New housing data reveals Australia’s most in-demand areas

Forget about fancy Point Piper or Toorak — these are the humble areas Australian homebuyers are actually flocking to in droves.

New data has revealed the country’s most in-demand suburbs — and they’re probably not what you’d expect.

The team at realestate.com.au has crunched the numbers and found the up-and-coming areas to watch, based on the surge in demand demonstrated by views per listing over the past quarter.

“These are suburbs that have been relatively unpopular but which have become far more popular over the last quarter,” realestate.com.au chief economist Nerida Conisbee explained.

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Ms Conisbee said the suburb that had the highest jump last year was Margate in Tasmania, which simultaneously recorded a 20 per cent price growth in the same period — more than double the growth experienced in Hobart, which was already growing at a significant rate.

Realestate.com.au chief economist Nerida Conisbee said one reason for a suburb’s sudden popularity was the ‘bridesmaid effect’.

Ms Conisbee said several high-end Sydney suburbs including Hunters Hill and Willoughby had made the list for the first time this year — most likely due to the fact Sydney’s housing prices had dropped significantly over the past year.

However, most of the other suburbs on the list both in NSW and right around the country were in less-than-premium locations.

Ms Conisbee said other factors that could spark a sudden surge in a suburb’s popularity were government infrastructure announcements, jobs growth and a jump in prices in neighbouring suburbs, meaning savvy buyers were looking for a relative bargain close by.

VICTORIA

“What’s happening in Melbourne is very different to Sydney because most of the suburbs on the list are far more affordable. Keilor, for example, has a media price of $860,000, so it’s a very different dynamic,” Ms Conisbee said.

“Most of the suburbs on the list are in the northwest, which isn’t particularly the most desirable part of Melbourne but for whatever reason — probably a combination of affordability and people realising that area still has good access to the city with nice homes — interest is pushing into the area.”

Ms Conisbee said the popularity of Warranwood, for example, could be attributed to the fact neighbouring Park Orchard was enjoying a huge surge in popularity but also had higher prices. This meant nearby suburbs also experienced a lift in popularity due to the so-called “bridesmaid effect”, as they offered big homes on large blocks at more reasonable prices.

“Warranwood is a lovely suburb but it’s less expensive so people are moving there because they’ve been priced out of Park Orchard,” Ms Conisbee said.

She said the northeastern corridor of Melbourne was experiencing an overall boost along with the northwest close to the airport, probably due to the announcement of a new airport link and the size of houses in the area.

Belmont, Mentone, The Basin, Eltham, Warrandyte, Ascot Vale and Tullamarine were among other Victorian postcodes on the list.

With an asking price of $680,000-$740,000, this home in Warranwood, Victoria, is likely to be snapped up quickly. Picture: realestate.com.au

SOUTH AUSTRALIA

Ms Conisbee said Parra Hills West in South Australia was an interesting example as it proved Adelaide was experiencing a surge in both the higher and lower ends of the market.

“What seems to be happening is it seems to be the really affordable suburbs as well as the very expensive ones that are doing well — there is divergent behaviour,” she said.

“That could be because there has been jobs growth in Adelaide not just in highly paid, white-collar jobs but also in trades-type jobs such as manufacturing, which is supporting suburbs at the lower end.”

Brooklyn Park, Rosewater, Vale Park, Dernancourt and Camden Park were among South Australia’s biggest movers.

NSW

“There’s a couple of Sydney suburbs on the list — like Hunters Hill and Willoughby — which haven’t seen that kind of lift before and I think that’s due to the fact that Sydney’s pricing has come back quite a bit,” Ms Conisbee said.

“They are very expensive areas so with pricing a bit more reasonable now, as a result those areas are attracting more interest.”

In NSW, Buxton, Mount Annan, Glossodia, North Gosford and Kariong were among the other for affordable up-and-comers.

Properties like this one in North Gosford on the NSW Central Coast are in-demand. Picture: realestate.com.au

TASMANIA

Interestingly, there has also been a jump in popularity in Risdon Vale — an area that hosts a maximum-security prison.

Ms Conisbee said that showed just how hot the Hobart housing market had become.

“People are looking for bargains in Hobart but affordable options are few and far between now,” she said.

Bellerive, Moonah, Richmond, Old Beach, Blackmans Bay and Glenorchy were among Tasmania’s top performers, while in the ACT Yarralumla, Dunlop, Franklin, Griffith, Watson and Deakin were all enjoying solid growth.

In Queensland, areas such as Seventeen Mile Rocks, Geebung, Mackenzie, Ocean View and Gailes had recorded a significant boost compared to West Swan, Riverton, Salter Point, Mariginiup and Helena Valley in Western Australia and Jingili, Stuart Park, Anula, Girraween, Virginia and McMinns Lagoon in the Northern Territory.

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