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The 16 Aussie suburbs running out of homes to sell

Eliza Bavin
·Personal Finance Editor
·2-min read
An aerial view of the NSW suburb of Mosman, looking out to the water.
Mosman is one of the fastest selling suburbs in NSW. (Source: Getty)

Despite experts predicting property price growth will slow down this year, the market is still as hot as ever in some sought-after suburbs.

New research commissioned by HOOD.ai found the top Australian house markets in desperate need of new listings due to severe undersupply.

In all these markets, the amount of time it would take for every property in the area to sell if no more were added to the market is less than one month.

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HOOD.ai founder and CEO Tommy Fraser said buyers who wanted to move to these suburbs were struggling right now, because owners just weren’t selling.

“Part of the reason Australia has been experiencing a property boom is because stock levels have been low, which has forced buyers to compete harder and bid up prices,” Fraser said.

“As a result, the median house price of most of these suburbs has experienced a double-digit percentage increase over the past year.”

Fraser said buyers desperately needed new stock to come onto the market.

“Right now, they’re in a terrible bind,” he said.

“When a house comes onto the market, do they offer a fair price and risk missing out? Or do they do whatever it takes to win the property but overpay?”

Here are the top 16 suburbs and their average house prices:

  1. North Sydney, NSW - $2.4 million

  2. Dapto, NSW - $737,000

  3. Belmont, VIC - $735,000

  4. Highton, VIC - $861,000

  5. Conder, ACT - $880,000

  6. Fairy Meadow, NSW - $1.15 million

  7. Menai, NSW - $1.4 million

  8. Evatt, ACT - $905,000

  9. Stanmore, NSW - $2.15 million

  10. Corrimal, NSW - $1.15 million

  11. Amaroo, ACT - $915,000

  12. Freshwater, NSW - $3.25 million

  13. Kambah, ACT - $880,000

  14. Collaroy, NSW - $3.75 million

  15. Croydon Hills, VIC - $1.06 million

  16. Cromer, NSW - $2.35 million

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