The majority of Australian suburbs have maintained the high prices of the past two years, despite a slowdown in some markets.

Analysis by PropTrack shows that 77% of suburbs still have median house prices higher than when interest rates started to rise two years ago. Unit prices also remain higher in 71% of suburbs. The list of suburbs to achieve the highest growth rates in the past two years is dominated by locations in South Australia, Western Australia and Queensland.

PropTrack senior economist Angus Moore says the common denominator is that the suburbs with the strongest price growth are relatively affordable. “Higher interest rates have reduced borrowing capacities for buyers, and that has pushed some homebuyers to look at more affordable locations,” he says. For example, someone who could have borrowed $1 million before interest rates started rising can now borrow between $600,000 and $700,000.

Davoren Park, in Adelaide, had the highest median house price growth of 82% to $465,000. Salisbury East also in Adelaide had the highest growth in the unit market, up 91% to $464,000.