28 October 2013 Geelong's suburb of Rippleside is the state's best performing regional location, with its median house price jumping 32 per cent in the last 12 months.
Rippleside has actually maintained that growth rate of 32 per cent over the last five years, with its median house price currently sitting at $565,191.
The tiny bayside suburb is near the water and a train station and is only one hour's commute from Melbourne's CBD.
The RP Data Report How Much Is Your House Worth identified Toongabbie is Gippsland as the second best regional performer with a 25 per cent increase in its median house value over the past year and a 37 per cent rise over the last five years.
Lorne takes out the state's most expensive regional suburb with a median value of $851,029.
BEST REGIONAL PROPERTY PERFORMERS (Last 12 Months)
HOUSE PRICE MEDIAN VALUE
1. RIPPLESIDE ($565,191) Up 32%.
2. TOONGABBIE ($280,557) Up 25%.
3. NERRINA ($435,194) Up 22%.
4. BROADFORD ($318,638) Up 21%.
5. MACEDON ($552,177) Up 21%.
6. CORINELLA ($356,889) Up 17%.
7. LEONGATHA ($327,787) Up 17%.
8. LAKE GARDENS ($438,032) Up 15%.
9. PARADISE BEACH ($192,315) Up 15%.