A look at the property fortunes of the electorates that flipped this election

The independent wave that rolled through this year's election occurred in some of the most well-heeled seats in Australia, an analysis of property data shows.

​

While the counting continues, 19 seats have changed hands this election so far.

​

An analysis of median dwelling prices shows that most of electorates won by independents have a median price above $1.5 million - more than double the national median.

​

Mackellar, Wentworth, Kooyong, Goldstein and North Sydney, all located in New South Wales and Victoria, form five of the 10 most expensive electorates in the country.

​

Homes in newly won Labor electorates such as Bennelong, Reid and Boothby had comparatively lower medians.

​

Swan, Hasluck and Pearce in WA had the lowest median dwelling prices among flipped electorates, all well below the current national median of $630,000.

​

In terms of percentage growth, homes in Mackellar, Hughes and Robertson in New South Wales grew the most since the last election relative to all other electorates that experienced a party change.

​

All three are either beachside and nature-rich electorates, which have been in high demand since the onset of the pandemic.

​

Swan and Curtin in WA recorded more modest median price growth of 11% and 12% respectively, while Griffith in Queensland grew by only 12%.

​

As we move through 2022 and mortgage rates continue to rise, we expect most electorates to experience a slow-down or reversal in price growth over the coming year.