Top 10 suburbs where listings will surge, according to Westpac

Westpac has revealed which suburbs are likely to see a major uptick in sellers (Source: Getty)

A growing number of Aussies are looking to downsize which means some brand new listings will be hitting the market, according to Westpac research.

The report found homeowners are looking to downsize, with more than a quarter (26% per cent saying they will seek out a smaller property.

Westpac’s Managing Director of Mortgages Anthony Hughes said the findings could be promising news for buyers as property demand continues to surge.

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“Our research shows that while buying intentions have tapered slightly, demand still remains stronger than it did prior to the pandemic, reinforcing that the great Aussie dream of owning a home continues to remain a priority,” he said.

“In welcome news for buyers, the report also found more people are now thinking about selling.”

Here are the top 10 suburbs in each state and territory where Aussies are thinking of selling.

Top 10 suburbs likely to list in Sydney

“Properties further from the city boasting backyards and a more relaxed lifestyle remain top of mind for buyers,” Hughes said.

“And for the first time, more homeowners are telling us increased infrastructure and amenities in their desired area is also motivating them to sell, with public transport, local shops and parks ranking as the most desirable suburban features.”

Houses

1. Avalon Beach

2. Newport

3. Mona Vale

4. Warriewood

5. Palm Beach

6. The Ponds

7. St Ives

8. Paddington

9. Rozelle

10. Milperra

Apartments

1. St Ives

2. Avalon Beach

3. Dee Why

4. Mt Colah

5. Palm Beach

6. Newport

7. Wentworth Point

8. Silverwater

9. Brookvale

10. Collaroy

Top 10 suburbs likely to list in Melbourne

“While the report found houses are most in demand, units and apartments still remain a popular option,” Hughes said.

“Particularly among younger buyers who are more likely to seek the convenience and access to local cafes, restaurants, and bars, as well as downsizers who might be seeking a coastal lifestyle.”

Houses

1. Pakenham

2. Beaconsfield

3. Officer

4. Lynbrook / Lyndhurst

5. Cranbourne

6. Frankston North

7. Berwick

8. Carrum Downs

9. Williams Landing

10. Narre Warren

Apartments

1. Kilsyth

2. Mooroolbark

3. Brunswick East

4. Bentleigh

5. Altona North

6. Carrum Downs

7. Braybrook

8. Boronia

9. Rowville

10. Hampton Park

Top 10 suburbs likely to list in Adelaide

The report found seven in ten (71 per cent) first home buyers are seeking a house or townhouse and three in five (62 per cent) want a property with at least three bedrooms.

Houses

1. Warradale

2. Mawson Lakes

3. Seacombe Gardens

4. Davoren Park / Elizabeth

5. O’Sullivan Beach

6. Mitchell Park / Morphettville

7. Brighton

8. Plympton

9. Novar Gardens

10. Kurralta Park

Apartments

1. Mawson Lakes

2. Glenelg

3. Torrens Park / Kingswood

4. Port Adelaide

5. Croydon

6. Largs Bay

7. Seaton

8. Somerton Park

9. Brompton

10. Brighton

Top 10 suburbs likely to list in Brisbane

Despite a slight decrease recorded in the number of Australians planning to buy a first home, competition with other buyers remains a top challenge with 29 per cent citing a lack of listed options as a barrier to achieving home ownership – a sentiment that’s increased by 10 percentage points in the last three months.

Houses

1. North Lakes

2. Kooringal

3. Wakerley

4. Eatons Hill

5. Berrinba

6. Redland Bay

7. Murarrie

8. Clontarf / Margate

9. Thornlands

10. Bundamba

Apartments

1. Banyo

2. Mackenzie / Burbank

3. Northgate

4. Goodna / Springfield

5. Rochedale

6. Keperra

7. Redcliffe / Scarborough

8. Redland Bay

9. Bulimba

10. Carina / Carindale

Top 10 suburbs likely to list in Perth

Houses

1. Mosman Park

2. City Beach

3. Kinross / Currambine

4. Claremont

5. Nedlands

6. Floreat / Wembley

7. Cottesloe

8. Byford

9. East Fremantle

10. Beaconsfield

Apartments

1. Hamilton Hill / Spearwood

2. Palmyra

3. Scarborough

4. Victoria Park

5. Beaconsfield

6. Fremantle

7. North Fremantle

8. Melville / Attadale

9. Belmont

10. Booragoon

Hughes said this list of suburbs from around the country offers a diverse range og options for prospective buyers.

“Areas featured on the list offer a diverse range of living options for prospective buyers that also cater to the changing preferences we’ve seen since the start of the pandemic, including stronger demand for more space through a dedicated study or spare bedroom as many continue to work from home,” he said.

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