By Alesha Capone
Three Wyndham suburbs have been listed among the top 20 areas in the state that are likely to experience strong price growth next year.
The quarterly Well Home Loans Green Shoots Report selects locations across suburban and regional Victoria which display signs of potentially strong price growth, based on decreasing inventory levels, declining days on the market and increased asking prices across a three-month period.
“Inventory levels” refers the amount of time it would take to sell all the houses or units in a particular location, if they kept selling at the present rate and no more residences were added to the market.
The data analysed for the Green Shoots Report came from Suburbtrends, a property research consultancy.
The report placed Huntley, which is located in the city of Greater Bendigo, on top of the list for possible price growth in 2022 with an inventory level of 2.1 months, 22 days on the market and a $401, 648 median asking price, as of October this year.
Werribee placed fourth on the list, with an inventory level of 3.5 months (compared to 5.9 months, in the three months to October), 34 days on the market (compared to 36 days, three months earlier) and a $535,300 median asking price (compared to $526,985 three months earlier).
Truganina was ranked eleventh on the list with an inventory level of 7.1 months (compared to 8.3 months), 50 days on the market (compared to 52 days) and a $557,010 median asking price (compared to $547,800).
Placing thirteenth on the list was Williams Landing with an inventory level of 2.1 months (compared to 3.2 months), 62 days on the market (compared to 64 days) and a $727,200 median asking price (compared to $686,900).
Other areas in the top 20 included Melton South, Brookfield, Sunbury, Cranbourne East and Armstrong Creek.
Well Home Loans chief executive Scott Spencer said the Green Shoots Report identified houses across a diverse range of markets, most of which are reasonably affordable.
Mr Spencer said people looking to buy or sell a property should not rely solely on the Green Shoots Report when making buying decisions and should also seek professional advice.
