Western Australia has dominated a property list of the top 50 best performing council areas in the country, with the median house price in the Roebourne shire of $840,000 the highest in the nation.
Western Australia has dominated a property list of the top 50 best performing council areas in the country, with the median house price in the Roebourne shire of $840,000 the highest in the nation.
The list compiled by RP Data showed that half of the best performing councils were in WA with Roebourne claiming second place with an average annual growth over the past decade of 31.5 per cent.
The Isaac council area in Queensland recorded the highest average annual growth with 43.1 per cent, with the median house price rising from $10,901 to $392,500.
Roebourne claimed the highest median house price of all council areas at $840,000, from a base of $54,498 ten years ago, while annual growth for units in the area were 16.2 per cent as the median price jumped from $133,950 to $603,000.
Mining area Port Hedland was placed third overall with an average annual growth of 20.2 per cent over the past 10 years to $632,000 while Boddington came in third with 19 per cent as the median house price jumped from $100,000 to $360,000.
Newmont Mining's Boddington gold mine, expected to be Australia's largest gold operation, recently started production.
"Mining and resource regions have performed particularly well during the last ten years - several areas listed made it into the first six on the list of 50," research analyst Cameron Kusher said.
"These results further highlight the strength of the booming mining and resources sector during the last decade as well of the inability of new supply to keep pace with the increasing demand in many of these regions."
Other WA council areas to make it into the top 50 were Mosman Park which recorded an average annual growth over the last 10 years of 16.2 per cent to a median price of $360,000 for a unit, York with 16.1 per cent to $345,000 for a house, Cambridge with 16 per cent to $317,000 for a unit and Collie with 15.4 per cent to $255,000 for a house.
"In the next ten years, I expect that given our growing population which is heavily centralized, areas closer to major capital cities will probably perform best, however looking at percentage growth may not reveal the extend of their performance," Mr Kusher said,
"Because these regions closer to capital cities generally have a median price which already tends to be greater, the percentage growth figure may not look as impressive but in terms of absolute dollar value growth these regions are anticipated to outperform."
Last week, the outer suburbs of Perth dominated RP Data's top 20 list of the nation's best performing property areas over the past decade, with Herne Hill, near Midland, leading the charge.
