Now could be the right time to buy a house in Helensburgh, if a new property forecast proves to be correct.
New research has revealed the top 10 suburbs throughout the nation with forecast median house price growth of up to 30 per cent over the next three years.
The analysis by SuburbGrowth.com.au - part of the Select Residential Property Research Group - identified the top 10 suburbs within major markets.
Suburbs included must be located within a significant urban area with a population of 100,000 people or more.
The list also looks at houses, but not units.
Making the list of the top ten suburbs for future capital growth was Helensburgh.
Helensburgh took out the number three spot on the list.
According to the findings, Helensburgh had a median house price of $747,000 as of August 31, but this was projected to grow by 28.60 per cent in the next three years.
This would be an increase in value of $213,446.
"Helensburgh's location as well as affordability compared to Sydney are just some of the reasons why this suburb is poised for growth," SRP director of research Jeremy Sheppard said.
Mr Sheppard said the research identified the suburbs with sound market fundamentals, including the economic principals of demand and supply, that apply upward housing price pressure.
He said there were a series of metrics they looked at, with factors such as auction clearance rates, vacancy rates, selling times and percentage of stock on the market all taken into account.
"The analysis uses 17 market variables to help us determine the locations with the best chance of superior price growth over the next three years," Mr Sheppard said.
Mr Sheppard said some markets may not respond as accurately to demand and supply as the metrics predicted, but said they'd been scoring suburbs in this way for almost a decade.
Mr Sheppard said the research highlights that each major region has suburbs with price potential, regardless of what the market cycle is doing at the time.
"These suburbs all have a number of desirable features, however, one of the main reasons why house prices are forecast to grow is an imbalance of demand to supply," he said.
"The thing is, even if prices end up only climbing by half as much as predicted, such is the nature of forecasting, it's still a great return on investment over a short period of time."
Top 10 suburbs for future capital growth
- Balaclava (Melbourne)
- Narraweena (Sydney)
- Helensburgh (Wollongong)
- Fullarton (Adelaide)
- St Albans Park (Geelong)
- Charnwood (Canberra-Queanbeyan)
- Waratah (Newcastle - Maitland)
- Currimundi (Sunshine Coast)
- Grange (Brisbane)
- Colonel Light Gardens (Adelaide)