Yahoo Finance Hot property: Australia's most in-demand suburbs
The most sought-after suburbs for houses and units have been revealed.
Aussies property buyers are flocking to inner-city apartments, more affordable middle- and outer-metropolitan homes and scenic areas across the country as we head into winter.
Victoria is seeing the highest level of demand among buyers, according to new research from PropTrack, particularly among those looking to buy a house.
The state accounted for nine of the top 10 most highly engaged suburbs for houses listed on realestate.com.au, and six of the top 10 for units.
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Berwick, in Melbourne’s south-east, was the most sought-after suburb for houses, with 41,860 highly engaged buyers over the 12 months to the end of May 2023. This included buyers who completed a number of actions on the platform, including saving a property or inspection time.
This was followed by Buderim on Queensland’s Sunshine Coast - with 38,452 potential buyers over the year - and Kew in Melbourne - with 33,229 highly engaged buyers.
“Suburbs seeing the most engagement among those looking to buy a house are typically located in middle- and outer-metropolitan areas of capital cities,” PropTrack economist Anne Flaherty said.
Melbourne city was the most in-demand suburb for units (74,890 potential buyers), followed by Surfers Paradise on the Gold Coast (51,659 potential buyers) and South Yarra in inner-city Melbourne (44,863 potential buyers).
“When it comes to the suburbs seeing the highest level of engagement for units, inner-city areas dominate, with the Melbourne, Brisbane, and Adelaide central business districts all making the national top 10,” Flaherty said.
“Across all states, the suburbs seeing the most engagement from buyers are typically located in scenic areas that combine high levels of liveability with excellent amenity. Standout regions include Sydney's scenic Northwest, Melbourne's Outer East and Mornington Peninsula, and Queensland's Gold Coast.”
Top 20 suburbs
For houses, the most in-demand suburbs were:
Berwick, VIC - 41,860
Buderim, QLD - 38,452
Kew, VIC - 33,229
Point Cook, VIC - 32,671
Brighton, VIC - 32,262
Croydon, VIC - 32,230
Richmond, VIC - 31,833
Mount Martha, VIC - 31,268
Frankston, VIC - 31,265
Werribee, VIC - 30,908
For units, the most in-demand suburbs were:
Melbourne, VIC - 74,890
Surfers Paradise, QLD - 51,659
South Yarra, VIC - 44,863
St Kilda, VIC - 39,082
Richmond, VIC - 36,139
Southbank, VIC - 33,360
Hawthorn, VIC - 33,038
Brisbane City, QLD - 32,812
Southport, QLD - 29,702
Adelaide, SA - 28,554
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