Popular Australian suburbs where buyer demand is exploding

Demand has soared in the suburbs over the past year, new data shows, with buyers looking for both desirable areas with few homes for sale and relatively affordable suburbs.

PropTrack data analysis shows demand is surging in many suburbs, even as high interest rates and rising property prices make it more difficult to buy a home.

By measuring key inquiries per listing on realestate.com.au (combining high-intent actions such as emailing an inquiry, calling an agent, and downloading documents), we find out how suburbs are for buyers. It can reveal how much demand there is.

Paul Ryan, senior economist at PropTrack, said tracking inquiries can indicate the level of demand from buyers in the later stages of buying a property, and buyers are more likely to inquire about properties for sale. said that it was high.

“We consider this a leading indicator of market activity, and we generally find that increased demand is associated with higher prices,” he said.

“They tend to have more serious buyers, so it’s a good indicator of how much competition there is for real estate.”

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A number of factors have stimulated demand for real estate this year, including rapid population growth and a tightening rental market against the backdrop of a slowdown in new home construction, leading some people to buy property. Ryan said.

“Housing costs are rising, but for some people it makes sense to take the leap into homeownership,” he says.

Mr Ryan said the lack of properties for sale earlier this year has focused buyer demand on properties available for purchase, which is a key factor driving price increases in many markets. Stated.

However, an increase in listing volume during the spring eased demand and eased the situation for buyers slightly.

“Price growth has slowed a bit, and auction winning rates have fallen a bit. Both remain strong, but have slowed down compared to mid-year.”

“This is consistent with more supply in the market and a bit more of a balance between supply and demand.”

Suburbs with the highest buyer demand

Sydney and Brisbane suburbs dominated the list of most in-demand suburbs, and Mr Ryan said this reflected the correlation between price and demand.

“Both cities have seen price increases of more than 7% so far this year,” he said.

Data shows that buyers are looking for space and affordability, with strong demand for urban suburbs that offer larger properties, entry-level price points, or both.

The suburb with the most inquiries per property is Holgate on the NSW Central Coast. According to the last census, there were only 313 homes in Holgate, most of them large homes built on large blocks surrounded by bushland, and at the time of publication there were only 313 homes for sale on realestate.com.au Only eight of his restaurants were served.

Inquiry data shows that suburbs with large residential areas with lush greenery are in high demand. Holgate, on the NSW Central Coast, received 95 inquiries per property, more than any other suburb in Australia. This 6 bedroom Holgate home on 5 acres of land is currently for sale. Photo: realestate.com.au/buy

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Adrian Stenner, of Prestige Properties, said buyers were attracted to the space, privacy and convenience offered by the Holgate property, which is minutes from shops, schools and the beach, as well as neighboring Matcham and Wamberal. He also said that the company is ranked high in inquiries for each property.

“A lot of beach people and young families are moving to other places,” she says. “There are also quite a few people who are moving from large farms to five-acre lots, downsizing but still wanting a rural property for space and privacy.”

Stenner said demand from buyers has been consistently strong, especially given that so few properties come on the market each year and most buyers stay on for decades.

“I have five on the market and all the owners have been there for over 15 years,” she said. “Some people have been there for 40 years and others have been there for 30 years. They're very tightly held.”

Packenham Upper had more inquiries per property than any other suburb in Victoria. This five-acre Upper Packenham property is on the market for $1.4 million to $1.54 million. Photo: realestate.com.au/buy

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Chandler, in Brisbane's south-east, has the second highest number of inquiries per property in Australia. The suburb is less than 30 minutes from Brisbane's CBD, yet offers spacious homes on large plots, which Storia Estate Group director Joseph Rodi says is important to buyers. He said it was attractive.

“You get a nice big piece of land, a 2.5-acre parcel, but still have easy access to the city and the bay,” he said.

Data shows buyers in Brisbane are looking for larger properties with good access to amenities. Set on acres, this expansive five-bedroom Chandler house features a large pool and tennis court. Photo: realestate.com.au/buy

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In Brisbane, leafy, spacious southern suburbs such as Burbank, Forestdale and Kingsholm topped the list of inquiries per property.

“The demand for space is greater than ever,” Lodi said. “Many people are working from home several days a week and no longer need to be as close to the city, so they are looking for properties that suit their lifestyle.”

Demand surges in affordable suburbs

Ryan said the high number of inquiries in suburbs away from the city center was due not only to a desire for more space due to changing labor trends, but also to worsening affordability due to rising interest rates and property prices. He said that it reflects the

“Rising interest rates have made affordability so tight that people are changing what they’re looking for and looking for properties a little further afield,” he said.

Affordable homes in Melbourne's suburbs, such as this four-bedroom Craigieburn home, are receiving dozens of inquiries, according to the latest figures. Photo: realestate.com.au/buy

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In Melbourne, the top 50 most-inquired suburbs for each listing were all located on the city's periphery, with the exception of Toorak, the city's most expensive suburb. Median home prices in most neighborhoods were lower than the citywide median of $924,000.

In the outer east, Pakenham Upper, Belgrave and Selby received the most inquiries per property, consistent with the trend towards larger, leafy properties seen in other cities, while Craigieburn, Coolaroo and Meadow Heights There was a similar level of demand in more affordable suburbs such as .

The trend towards affordable suburbs is even more evident when looking at the suburbs that have seen the biggest increase in demand over the past year.

In Sydney, many of the more affordable suburbs, such as Enora, East Lakes and Birdwell Valley, have seen a significant increase in property enquiries, as house prices are lower than surrounding suburbs.

East Lakes, where home prices are slightly lower than nearby Rosebery, Pagewood and Kingsford, has seen a surge in inquiries. The two-bedroom home was sold for $1.54 million in June. Photo: realestate.com.au/ sold

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Demand for housing in Holroyd, Greystands and Pendle Hill has soared over the past year, with these suburbs offering affordable apartments, villas and townhouses with good transport links close to Parramatta CBD .

Perth's southeastern suburbs saw a spike in inquiries, including Kelmscott and Canningvale for detached homes, and Armadale and Camilo for residential properties.

The data shows that most of Melbourne's suburbs, including Campbellfield, Beaconsfield and Travancore, which have seen the biggest increase in inquiries per property listing, have median sales prices lower than the citywide median of $626,000. It was low.

Travancore, which is generally more affordable, saw a 67% jump in demand for housing. This two-bedroom Travancore apartment is advertised from $620,000 to his $680,000. Photo: realestate.com.au/buy

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Mr Ryan said rising interest rates were causing buyers to widen their search to lesser-known suburbs where home prices were a bit cheaper.

“Due to tough affordability conditions, many people are dispersing where they would traditionally look for housing,” he said.

Buyers look for hidden gems in dedicated pockets

It's not just large homes and affordable suburbs that are attracting the most buyers. The data also shows that demand for homes in upscale enclaves, where homes sell for high prices, is also high.

Homes in many of Sydney's most popular suburbs often feature stunning water views, like this Yowie Bay waterfront home. Photo: realestate.com.au/buy

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In Sydney, inquiries have been received for homes in waterfront suburbs such as Chiswick, Warreenbah and Tennyson Point on the Parramatta River, and in Woronora, Yowie Bay and Sandringham in the south.

Local real estate agent Joseph Tropiano of Stone Real Estate said densely populated areas like Chiswick – where inquiries have more than doubled in the past year – were less well-known than surrounding suburbs; It is said that it has become popular among buyers who are attracted to the lifestyle. Convenience and variety of housing options.

Chiswick saw a sharp increase in inquiries per listing compared to other Sydney suburbs. This five-bedroom home in Chiswick recently sold for around $5.1 million. Photo: realestate.com.au/ sold

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“It's a remote area, but with great access to the city and the Lower North Shore,” he says. “Houses are rarely vacant because people don't move around as much.”

Upmarket suburbs such as Longville, Gordon and Pymble in Sydney's north, Vaucluse, Rose Bay and Double Bay in the east, and Connells Point and Kangaroo Point in the south all had high numbers of inquiries per property.

Homes in Pymble, like this 1378 square meter property, typically receive 48 inquiries per property, more than double the national average of 19. This photo: realestate.com.au

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Mr Ryan said high demand in expensive suburbs over the past year correlated with rising prices, with the top end of the market leading the recovery.

“High-priced regions of the country fared very well. This is in stark contrast to 2022, when high-priced regions led the decline in prices,” he said.

“Many of these markets have seen a strong recovery and these demand statistics show that.”