According to PropTrack, homebuyers should prepare for significant price increases over the next five years as housing affordability becomes even worse.
The data shows what property prices could be in each city and suburb by 2030 if the growth trends from the past five years were repeated.
REA Group senior economist Angus Moore said that while the modelling is not a forecast, it illustrates what could happen.
“A couple of themes that really stand out are just how strong the past five years have been, particularly for what were once more affordable markets…particularly places in Western Australia, bits of regional Queensland and…bits of Adelaide, particularly the north of Adelaide,” Mr Moore said.
If current trends continue, Sydney house prices could rise by 61 per cent over the next five years, taking the median to $2.4 million – up from $1.49 million today.
The harbourside suburb of Bellevue Hill could set a new national record with a median house price of $13.5 million.
Adelaide has experienced the strongest growth among capital cities, with house prices increasing 75 per cent since 2020.
This trend would push the median house price to $1.474 million by 2030.
“Adelaide has been a really big beneficiary of the pandemic…by giving people a greater choice in where they want to live and how they want to live,” Mr Moore said.
Melbourne’s growth has been more modest, with house prices rising just 17 per cent between 2020 and 2025.
If this pattern continues, Melbourne’s median house price would reach $1.001 million by 2030, an increase of only $146,000.
Brisbane homeowners could see their property values surge by nearly $700,000 to $1.53 million by 2030 if the extraordinary growth of the past five years continues.
Unit prices in the Queensland capital could reach a new median of $642,000.
“Queensland’s obviously been one of the big beneficiaries over the past five years,” Mr Moore said.
“It’s seen a lot of interstate migration, particularly from New South Wales and Victoria.”
In Hobart, affordable suburbs like Dodges Ferry and Rokeby recorded the largest five-year growth, increasing by 84 and 85 percent respectively.
This trajectory would see Dodges Ferry’s median house price jump from $685,000 to $1.268 million by 2030.
Darwin’s Muirhead house market is expected to be the top performer nationally, with potential growth of 107 per cent across five years, pushing the median house price from $730,000 to $1.512 million.
“Sydney is the nation’s least affordable housing market,” Mr Moore said.
“It’s been basically true every year…with only one brief exception when Tasmania eclipsed it during the pandemic.”
“Given the challenges in delivering housing in Sydney, and the fact that it is a high income city, it’s not surprising that housing is as expensive as it is.
“And you know, it’s not exactly good news for Sydney home buyers.”
