Top 20 suburbs homeowners don't want to leave

Sydney's Kirribilli had one of the longest hold rates for property owners, PropTrack found. (Source: Getty)

Australia’s most tightly held suburbs have been revealed, with some homeowners holding onto their property for more than 20 years.

New data from PropTrack found Clarinda in Greater Melbourne had the longest hold time for houses, at 24.4 years, on average. This is more than double the average hold time of 11 years for properties across the country.

Homeowners are also reluctant to leave Vermont South in Greater Melbourne, which had the second-longest hold period for houses at 22.5 years. This was followed by Arncliffe in Greater Sydney, with an average hold time of 21.20 years.

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The majority of other suburbs that made the list were also located in Greater Melbourne and Greater Sydney.

PropTrack economist Anne Flaherty said part of the reason for this was because Melbourne and Sydney were Australia’s two biggest cities and a lot of the suburbs tended to be well-established.

“Another reason could also be that property prices are so much higher in Sydney and Melbourne, which means people have more of an incentive to stay in their home for a longer period,” Flaherty told Yahoo Finance.

Aussie suburbs with the longest hold periods

Houses:

1. Clarinda VIC 3169, Greater Melbourne - 24.40 years

2. Vermont South VIC 3133, Greater Melbourne - 22.25 years

3. Arncliffe NSW 2205, Greater Sydney - 21.20 years

4. Monterey NSW 2217, Greater Sydney - 20.46 years

5. Springvale South VIC 3172, Greater Melbourne - 20.43 years

6. Allambie Heights NSW 2100, Greater Sydney - 20.16 years

7. Watsonia North VIC 3087, Greater Melbourne - 20.12 years

8. Collaroy NSW 2097, Greater Sydney -19.82 years

9. St Johns Park NSW 2176, Greater Sydney - 19.73 years

10. Mont Albert VIC 3127, Greater Melbourne - 19.61 years

Units:

1. Carlton North VIC 3054, Greater Melbourne - 20.68 years

2. Cremorne Point NSW 2090, Greater Sydney - 17.20 years

3. Kirribilli NSW 2061, Greater Sydney - 16.14 years

4. Narwee NSW 2209, Greater Sydney - 15.88 years

5. Eastlakes NSW 2018, Greater Sydney - 15.86 years

6. Minyama QLD 4575, Rest of Qld -15.71 years

7. Shelley WA 6148, Greater Perth - 15.68 years

8. Canley Vale NSW 2166, Greater Sydney - 15.40 years

9. Kalamunda WA 6076, Greater Perth - 15.37 years

10. Monterey NSW 2217, Greater Sydney - 15.17 years

Connectivity and lifestyle appeal

Flaherty said most of the suburbs were located in the middle and outer suburban rings and tended to be less than a one-hour commute from the CBD.

“They strike the balance between still having pretty good connectivity while, at the same time, a lot of these suburbs have really good lifestyle appeal, whether that be parks or waterside living,” Flaherty said.

The suburbs also appeal to a broad range of property seekers, ranging from young families looking for schools, to retirees.

“It is covering a broad range of people and I think that is why we are seeing people hold onto their homes for longer in these particular areas because when people transition from one stage of life into another, the area is still suiting their needs,” she said.

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