ALTHOUGH the booming property market in Sydney and Melbourne has dominated the headlines, one of the strongest growing suburbs across Australia over the last 12 months was in Brisbane.

Yeronga in Brisbane’s south scored the number two spot in the Top Performing Suburbs Report from real estate analytics company CoreLogic.

The report had a look at the rate of growth over the last 12 months across a number of consistently strong performing suburbs.

Cockatoo, a small town 48km south east of Melbourne was the top of the list, with its median house value growing by 41.6 per cent over the last 12 months to $569,177.

Yeronga has a slightly lower median value growth over 12 months of 40.9 per cent according to the report.

Head of research at CoreLogic Cameron Kusher said this was from valuation data rather than sales data, and as Yeronga was a tightly held suburb with a small number of recent sales the rapid increase in value had not yet been seen in increased sales prices.

“It is more of a holistic approach,” Mr Kusher said.

Of the top 50 suburbs named in the report, only two Queensland suburbs made the cut.

Mr Kusher said Yeronga might not seem cheap, with homes currently having a median sales price of just under $900,000, but when compared to equivalent suburbs in Sydney and Melbourne it looked like good value for many buyers.

“Something close to the river and close to the city is pretty desirable,” he said.

Originally Published: www.realestate.com.au