000 | -4.4% | $2,060,000 |
| Forrestdale, WA | $900,000 | -4% | $1,350,000 |
| Townview, QLD | $235,000 | -3.8% | $347,500 |
| Rhodes, NSW | $1,464,000 | -3.7% | $2,140,000 |
| Fannie Bay, NT | $485,000 | -2.9% | $653,000 |
| Sydney Olympic Park, NSW | $708,444 | -2.7% | $932,000 |
| Coolalinga, NT | $362,500 | -2.6% | $470,000 |
| Carlton, VIC | $312,500 | -2.6% | $406,000 |
Source: PropTrack
$767.000 price growth since 2016: 11 Moola Street Jordan Springs sold in 2016 for $420,000 and resold in 2026 for $1,187,000. NSW real estate.
HOBART
See the Tasmanian suburbs with the best 10-year growth
Rokeby houses. Picture: Supplied
A surprising Eastern Shore suburb was the best place to buy in Hobart 10 years ago.
Not Battery Point, Sandy Bay or West Hobart.
Among the capital city markets, houses in just six suburbs nationwide performed better than Rokeby.
With 116 sales in the past 12 months, Rokeby’s median price has reached $650,000. A decade ago it was $191,000.
Petrusma Property agent Tony Dion said new homes being built in the area contributed to Rokeby’s growth, combined with an increased number of established homes being renovated and improved.
“We are seeing new housing development in Rokeby, it has become a close alternative for buyers priced out of neighbouring suburbs like Howrah, Oakdowns and Lauderdale,” he said.
Ms Lieu said positive figures reflect resilient demand, indicating sustained buyer confidence over the period but can also point to constrained supply.
“While housing affordability in Hobart has improved slightly over the past two years, it remains challenging, relative to historical periods,” she said.
ADELAIDE
See the Adelaide suburbs with the best 10-year growth
Esplanade in Somerton Park. Picture Dean Martin
Somerton Park houses have had the largest growth year on year in Adelaide, with an average annual change in median price of 13.4 per cent.
This has taken the coastal suburb’s median to $2.35m.
Not too far behind was Elizabeth Downs, where house values have increased by 13.3 per cent a year over the past 10 years toa median of $610,000.
Also at $610,000 was the third-placed Davoren Park, where house values are up by 13.1 per cent a year over the past 10 years.
The northern suburbs continued to dominate the rest of the top 10, with Elizabeth North, Elizabeth Grove, Elizabeth South, Smithfield Plains, Elizabeth Park, Elizabeth East and Elizabeth Vale completing the list – all with house value increasesof 12 per cent or more per year.
Harcourts Packham Property’s James Packham said Adelaide’s market was strong.
“South Australia’s property market continues to show strong resilience, with Adelaide values sitting at record highs and demandremaining steady across both established suburbs and more affordable price points,” he said.
“Adelaide dwelling values continue to record solid annual growth, supported by limited supply, strong buyer competition andongoing rental pressure.”
Property Investment Professionals of Australia president Cate Bakos said in addition to affordability, home values in some suburbs would have also risen as a result of changes in housing in the suburb.
Ms Bakos noted that when new estates had been set up in some areas that had previously been dominated by much older stock or even government housing, the increased building costs would have dragged up prices.
Real Estate Buyers Agents Association of Australia (REBAA) vice president Zoran Solano said the next decade would be very different to the past 10 years — particularly if the proposed taxation changes stay in place long-term.
“Owner-occupiers will again become the dominant force influencing price growth and sales volumes,” Mr Solano said.
“The downsizer trend needs to be acknowledged too. The transition of 60 to 80-year-old participants to smaller, more liveable homes is going to affect the landscape.
“As younger Australians are encouraged to buy a home rather than invest, we’ll see home buyers upsizing into those houses the older demographic vacate.”