Property searches have surged in several key capital city suburbs, revealing the locations that buyers are increasingly targeting where rising demand could cause prices to take off, according to realestate.com.au.
realestate.com.au’s latest data revealed a notable surge in property searches, particularly in suburbs across Perth, indicating a potential price increase due to heightened demand.
“Looking at where people are searching to buy provides a lead indicator on the suburbs poised for growth,” said Anne Flaherty, an economist at PropTrack, adding that a rise in searches not only signifies an increase in demand but also predicts more competition for available properties, potentially driving up prices.
Several factors contributed to this trend, including high property prices pushing buyers towards more affordable areas and strong population growth.
Western Australia, experiencing the strongest population growth in the country during the 2023 financial year, has seen 18 of the top 20 suburbs nationally for search growth.
But while search activity soared in Perth and east coast capitals, it grew less in suburbs of Adelaide, Hobart, Darwin, and Canberra.
In Perth, the suburbs witnessing the most significant increases in searches are mostly located in the city’s northwest, such as Balcatta, Tuart Hill, and Padbury. These areas offer good connectivity and value, making them especially attractive to buyers.
“These areas are great for rental properties, but there’s nothing to rent so prices are going up,” said Paul Holdsworth, director of Holdsworth Real Estate. “That in turn pushes house prices up because tenants are then looking to buy. Rents going up also makes these areas attractive for investors.”
In Sydney, affordability challenges have shifted buyer interest towards the city’s west, with suburbs like Fairfield, Campbelltown, and Blacktown seeing the most significant jumps in searches.
Melbourne’s north, with suburbs like Coburg North and Pascoe Vale, is attracting younger buyers looking for community vibes and affordable housing options. This shift is reflective of broader market trends, where buyers are seeking value and connectivity over proximity to city centers.
Brisbane's inner north, including Alderley and Lutwyche, has seen a surge in searches, particularly from first-home buyers and young families.
“One side gets really good spinoff from buyers who can’t afford Wilston, Windsor, and Grange,” said Janine McDonald of Ray White Alderley. “The other side gets really good spinoff from people who can’t afford Ashgrove, Paddington and Bardon.”
McDonald highlighted that Alderley and similar Brisbane inner north suburbs are sought after mainly for their city proximity and more affordable entry prices.
Visit the realestate.com.au website for the full report.
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