Outer Perth, Geelong, Victorian Regions Lead Australian House Price Growth

Housing markets across various Australian regions have experienced significant growth, driven by factors such as affordability, immigration, and pandemic-related migration. Perth's outer suburbs have seen house values soar by up to 300% over the past two decades, fueled by new developments and demand from professionals relocating to family-friendly areas with median prices under $1 million. Geelong's property market boomed during the COVID-19 pandemic due to Melbourne's lockdowns, with suburbs like Rippleside recording a 104% median price increase over five years, although the market is now stabilizing after a two-year downturn. Regional Victoria also experienced strong house price growth, with inland areas like Colac Otway and Corangamite posting double-digit increases driven by affordability, limited supply, and interest rate movements. Experts suggest that long-term value gains require a five to seven-year investment horizon, emphasizing the cyclical nature of property markets. Overall, demand in affordable and accessible suburbs is intensifying as homebuyers seek value amid rising prices in Australia's major cities.