Flood-ravaged Goodna has topped the list following a late surge in house prices in Brisbane and Ipswich.
In figures releases today by the REIQ, the average price of a house in Goodna in the December quarter jumped 32.7% to $272,000.
This follows a drop of 13.3% over the previous year.
The nearest increase in the Brisbane region was 24.1% at suburban Coorparoo in Brisbane.
The leafy upmarket Brisbane suburb of Ascot recorded the biggest drop in property values plummeting 33.8% in the December quarter with a 26.6% drop over the preceding 12 months.
Goodna was the hardest hit suburb in southeast Queensland in the flood of January 2011 with 600 homes destroyed.
Property prices in the suburb plummeted immediately with homes being sold for as little as $100,000.
Goodna councillor Paul Tully who lost his own home at Goodna in the flood said the latest price rises were fantastic news for the suburb.
"We are slowly bouncing back from the devastation of 2011.
"Businesses are getting back to normal and ninety percent of homes have been reoccupied.
"There is a new spirit of optimism in Goodna as the latest house prices boosts the momentum of recovery," Cr Tully said.