The ones that got away
If you could turn back time to 10 years ago and invest in property, where would you choose to buy?
If you had a spare $1,106,358 in your pocket in May 2008, you’d be hot-footing it to the Sydney suburb of Strathfield: here you would buy a house that would go on to achieve a 172.6% lift in value over the next decade to be Australia’s top median value of $3,015,932 in May 2018, according to onthehouse.com.au, which looked at the 10 top-performing suburbs in each state over the past 10 years.
If you had a smaller budget then Derrimut (in Melbourne’s Brimbank) would be worth a look. The suburb delivered a whopping 257.9% lift, soaring from $183,352 to $656,195. The reason for the stratospheric growth, says onthehouse.com.au, is the fact that 10 years ago Derrimut was brand new and growth has since been swift. With commuter links ensuring good access to the CBD, many amenities (including recreational and educational facilities), plus plentiful green spaces and parks, it’s popular with families and young professionals.