Australia’s most popular suburbs revealed
These are Australia's hottest suburbs right now - the locations prospective buyers are scrambling to view property in, and in turn super eager to purchase in.
As the recovery of the property market continues to gather momentum, early cycle indications are that these suburbs will likely enjoy significant, leading growth over the next year or two, perhaps even longer.
If you have a home in these areas and are thinking of selling, now could be the perfect time, as supply significantly outstrips demand and pushes prices skyward.
If you are a buyer - whether a first-home buyer, a family looking to upside, downsizers or even an investor - you're in for some competition. Do your research, get your loan situation organised and get ready to pounce.
Based on data provided by Australia's leading property website, realestate.com.au, the suburbs below are the most popular across the nation for the 12 months ending January 31. The rankings are based on average views per listing for all properties and are further broken down into our most popular suburbs for those looking for houses and those seeking apartments.
North Narrabeen leads the way for all properties, which illustrates its popularity for both house and unit buyers with 8,906 views per listing. However the northern beaches Sydney suburb does not feature on the top 10 list of houses or units.
Sydney inner city fave Newtown holds the honour of the most popular suburb for house buyers. Its average view per listing is a whopping 12,105 over the 12-month period.
The upturn in the market is reflected in these figures which indicate many of these top suburbs have enjoyed an incredible three-fold increase in interest on the same period ending January 31, 2019.
National Head of Sales and Chief Auctioneer at The Agency, Thomas McGlynn said many of the suburbs share similar lifestyle characteristics that are in high demand right now.
"Those suburbs share a lot of commonalities," he said.
"For one they are either close to lifestyle hubs or water. When it comes to that nesting time for families, which traditionally drives a lot of property purchases they also want good schooling belts. These are also popular suburbs, they are Instagrammable suburbs, with good architecture, that drives a high level of interest."
As property prices in more exclusive suburbs have leapt ahead of the market - prices in Sydney's eastern suburbs blue chip locale of Vaucluse have jumped as much as 20 per cent in the last year - buyers are looking for better value.
"In these areas, the middle income demographic buying there, prior to the federal election (last year) a lot of these areas were hit quite hard. There was a lot of pressure on that middle price band. People stopped buying because of the banking royal commission. Now they are coming back with a vengeance.
"Some of these suburbs can come out of nowhere because people are looking for value and for suburbs where they are going to get a similar lifestyle to their more salubrious cousins but at half the price."
Sales agent Charles Bailey of Urbane Property in Sydney's inner west has seen the impact of these statistics on the ground.
"The numbers are huge," he said.
"In the first two days of 142 Denison St (Newtown) being on the market we had over 100 emails. We are getting a lot of people through the properties too.
"People are discovering Newtown like they did with Paddington, Surry Hills …
"They are coming from there to here because it has everything they want: infrastructure, lifestyle options, accessible transport, parks, cafes, entertainment, so much variety. They see it as a great option and it is cheaper (than other suburbs that offer the same).
Mr Bailey said he is seeing all types of buyers.
"There are lots of first-home buyers, downsizers, families, people coming from the suburbs. It's a great option because everything is so convenient. They love the traditional homes here as well. They like the period features, they are good, solid homes and they retain their value. Some modern homes can look very tired, very quickly."
Why is there potential for good growth?
Chief Economist at REA Group Nerida Conisbee, who helped compile the data, says it "will show possible suburbs and areas of price growth because of high search there".
"High views per listing can lead to greater demand, supply might be less and that can force up prices," she said.
"Units are the secondary (buying) option for most people, but as there is such high demand for houses, such as in Newtown, that demand will likely flow through to unit demand."
Ms Conisbee said areas such as Melbourne's Watsonia offer plenty for families.
"They are on big blocks of land, but also well connected to public transport, close to retail outlets and good schools, all for a price the average person would feel is obtainable."
The top 10 lists are dominated by suburbs in Sydney and Melbourne, with Hobart also featuring.
"You have to understand, in many ways there are the Sydney and Melbourne markets and then there is the rest of Australia," Mr McGlynn said.
He said the "wilderness lifestyle" and the strong growth Hobart has continually enjoyed, is attractive to retirees wanting to move there and also to those looking for a holiday home that could also double as an investment. As rental yields are also good there.
According to First National Real Estate boss Ray Ellis, our most popular suburbs promise the likelihood of fulfilling the Great Australian Dream.
"We are laid back but we want to be connected to the rest of the world," he said.
"You can walk to the shops, there is good access to water or other activities and public transport.
"There is also that local community feel that Aussies yearn for."
The fact that interest rates are likely to remain very low for possibly the next decade, has allowed Australians to commit to their long-term property dreams now.
"It's about lifestyle choices," Mr Ellis said.
"The B-line bus service has made Sydney's northern beaches more accessible and it's the same with Kings Langley.
"When you look at the number of inquiries for houses it is often double that of units, that reflects the fact that units have been in the media for the wrong reasons for the last 12-18 months. There has been the issues with Opal and Mascot Towers in Sydney and cladding issues in Melbourne. There are also the hidden costs of the body corporate and thoughts of oversupply. And most Australians see apartments as the stepping stone on the way to owning a house."
So, is now the time to sell?
"If you are an investor and you believe you have made good capital growth and good returns, it could be the perfect time to sell," Mr Ellis said.
"However for homeowners different factors, personal factors come into that decision."
Sebastian James of buyers agency Hunter James said single level homes under $2 million were what his clients were wanting to buy most.
"Affordability is a key driver," he said.
"Both owner occupiers and investors want low risk blue chip suburbs that are close to amenities and close to the city. Established houses are also a priority.
"The migration from places like the eastern suburbs of Sydney is unbelievable.
"People are attracted to the gentrification of some of these areas, for first-home buyers it is trendy to live there.
"The tide has well and truly turned. Buyers need to be decisive and they need to understand many of the (quoted) prices or comparables might be based on the more subdued markets of 2019.
"Things have changed completely, last year it was refreshing at least going to opens and you were able to see the house properly because there were not that many interested buyers. Now you might have to queue up just to get inside. In some cases, we are seeing prices going for 20 to 30 per cent more than what is quoted. It's incredible."
The average media house price in Newtown, according to REA, is $1.343 million. In South Melbourne it is $1.255 million, in Hornsby it is $1.12 million and in Albert Park is $1.99 million.
The average median unit price in Collaroy is $870,000, in Mitcham it is $955,250 and in Sandy Bay it is $928,000.
Originally published as Australia's most popular suburbs revealed