Home prices in Australia have increased dramatically over the last decades as a result of a strong economy and immigration. Property values in major cities like Melbourne and Sydney have grown significantly while growth has been much weaker in smaller cities like Perth. 

Here is a list of the regions with the highest annual property price increase over the last 30 years.

1.Yarra (Melbourne) - 7.51%

Yarra is a local government area in Victoria, Australia, located in the inner eastern and northern suburbs of Melbourne. It is the second smallest LGA in the state with an area of 19.5 square kilometers (7.5 sq mi), and in June 2021 it had a population of 91,543, making it the second most densely populated LGA, with around 4,695 people per square kilometer.

2.Melbourne City - 7.44%

Melbourne is the capital and most populous city of the Australian state of Victoria. As of 2021, the City of Melbourne had an estimated population of 147,614, making it the most populous municipality in Australia. Its metropolitan area, Greater Melbourne, is the most populous urban area in Australia and the second largest in Oceania. Melbourne is located on the Yarra River, at the head of Port Phillip Bay.

3.Gungahlin (ACT) - 7.41%

Gungahlin is a large district in the north of Canberra, the capital of Australia. It is situated on the Yerrabi Plains along the northern border of the Australian Capital Territory (ACT), about 12 kilometres (7.5 mi) from Canberra's city centre. Gungahlin is one of the most populous districts in Canberra, with a population of over 80,000 people.

4.Boroondara (Melbourne) - 7.33%

Boroondara is a local government area in Victoria, Australia, located in the eastern suburbs of Melbourne. It is home to a number of affluent suburbs, including Hawthorn, Kew, and Camberwell. The area is known for its leafy streets, parks, and gardens, as well as its excellent schools. Boroondara is also home to a number of cultural and sporting attractions, including the National Gallery of Victoria, the Melbourne Cricket Ground (MCG), and the Australian Open tennis tournament. 

5.Maribyrnong (Melbourne) - 7.22%

Maribyrnong is an inner-city suburb in Melbourne, Victoria, Australia, located 8 kilometres (5.0 mi) north-west of Melbourne's Central Business District (CBD), within the City of Maribyrnong local government area. Maribyrnong takes its name from the Maribyrnong River, which bounds the suburb to the north and east.

6.Port Phillip (Melbourne) - 7.03%

Port Phillip is a local government area in Victoria, Australia, located in the southern part of Melbourne. It is a well-connected suburb with easy access to the CBD by public transport. The suburb is also close to a number of major roads, including the West Gate Freeway and the Tullamarine Freeway.

7.Marrickville - Sydenham - Petersham (Sydney) - 6.99%

Marrickville-Sydenham-Petersham is a vibrant and multicultural inner-west region of Sydney, Australia, encompassing the suburbs of Marrickville, Sydenham, and Petersham. It is known for its eclectic mix of cultures, trendy cafes, and vibrant arts scene. Marrickville-Sydenham-Petersham is a dynamic and welcoming community that offers a taste of Sydney's diverse and vibrant culture. With its mix of trendy hotspots, family-friendly neighborhoods, and hidden gems, the region has something to offer everyone.

8.Eastern Suburbs - North (Sydney) - 6.91%

The Eastern Suburbs is an affluent region in Sydney, Australia, comprising the suburbs of Vaucluse, Watsons Bay, Woollahra, Point Piper, Double Bay, Darling Point, Rose Bay, and Dover Heights. The area is known for its stunning harbor views, exclusive real estate, and a relaxed, luxurious lifestyle.

9.Brunswick - Coburg (Melbourne) - 6.88%

Brunswick and Coburg are inner-city suburbs in Melbourne, Victoria, Australia. They are known for their vibrant arts and music scenes, as well as their many cafes, restaurants, and bars. The suburbs are also home to a number of parks and gardens, including Brunswick Park, Coburg Lake Reserve, and Merri Creek Parklands. Brunswick and Coburg are great places to live, work, and visit. They are vibrant and multicultural suburbs with a rich history and culture.

10.Mornington Peninsula (Melbourne) - 6.87%

The Mornington Peninsula is a coastal region in Victoria, Australia, located about an hour's drive from Melbourne. It is known for its stunning beaches, rolling hills, vineyards, and wineries. The Mornington Peninsula is a great place to visit for a day trip or a longer vacation. With its stunning scenery, diverse activities, and delicious food, there is something to offer everyone on the Mornington Peninsula.