Home Insights Suburbs where demand from buyers has surged

Suburbs where demand from buyers has surged

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Consistent interest rate hikes have reduced demand from potential buyers compared to the past two years. However, some suburbs are bucking this trend and attracting more interest.

Recent real estate market outlook report Data released by PropTrack shows a 2.5% drop in potential buyers nationwide by listing from December 2021 to December 2022.

The impact was more pronounced in regions with 9.9% fewer potential buyers per listing compared to the previous year.

The Tokyo metropolitan area has seen a year-on-year increase in potential buyers per listing, but the number remains lower than its peak in January 2021.

Rising servicing costs for mortgages have dampened demand from prospective buyers, but demand is still growing strongly in some areas.

Perth, Regional Washington, Adelaide and Regional SA homes all saw double-digit annual growth in potential buyers per listing from December 2021 to December 2022.

The Adelaide Suburbs – North saw a significant increase in potential buyers per listing.Photo: Getty

Rural Queensland also saw an increase in potential buyers.

More recent data from January show that this is also reflected at the suburban level for both houses and units.

Seven of the suburbs with the highest potential growth of homebuyers were in one of the aforementioned neighborhoods.

Located in North Adelaide and Emu Bay in Region SA, Hillier and Evanston South saw a more than 230% increase in potential buyers per listing in January 2023 compared to January 2022.

Homes listed in Bushmead, Perth, and Goondy Hill, near Cairns, are also growing in popularity among avid buyers.

In terms of units, 8 of the top 10 suburbs with the most popular listings among prospective buyers were located in areas with positive growth in potential buyers per listing .

Potential buyers per listing were in Broadwater, Washington and Hope Valley, north of Adelaide, with a staggering 267% and 202% growth respectively.

Listed properties in Maleny and Frenchville in rural Queensland were also 160% more sought after by enthusiastic buyers than a year ago.

These figures represent a shift in buyer focus compared to late 2021 and early 2022, when New South Wales, Victoria, Queensland and Tasmania were popular and saw record price increases. It shows that there was

In-depth insights from PropTrack’s team of experts:

With mortgage repayment costs skyrocketing, potential buyers appear to be seriously eyeing pockets in South Australia, Western Australia and Queensland, where house prices are lower than the national median.

Housing is expected to continue to be popular in more affordable states as interest rates rise further.

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