A stunning four-bedroom home with unrivalled views on Iola Ave in Farmborough Heights hit the market recently for $670,000
The Illawarra region, 5 kilometres south of Sydney, has seen a 16 per cent property price rise in the past year, with the average house costing almost $600,000. This property is on the market for $670,000
'As you would expect, this market been driven largely by a surge in Sydney property prices as people find themselves priced out of the capital city housing market,' CoreLogic analyst Cameron Kusher said, according to The ABC.
By the end of March this year, the standard cost for a unit was $442,000.
'The Illawarra region offers not just an affordable alternative for owner occupiers; it's also attracting buyers keen to secure holiday homes.'
Newcastle, 160 kilometres north of Sydney, reported an 8.1 per cent surge in housing prices.
The Gold Coast, an hour drive from Brisbane, documented a 7.2 per cent jump in the market and this property, in Wongawallan, is on sale for $630,000
The three-bedroom home sits on 10 acres of lands and boasts three undercover car spaces and two visitor parking bays
The house has a wrap-around veranda and is surrounded by bushland and stunning views
The $630,000 property has a private Billabong, solar panels, a workshop and two water tanks totaling 41,000 litres
Newcastle, the Gold Coast, the Sunshine Coast and Geelong (pictured, a three-bedroom home on Morrison Street) have also documented property price growth and research analysts believe the region's proximity to the city is driving the market
The townhouse is on the market for $595,000 and offers a huge family room, polished floorboards and is a short stroll to Geelong CBD
The master suite has a private balcony, walk-in robe and a decent-sized ensuite with a double vanity
Queensland's Sunshine Coast documented a 4.4 per cent rise in house prices and this five-bedroom property has hit the market at $795,000
The property has an orchard of the flowering plant feijoa and a 70,000 litre water tank
Newcastle, the Gold Coast, the Sunshine Coast (pictured) and Geelong have documented property price growth and research analysts believe the region's proximity to the city is driving the market
It boasts five bedrooms, four bathrooms, seven car spaces and is considered an ideal home for entertaining guests
REGIONAL PROPERTY PRICE RISES
Illawarra region: 16 per cent
Newcastle: 6.3 per cent
Geelong: 5.4 per cent
The Gold Coast: 7.2 per cent
The Sunshine Coast: 4.4 per cent
Cairns: 2.7 per cent
The Gold Coast, an hour drive south from Brisbane, had a 7.2 per cent jump in the market, while the Sunshine Coast, an hour north of Brisbane, documented a 4.4 per cent rise in house prices.
It appeared some locked out of the housing market in Melbourne looked 75 kilometres northeast to Geelong. House prices were up 5.4 per cent and unit prices had risen 2.8 per cent.
Cairns, in Far North Queensland, also documented a small house price surge of 2.7 per cent. In May 2015, data from the Real Estate Institute of Queensland revealed the median house value in Cairns had surged by 7 per cent.
It was the second biggest increase in state and the average house value was $383,134, The Cairns Post reported.
It appeared not as many buyers flocked to Townsville as the city documented a 2.2 per cent decline in housing prices and 3.2 per cent in unit prices.
Newcastle, 160 kilometres north of Sydney, reported an 8.1 per cent surge in housing prices and this property in Waratah is on the market for $620,000
The four-bedroom, two bathroom home was built circa 1915 and is fit with a study and private rear paved courtyard
The $620,000 home has a tandem garage, solar hot water and is located close to primary schools and public transport