Australia’s most in-demand suburbs aren’t your usual suspects, as homebuyers shift their searches to emerging locations offering affordability and lifestyle.
New PropTrack analysis has shown demand has surged across many suburbs nationally in spite of higher interest rates and increased housing prices.
Almost 60% of suburbs nationally have had more views per listing on realestate.com.au compared to a year ago, revealing the latest levels of buyer demand across the country.
REA Group senior economist Paul Ryan said views per listing revealed the locations where buyers were increasingly looking compared to last year.
“Higher views per listing gives us an idea of how many active buyers are out there,” he said.
“Each view doesn’t necessarily translate into an active buyer, but it tends to be highly correlated, so those listings with lots of views tend to have lots of active buyers.
"Generally, the more views we have, the more active buyers we have.”
Australia’s most sought-after suburbs
The most in-demand suburb for houses was Viveash - about 16 kilometres east of the Perth CBD – where demand soared 163% higher than a year ago.
One of the drivers behind Viveash’s popularity has been the Rivermark new housing estate, where more than 650 homes will eventually be built on the iconic former Midland Brick site.
The Rivermark housing estate has attracted homebuyers to the Perth suburb of Viveash. Picture: realestate.com.au/buy
In Viveash, the median house price had increased 14.8% to $706,000 over the year to November.
Lochinvar and Raglan in New South Wales trailed Viveash, followed by Cardup in Western Australia and Shoal Point in Queensland.
Mr Ryan said the country's most sought-after suburbs highlighted the parts of the country that were performing strongly.
“WA is the number one market at the moment, while Queensland is in there as well,” he said.
“It also shows what buyers are looking for across the country, which is relative affordability.”
Homebuyers seek out value
The second most sought-after suburb in the country was Lochinvar - a village in the Hunter region of NSW.
The four-bedroom house at 22 Lilac Avenue in Lochinvar sold for $1.2 million last month. Picture: realestate.com.au/sold
Charlie Lund, real estate agent and principal at The Agency - Hunter Valley, said Lochinvar was popular with buyers looking for a place to raise their families.
“The area attracts a lot of families with children who are looking for their dream home,” Ms Lund said.
“It’s a great area for families because it has high quality homes and it’s close to shopping, schools and the expressway.
“The expressway can take you into Maitland or Newcastle, and Sydney as well.
“There are different estates to buy into in the area, so there is still value for money. There are higher end areas to buy in, and there are some affordable options too.”
Lochinvar’s median house price had grown 50.9% to $743,750 during the 12 months to November.
Unique properties steal the show
In other coveted suburbs, unique properties played a big part in driving up demand.
Mackay-based real estate agent and director at Harcourts MackTown Tina Sander said one of the reasons behind Shoal Point’s popularity was the recent sale of an entire island.
Little Green Island was sold for $5.6 million last month. Picture: realestate.com.au/sold
Ms Sander sold Little Green Island, which was located within the Shoal Point area, for $5.6 million last month.
The one-of-a-kind listing, located off the coast of Mackay, had been owned by American-British actor and producer Douglas Gresham, who was best known for his role in the production of The Chronicles of Narnia blockbuster films.
“We had huge amounts of enquiry for that listing, so it would definitely be one of the reasons why Shoal Point is on the list,” Ms Sander said.
“Shoal Point is an incredible beachside suburb too, it’s a stunning location for anyone who loves the ocean and it’s a 17-minute drive from Mackay.
The four-bedroom house at 2 Nerinda Place in Shoal Point fetched $860,000 in September. Picture: realestate.com.au/sold
“It’s a tightly held area with multiple schools for families and local boat ramps for those who love fishing and water activities.”
Momentum into 2025
The uptick in demand comes as new listings have surged throughout the spring selling season.
New listings were 20.9% higher nationally in October month-on-month, and 14% higher year-on-year.
Almost 60% of suburbs nationally have had more views per listing on realestate.com.au compared to a year ago. Picture: Getty
The surge in new listings may have dampened demand levels in some markets, with new listings giving homebuyers greater choice.
But Mr Ryan said the demand levels seen across the country were good news overall for the real estate market going forward.
“The property market has a lot of momentum going into 2025, so the big question is what happens when rates start to fall and my expectation is that it will bring even more buyers into the market,” Mr Ryan said.
“We're seeing home price growth moderate a little bit, and part of that is due to higher levels of stock on the market and affordability concerns.
“We may see some positive market conditions where prices aren't growing strongly, but there's lots of buyers and sellers in the market transacting.
“It can be really positive for buyers because you don't get this FOMO [fear of missing out] effect that can arise when prices are getting away from you, so some buyers will be able to take their time depending on their location.”
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