Australia’s most in-demand suburbs are not the usual hotspots, reveals analysis by PropTrack.
Homebuyers are now shifting their searches to emerging areas that offer a more affordable lifestyle.
REA Group senior economist Paul Ryan analysed views per online listing to identify locations gaining popularity compared to last year.
The most sought-after suburb for houses is Viveash, about 16 kilometres east of Perth CBD, where demand has surged 163% from last year.
Following closely is Lochinvar in New South Wales, up 101%, and Cardup in Western Australia with an increase of 92%.
In Queensland, searches for Shoal Point are up 86%, while in South Australia, Crafers has seen a 55% rise. East Bairnsdale in Victoria has also gained traction, with a 43% increase in searches.
Ryan attributes this trend to a surge in new listings throughout the spring selling season.
“New listings rose 20.9% nationally in October month-on-month and are up 14% year-on-year,” he says.
He expects the property market’s momentum to carry into 2025, adding, “When interest rates start to fall, we’re likely to see even more buyers entering the market.”