New data underscores the long-term strength of the Australian property market, with house prices doubling in more than 29 townships over the past five years.

According to Propertyology, an additional 50 suburbs and towns recorded price growth between 70% and 90% during the same period, highlighting the resilience of regional property markets.

Propertyology Managing Director Simon Pressley describes the past five years as delivering some of the strongest national property market performances since Federation.

Regional markets have led this growth, with 11 inland towns ranking among the top 35 for price appreciation.

Pressley attributes this success to affordability and strong job markets, particularly in agribusiness and the resources sector.

“The fundamental driver of property market performance is always local economic conditions,” he says.

Top-performing locations in Queensland include Gatton, Kingaroy, Somerset, Bundaberg, Rockhampton, and the Western Downs.

In Western Australia, Port Hedland, Mandurah, Busselton, and Geraldton saw significant gains, while Murray Bridge, Mount Gambier, and Port Pirie led growth in South Australia.