Buyer Demand Builds in the Outer Suburbs
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
| NSW | Houses | Units | Post-Covid Demand |
|---|---|---|---|
| 1. | Hawkesbury demand increase since Covid | Rouse Hill-McGraths Hill | Wollondilly (Houses) |
| 2. | Rouse Hill-McGraths Hill | Pennant Hills-Epping | Richmond-Windsor (Houses) |
| 3. | Wollondilly | Marrickville-Sydenham-Petersham | Camden (Houses) |
| 4. | Hornsby | Eastern Suburbs-south | Gosford (Units) |
| 5. | Dural-Wisemans Ferry | Warringah | Hawkesbury (Houses) |
Top greater Melbourne suburbs
| VIC | Houses | Units | Post-Covid Demand |
|---|---|---|---|
| 1. | Whitehorse-west | Mornington Peninsula | Macedon Ranges (Houses) |
| 2. | Macedon Ranges | Cardinia | Manningham-east (Houses) |
| 3. | Manningham-east | Knox | Mornington Peninsula (Units) |
| 4. | Mornington Peninsula | Maroonah | Yarra Ranges (Houses) |
| 5. | Yarra Ranges | Kingston | Frankston (Units) |
Top south-east Queensland suburbs
| QLD | Houses | Units | Post-Covid Demand |
|---|---|---|---|
| 1. | Nambour | Bribie-Beachmere | Mudgeeraba-Tallebudgera (Houses) |
| 2. | Nundah | Coolangatta | Noosa hinterland (Houses) |
| 3. | Carindale | Redcliffe | Gold Coast hinterland (Houses) |
| 4. | Surfers Paradise | Ipswich inner | Noosa (Units) |
| 5. | Mudgeeraba-Tallebudgera | Cleveland-Stradbroke | Nambour (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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