Mining drives decade's top council hotspots

The mining-rich Isaac local government area in Queensland's Bowen Basin saw the highest property values growth in the country during the 2000s, RP Data research shows.

Median house prices in the shire, which includes towns such as Dysart and Moranbah, grew at a rate of 43.1 per cent per year over the decade, though they came off the extremely low base of $10,900 in December 1999.

RP Data research analyst Cameron Kusher examined the rate of growth in local government areas across the country over the past decade and found mining areas dominated the top end of the list, with extremely strong percentage growth.

Western Australia accounts for half of the council areas making the top 50 growth list, Kusher says, while South Australia has seven entrants, and New South Wales and Queensland have six each.

Joining Isaac in the top five council areas for price growth were:

  • Roebourne, WA, where median house prices were up 31.5 per cent per year;
  • Port Hedland, WA, where median house prices were up 20.2 per cent per year;
  • Boddington, WA, where median house prices were up 19 per cent per year; and
  • Unincorporated, Northern Territory (a classification covering an extensive area of land outside of the territory's main population centres), with median house price growth of 18.2 per cent per year.

Rounding out the top 10 list were: Central Highlands, Qld (18.1 per cent); Flinders, Qld (17.9 per cent); Queanbeyan, NSW (17.7 per cent); Boorowa, NSW (17.3 per cent); and Playford, SA (17.1 per cent).

"In the regional areas we're generally seeing stronger price growth during the last 10 years thanks to mining and resource booms, and the fact that their prices have come from a very low base," Kusher says.

"The next 10 years could be vastly different."

Kusher says his nationwide analysis reveals there are very few locations remaining with a low median house price.

Therefore, he suggests the level of average annual price growth over the coming decade won't be as strong as that recorded during the past decade.