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250-plus suburbs expected to double in value

There are now 263 suburbs within Australia where the median value is expected to double over the coming 10 years.

According to RP Data’s Autumn Investors Guide to Australia, Victoria and New Soutyh Wales have the largest number of suburbs where values are on track to double over the coming decade.

In NSW, there are 65 suburbs where values are expected to double, while Victoria boasts 68 suburbs and Queensland 41 suburbs.

Interestingly, the majority of the suburbs identified in the report were located in the regional areas rather than the capital cities.

For return on investment, we’ve seen better opportunities for value growth and rental yield in the country’s regional areas, while rental growth has been greatest in capital city markets, RP Data’s research director Tim Lawless has said.

Overall, Berrimah located in Darwin, was identified as the number one suburb in terms of value growth, with the region recording an average annual growth rate of 25.7 per cent.

This was closely followed by Deakin located in the ACT, where values climb, on average, by 19.8 per cent each year.