Data revealing the suburbs with the biggest growth in average estimated value for both houses and units across capital city regions, shows scenic suburbs further away from CBDs have experienced the biggest jumps in the first half of 2021.
Suburbs had to have at least 30 high-confidence valuations in December 2020 and June 2021 to be included in the data. A high-confidence valuation is backed up by more data than a standard valuation, including historic sales of the property itself, sales of similar properties in the area and price trends in the suburb.
“Inner-city areas are not as attractive as they once were because of the increase in people working from home,” Ms Flaherty said.
“There is a huge volume of demand in regional and scenic areas, and there are not as many properties coming up for sale as there are buyers to buy them.
“In a sense, people are realising they’re going to have to put in a really competitive offer if they want to stand a chance of competing. So, buyers are upping their offers just to be competitive and that’s pushing up values.”
