Yahoo Finance The 40 capital city suburbs where homes are about to flood the market
If you were considering purchasing a home in Sydney’s Paddington, or Melbourne’s Pakenham, you’d be making the right move.
According to new research from Westpac, these are two popular suburbs where scores of homes will soon hit the market.
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The Westpac research conducted by Insight Data Solutions found the top 10 suburbs in each Australian capital city where sellers were most likely to list homes in the next six months.
“It’s helpful to know where these potential pockets of supply could come from…(and there’s) a spread of hotspots across metropolitan suburbs, offering potential buyers some choice when it comes to their preferred location,” said Westpac general manager of home ownership Will Ranken.
In Sydney, the popular suburbs where many houses were about to hit the market were Paddington, Glenmore Park, Dover Heights, Ruse and Balgowlah.
And in Melbourne, those suburbs were Pakenham, Burnside, Caroline Springs, Cranbourne and Taylors Hill.
In Perth, Claremont, North Coogee, City Beach, Iluka and Floreat were the most likely to list, and in Canberra, Bonner, Casey, Forde, Crace and Macgregor were named.
According to research by Lonergan, around 2.1 million Australian homeowners are looking to sell in the next five years.
And according to data from CoreLogic, in the week to 20 October, the percentage of homes selling at auction was 75.6 per cent, up from only 46 per cent clearing auction on that week in 2018.
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