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Buyer Demand Builds in the Outer Suburbs

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Buyer demand has significantly jumped compared to last year across all capital cities aside from Melbourne.

The Domain buyer demand indicator shows that the market has rebounded in recent months—revealing the top suburbs piquing buyer interest.

Houses and apartments in the outer-suburban areas of Sydney, Melbourne, Brisbane and Perth, were the highest in demand for the month up to 6 September.

This follows a state of hiatus caused by caused by Covid which is ongoing in Victoria where restrictions have stopped inspections and dropped listings.

Domain senior research analyst Nicola Powell said they tracked people who were most likely to buy, indicated by shortlisting, sending inquiries, inspecting and frequently viewing photos.

“The current health crisis has changed the way we use our homes, and for some altered our purchasing decisions and property wish lists,” Powell said.

“And while Covid-19 lockdowns sent buyer demand into a state of hiatus, activity from people likely to buy has rebounded in all capital cities apart from Melbourne.”

Top greater Sydney suburbs

75 Comleroy Road, Kurrajong NSW 2758
▲ Properties in Hawkesbury proved popular for buyers in greater Sydney topping the list for houses as well as getting a mention in the biggest increase in demand since Covid started.

NSWHousesUnitsPost-Covid Demand
1. Hawkesbury demand increase since CovidRouse Hill-McGraths HillWollondilly (Houses)
2.Rouse Hill-McGraths HillPennant Hills-EppingRichmond-Windsor (Houses)
3.WollondillyMarrickville-Sydenham-PetershamCamden (Houses)
4.HornsbyEastern Suburbs-southGosford (Units)
5. Dural-Wisemans FerryWarringahHawkesbury (Houses)


Top greater Melbourne suburbs

64 Railway Place Macedon VIC 3440
▲ Houses in the Macedon Ranges sparked the attention of buyer in the Domain report despite the overall number of listing in greater Melbourne dropping significantly.
VICHousesUnitsPost-Covid Demand
1.Whitehorse-westMornington PeninsulaMacedon Ranges (Houses)
2.Macedon RangesCardiniaManningham-east (Houses)
3.Manningham-eastKnoxMornington Peninsula (Units)
4.Mornington PeninsulaMaroonahYarra Ranges (Houses)
5.Yarra RangesKingstonFrankston (Units)


Top south-east Queensland suburbs

24/44 Koombahla Drive Tallebudgera QLD 4228
▲The Gold Coast suburb of Tallebudgera continues to gain the attention of buyers during the Covid pandemic.
QLDHousesUnitsPost-Covid Demand
1.NambourBribie-BeachmereMudgeeraba-Tallebudgera (Houses)
2.NundahCoolangattaNoosa hinterland (Houses)
3.CarindaleRedcliffeGold Coast hinterland (Houses)
4.Surfers ParadiseIpswich innerNoosa (Units)
5.Mudgeeraba-TallebudgeraCleveland-StradbrokeNambour (Houses)


Meanwhile major gains have been made in national vacancy rates to pre-Covid levels with outer suburbs also showing the most improvements.

Residential property prices dropped by 1.8 per cent in the latest quarter according to the Australian Bureau of Statistics.

In Perth, Mundaring houses and Wanneroo units topped the list, Canberra’s Weston Creek was listed for houses and Gungahlin for units. Litchfield, Darwin topped the list in the Northern Territory for both houses and units.

Hobart was the only other city to record a fall in activity over the four week period to 6 September, along with Melbourne, where the most demand was seen for Sorrell-Dodges Ferry and Hobart.

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Article originally posted at: https://theurbandeveloper.com/articles/top-suburbs-for-buyer-demand-domain