Australia’s most sought after homes are no longer in the most exclusive neighbourhoods as buyers look to secure more bang for their buck. Aussie homebuyers are expanding their online searches to include suburbs that previously had been largely ignored, new data suggests. In the past quarter alone, a number of suburbs have seen a surge in demand based on online views, realestate.com.au analysts found.
Chief economist Nerida Conisbee told news.com.au almost every state in Australia had seen interesting spikes and plateaus.
In NSW, affluent suburbs Hunters Hill and Willoughby made the list for the first time, most likely due to the steady decrease in home prices within Sydney. But it was some of the more rural NSW suburbs that saw the most dramatic spikes.
Homes in North Gosford on the Central Coast also enjoyed an increase in online traffic. ‘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.
‘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.’
Other savvy investors often flock to suburbs near the areas that are currently peaking in the hopes of scoring a bargain. Belmont, The Basin, Ascot Vale and Tullamarine were also areas that did well in the most recent quarter. The suburb which received the most increased interest was in Margate in Tasmania. But Risdon Vales – home of a maximum security prison in the region – also enjoyed a significant increase in buyer interest.