Australia’s regional property market has experienced significant price growth over the past year, with many towns seeing remarkable increases in median house prices. According to an analysis released by REA Group, regional areas across the country have been the standout performers in the real estate market, demonstrating strong year-on-year growth.
This surge in demand for regional properties has been driven by a combination of factors, including lifestyle changes brought about during the pandemic, affordability compared to major cities, and the rise of remote working. Here’s a look at the top 10 regional towns in Australia for year-on-year median house price growth.
Lochinvar in New South Wales tops the list with an incredible 67% increase in median house prices. Located in the Hunter Region, this charming town has seen a rise in interest due to its peaceful rural setting and proximity to major centres like Maitland and Newcastle, offering an ideal balance between a country lifestyle and urban conveniences.
Coming in second is Hyde Park, Queensland, with a 59% increase. Situated near Townsville, Hyde Park offers affordable housing options close to schools, parks, and shopping centres. The town’s strong community feel and increasing desirability have contributed to its impressive price growth.
Also in Queensland, Millmerran saw a 50% jump in median house prices. This rural town offers expansive properties at comparatively lower prices, attracting those looking for more space and tranquility. The town’s affordability and lifestyle appeal have driven demand.
Sharing the third spot with Millmerran is Tralee, NSW, which also experienced a 50% increase. Located just outside Canberra, Tralee offers easy access to the nation’s capital while maintaining a serene, rural atmosphere. Its proximity to employment opportunities in Canberra makes it a desirable choice for families and professionals.
Western Australia’s Tarcoola Beach saw a 48% rise in house prices. This coastal suburb of Geraldton is known for its stunning beaches and relaxed coastal lifestyle, attracting buyers who want to enjoy waterfront living without the hefty price tags of major coastal cities.
Bonville, located near Coffs Harbour in NSW, saw a 46% increase in median house prices. Known for its lush landscapes and the renowned Bonville Golf Resort, this town combines natural beauty with recreational opportunities, making it an increasingly popular destination for both retirees and families.
In Queensland, Bundaberg West also experienced a 46% rise in house prices. As part of the greater Bundaberg area, known for its sugar cane industry and coastal beauty, Bundaberg West is benefiting from the broader regional property boom, offering a blend of city convenience and regional charm.
Close to the heart of Cairns, Bungalow saw a 45% increase in property values. Its central location, affordability, and proximity to tropical attractions such as the Great Barrier Reef make Bungalow an attractive option for buyers looking to invest in the far north.
In South Australia, Keith recorded a 43% increase in median house prices. Located along the Dukes Highway, Keith is a gateway to South Australia’s agricultural regions, offering a quieter, rural lifestyle while still being connected to Adelaide.
Rounding out the top 10 is Rangeway, Western Australia, with a 40% rise in house prices. Located near Geraldton, Rangeway offers affordable housing options close to the coast, attracting first-home buyers and investors looking to capitalise on its growth potential.
The surge in regional property prices can be attributed to several key factors:
As demand for regional properties continues to rise, price growth in these areas shows no signs of slowing down. For those looking to invest or move to a regional area, it’s essential to stay informed about market trends and the potential for future growth.
Need more information on buying or investing in regional properties? Talk to your broker at for expert advice on navigating the regional property market and finding the right opportunity for you.
