Property prices are continuing to rise, with PropTrack analysis revealing the top performers over the past 12 months.

Armadale in Perth led the way with a 42.9% increase in house values year-on-year.

In Adelaide, Davoren Park saw nearly 38% growth, while Sydney’s Gables recorded 33%, Brisbane’s Kingston 29.2%, and Victoria’s Ivanhoe 17.3%.

PropTrack senior economist Eleanor Creagh highlights that these suburbs share common factors: tight housing supply and higher migration driven by affordable prices.

Creagh explains that with higher interest rates, buyers are gravitating toward more affordable areas. A chronic housing shortage, both in the rental and buying markets, is also pushing prices up.

“Addressing the housing supply across the country is crucial,” she says. “Perth has been the nation’s strongest performer over the past year.”

Western Australia property prices have surged by over 23% in the past year.