The suburbs where house prices have doubled in last ten years – so are you sitting on a goldmine?

REVEALED: The suburbs where house prices have DOUBLED in the last ten years – so are you sitting on a goldmine?

Research firm Corelogic figures have revealed where house values have doubled
The area where values increased most is Sydney’s south west at 112.9 per cent
The area that experienced the least growth was outback north Western Australia

By Brett Lackey For Daily Mail Australia

Published: 04:48 BST, 22 July 2018 | Updated: 04:48 BST, 22 July 2018

House prices in Sydney’s south west have more than doubled in the past ten years, soaring well above the national average of just under 47 per cent.

Property research firm Corelogic has revealed data showing that house process in the region increased in value by 112.9 per cent, becoming the fastest growing region for house process in the country.

The area was closely followed by Parramatta at 107.4 per cent in second place.

House prices in Sydney's south west have more than doubled in the past ten years, soaring well above the national average of just under 47 per cent

House prices in Sydney’s south west have more than doubled in the past ten years, soaring well above the national average of just under 47 per cent

In Victoria, the fastest growing regions were Melbourne’s south east at 102.7 per cent and Melbourne’s west at 102.3 per cent.

Research analyst at Corelogic, Cameron Kusher said that over the last ten years Victoria and New South Wales have had substantially stronger growth than in other parts of the country.

‘In fact, the regions of NSW and Victoria that recorded the weakest conditions over the decade have seen value growth well in excess of the best performing WA region,’ he told nine.com.au.

The regions that experienced the least growth were those affected by the downturn in mining including northern outback Western Australia and some areas of regional Queensland.

Adelaide was named the most affordable capital city.

In terms of future house prices it seems unlikely that the same figures will be replicated.

‘While the last 10 years is not predictive of the future, dwelling values are already falling in Sydney and Melbourne and regional markets are currently outperforming capital cities,’ Kusher said.

HOUSE VALUES IN PER CENT OVER THE LAST TEN YEARS BY REGION

AREAS WITH THE MOST GROWTH

1. South West Sydney 112.9

2. Parramatta 107.4

3. Inner South West Sydney 106.6

4. Outer South West Sydney 103.3

5. South East Melbourne 102.7

AREAS WITH THE LEAST GROWTH

1. Northern Outback WA – 38.3

2. Southern Outback WA – 34.0

3. Mackay – 27.3

4. Central Queensland – 26.8

5. Townsville – 23.6

Research analyst at Corelogic, Cameron Kusher said that over the last ten years Victoria and New South Wales have had substantially stronger growth than in other parts of the country

Research analyst at Corelogic, Cameron Kusher said that over the last ten years Victoria and New South Wales have had substantially stronger growth than in other parts of the country