Introduction
This month’s newsletter takes a quick look at how regional markets have performed recently compared to the big smoke in each state.
National Growth Rate
Looking at nearly 13,000 suburbs across all of Australia with house sales data in both January 2021 and 2022
National Median House Growth Rate was 26.7%
Breaking it down by state, we can see that there was some growth everywhere and pretty exceptional growth in most states.
NSW
VIC
Victoria had a rough trot over the last year compared to the nation overall. Only 26% of the suburbs in Victoria’s 4 largest urban areas outperformed the national growth rate.
Notice again, that the regional markets of Victoria did much better than Melbourne – literally twice as good. But given Melbourne contains a large portion of Victorian suburb, it weighed down the state’s overall performance compared to the rest of the nation.
QLD
Note in the following chart that Queensland has less concentration of suburbs in its state capital compared to most other states.
It would have been easy to pick an outperformer in the Sunshine Coast with 3 out of 4 suburbs there beating the national growth rate. You’d be an unlucky investor to not be up by 30% from a year ago.
SA
South Australia’s population is predominately in Adelaide.
This is one state in which regional markets did NOT outperform the state capital. It’s hard to see from the pie charts of South Australia’s next 3 largest urban areas after Adelaide since they’re so small. But they are heavily dominated by red.
WA
Although there are some signs of life in Perth, most of the city’s suburbs were fairly subdued compared to the rest of the nation.
The regions had better growth than the state capital. Geraldton was the standout, most suburbs there outperformed the national growth rate.
TAS
Tasmania has a far less concentrated population than the mainland states.
The performance was pretty consistent across Tasmania, both the state capital and the regions had excellent growth over the last 12 months.
ACT
The ACT doesn’t have any major urban sub-regions we can look at. But the state itself performed favourably compared to the rest of the nation.
NT
Similar to the ACT, there’s not much in the NT outside of Darwin. And it didn’t perform any better.
CONCLUSION
