Newtown is named the most in demand suburb in NSW

Buyers are swapping the beach for hipster life, with new data revealing that Newtown is now the most in-demand suburb in Sydney for property hunters.

Newtown is the most in-demand suburb in NSW, according to new REA data. Picture: Timothy Clapin.

The inner west property market continues to grow in popularity, with new data revealing Newtown is the most in-demand suburb in NSW.

Newtown knocks off a carousel of northern beaches suburbs including Freshwater, Narraweena and Dee Why who have recently dominated the list.

REA’s data examines the most searched suburbs on realestate.com.au across the state.

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It comes at the same time as the inner west is the only Sydney region to see positive growth, with its median sale price up 0.1 per cent, according to REA’s May home value index.

Rose Trimarchi is one buyer who loves Newtown, having just purchased an apartment. Picture: AAP Image/Flavio Brancaleone.

REA chief economist Nerida Conisbee said it is an incredible result, given the data was collected before the Federal election and a cut in interest rates.

“To see a recovery so early means that the increase will likely be higher next time in June,” she said.

Ms Conisbee said it’s not surprising Newtown is popular with buyers at the moment.

“The data shows there is a shift from buyers who are trading the eastern suburbs and northern beaches for the inner west,” she said.

No. 21 Wilson St in Newtown just sold for $590,000 above reserve. Picture: David Swift.

“The popularity of Newtown probably reflects the confidence younger buyers have in market, given the suburb is popular with that demographic.”

Rose Trimarchi is a recent Newtown buyer and said it was a no-brainer to purchase in the suburb.

“Newtown speaks for itself. Everyone knows what it stands for and I love how no matter who you are, you’ll always fit in,” she said.

Newtown is known for many things including street art. Picture: AAP Image/Jeremy Piper.

The northern beaches has dominated the list until now. Picture: AAP Image/Rafal Kontrym.

Ms Trimarchi said she loved not only its closeness to the CBD, but also the great bus and train options.

Local real estate Adrian Tsavalas of McGrath Newtown, said that whenever he has a listing in Newtown it always gets traction online and at open homes, especially at the moment with many buyers looking again after being priced out for the past two years.

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Originally published as Newtown is named the most in demand suburb in NSW