Montmorency in Victoria has seen the most growth in interest from buyers across Australia over the past year, according to realestate.com.au's Top Sellers' Markets.
The top ten list of Australian suburbs receiving the most attention per listing on realestate.com.au in the past three months and their rank last year are as follows:
March 2015 - May 2015
1. Freshwater (NSW)2. Unley (SA)3. Albert Park (VIC)4. Montmorency (VIC)5. Ringwood North (VIC)6. Willoughby (NSW)7. Carlton North (VIC)8. Thornleigh (NSW)9. Upwey (VIC)10. South Penrith (NSW)
ALSO SEE: International Property Fund Expands Portfolio Into Victoria
South Penrith comes in tenth spot highlighting that Sydney's west is also attractive to buyers. Completing the list is Unley, South Australia, in second spot.
Managing Director and CEO at Hocking Stuart Nigel O'Neil said Victoria's population is growing at a rapid rate which is influencing the property market.
"While low interest rates have ignited interest in property Australia wide, the Victorian market has experienced especially strong growth off the back of an increase in population, subsequent demand for housing and limited supply," Mr O'Neil said.
"This demand coupled with the fact that property in Melbourne is more attainable than in Sydney, and that Melbourne has exhibited moderate capital growth over the past decade, are key incentives for buyers in Victoria."[urbanRelatedPost][/urbanRelatedPost]"This data highlights that the most in-demand suburbs are split between tightly held inner city areas like Albert Park and Carlton North and 'tree-change' suburbs which are on the cusp of inner and outer Melbourne, such as Ringwood North, Montmorency and Upwey. The demand for the latter are rising in popularity as amenities like public transport, shopping and cafe culture have vastly improved - allowing buyers to have the best of country and city life," Mr O'Neil said.
realestate.com.au's General Manager of Sales and Operations Arthur Charlaftis says that if a suburb is receiving a consistent level of interest throughout the year, it's a good indicator where buyers are searching across Australia.
"realestate.com.au's Top Sellers' Markets provides information useful for those thinking of selling. A suburb receiving continued interest from buyers all year round highlights that seasonality should play less of a factor when it comes to selling," Mr Charlaftis said.
"There's a commonly held myth that you should avoid selling in winter if possible. While there is clearly a peak in new listings during autumn and spring, we also see a consistent level of listings being sold over June-August. So if you are thinking of selling in the next few months, don't be put off by the cooler weather."
