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Well Money’s latest Green Shoots Reports unveiled 20 suburbs which recorded the strongest indicators of rising markets over the three months to October.

The list includes 12 metro and eight regional locations, which were comprised of 14 house and six unit markets.

These suburbs witnessed a perfect recipe for a rising market: decreasing days-on-market, shrinking inventory levels, and rising asking prices.

Well Money CEO Scott Spencer said inventory levels is a leading indicator of a rising market given that they reflect the balance of power in a particular market.

“When inventory levels are falling, that means buying conditions are becoming harder, which forces buyers to compete harder and puts upward pressure on prices,” he said.

Another sign of growing competition is steady or even decreasing days-on-market.

“When supply falls and demand rises, vendors take notice. As a result, in all but two of the 20 suburbs, vendors raised their asking prices over the quarter," Mr Spencer said.

State

Suburb

Type

Median asking price ($)

Inventory Levels (months)

Days on market

WA

Burekup

House

511,110

3.6

59

VIC

St Albans

Unit

518,160

Under 1

51

SA

Moonta

House

320,000

5.7

51

SA

North Brighton

House

1,072,500

2.7

19

SA

Glenelg

House

1,101,998

3.8

27

NT

Johnston

House

612,500

2.8

66

NSW

Sunshine

House

930,000

2.8

31

VIC

Junction Village

House

720,700

4.9

22

WA

Wembley Downs

House

1,249,990

Under 1

50

NSW

Wyee

House

897,573

4.6

28

QLD

Booval

Unit

249,000

2.5

53

SA

Two Wells

House

486,000

2.0

28

VIC

Cairnlea

Unit

430,260

6.0

59

SA

Munno Para

House

384,500

2.6

35

WA

Noranda

Unit

325,000

3.8

66

WA

Binningup

House

415,000

1.2

53

WA

Alkimos

House

459,430

3.8

52

VIC

Waterways

House

1,540,800

1.0

29

NSW

Brighton-Le-Sands

Unit

750,000

Under 1

24

SA

Henley Beach

Unit

492,900

Under 1

23

Photo by corelens by Canva.