Where did house & unit prices really rise in 2016?

Prices skyrocketed in some areas in 2016, with median house values rising by over 40% for the top 5 performing suburbs in Australia

Logic core RP Data figures for 2015 show that with the exception of two suburbs, at least ten areas for growth in the price of the average house price is now more than $ 1 million, with an average unit price varies from $ 235,146 to $ 930,400.

RP core logic median value of data bases on middle value of all automated valuation in each area. The list covers suburbs with at least five sales in the past year. To get the percentage change in average prices, the core Logic RP Data looked at differences in the median values for 12 months.

CoreLogic RP Data senior analyst Cameron Kusher said very strong growth this year is unlikely to survive.

While Sydney and Melbourne have seen quite strong increases in home values, growth has been moderate elsewhere while values have already moved through their peaks in Perth and Darwin,

The value of the current growth phase has been running for more than three and a half years, after Starting in June 2012. The erosion of housing affordability is one of the factors that contribute to the current value and the expected slowdown in growth.

Where are the biggest growth areas?

Houses wise, St Kilda West in Melbourne saw the average price rose 48.9 percent to $ 2,104,041 which did not surprise Greg Hocking of Greg Hocking Real Estate, which said the area "ticks all the boxes".

"What happens is that some properties of a higher value (in St Kilda West) have passed through the market, especially in the last six months which will deflect a bit of data. That said, St Kilda West did not throw up a larger home at a greater value of said Central Park, "he said.

Some buyers meet on Middle Park and Albert Park and they went to St Kilda. Location wise it has all the same amenities."

It has a large block of land and that continues to attract people, "he said adding that the turnover rate is relatively lower in the Bayside is raising demand and prices in St Kilda West.

Lake Heights has been an untapped market for many years, he has a view of Lake Illawarra, "he said.

"Residents of Sydney love the view. Most of our buyers in Lake Heights was from Sydney.

"To buy the view in Sydney you have to spend millions, here you spend $ 500,000."

Price for the unit, Lake Heights is a top performer with an average unit price rose 47 percent to $ 364, 915.

Where did house & unit prices really rise in 2016?

Australia-wide: the highest growth in average house prices

Each area is listed by name, median home prices and percentage changes over the last 12 months.