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The country’s best-performing housing market added nearly 30 percent to its property prices this year despite being in the middle of a global pandemic.

CoreLogic’s “Best of the Best” report revealed that Sunshine Beach, a suburb of Noosa in Queensland, had the best performing home prices over the past 12 months.

In just one year, home prices in Sunshine Beach rose 27.6%, the largest capital gain in a year of any suburb in the country.

This Sunshine Beach property is accepting offers of over $ 950,000. (Fresh Noosa Property)

Eliza Owen, research director for CoreLogic in Australia, said that COVID-19 led many to think about the lifestyle associated with such properties.

“The relative popularity of lifestyle markets is evident in our report, and the regional Australia outperformed the combined market of capital cities,” said Owen.

“With the exception of the higher median value suburbs, our Best of the Best report is dominated by high-performing regional areas across the country.

“Sunshine Beach on the Sunshine Coast has seen the highest annual home equity growth nationally, compared to 2019 when St Kilda in Melbourne experienced the highest home growth.”

This blue ribbon property is currently for sale in Sydney’s Darling Point. (Domain)

The suburb with the highest median home value is Sydney’s Darling Point, where the median range of properties on sale cost an average of $ 7 million.

The suburb with the lowest median value is Norseman in Western Australia, where you can buy a home for just $ 58,582.

Owen said that Darling Point’s win this year showed how relatively stable luxury markets are, despite global uncertainty.

The 'resilient' housing market is leaning towards a boom
The luxury properties held up well in value. (Supplied)

“The Best of the Best report for 2020 highlights the resilience of the luxury markets in Australia, where the highest median home value was once again in Darling Point, and the highest median unit value was found in Point Piper , just like in 2019, “Owen said. said.

“This is not to say that these suburbs have not been affected by the pandemic; in fact, the upper part of the Sydney market is generally more volatile to changes in economic conditions.

“However, this volatility also tends to see a rapid recovery from lower mortgage rates and an improvement in consumer confidence.”

America’s most expensive property on the market for $ 215 million

The data also broke down the best-performing suburbs in terms of capital gains for each state and territory.

For New South Wales it was Bombala in the Monaro region (up 22.6%), for Victoria it was Murtoa in the northwest of the state (up 22.4%) and for South Australia it was Port Elliot in the southeast ( up to 23.7%). penny).

In Western Australia it was Wannanup in Mandurah (up 17.2 per cent), in Tasmania it was Rosebery in the North West (up 27.3 per cent) and in the Northern Territory it was Alawa in Darwin, which won 24 per cent Of value.

Last but not least, Flynn was the best-performing suburb in the nation’s capital, adding 15.5 percent of the value.

The most expensive suburbs in Australia 2020

State:

Suburb:

Madian value:

NSW

Darling Point, Sydney

$ 7 million

Victory

Toorak, Melbourne

$ 4 million

Queensland

Tenerife, Brisbane

$ 1,859 million

South Australia

Unley Park, Adelaide

$ 1.4 million

Western australia

Peppermint Grove, Perth

$ 2.4 million

Northern Territory

Lyon, Darwin

$ 720,580

ACT

For rest

$ 3.125 million

Tasmania

Battery Point, Hobart

$ 1.18 million

* CoreLogic 2020 Best of the Best Report

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