An influx of investors and first-home buyers is driving heightened activity in Australia’s property market this spring, with PropTrack data showing a surge in enquiries across high-demand suburbs.
Karen Dellow (pictured above), PropTrack senior economist, said that the trend reflects increased confidence that “now is an ideal time to buy.”
Recent data from ABS revealed a 30% year-over-year increase in new home loan commitments from investors in September.
First-home buyers are also entering the market, with new loan commitments rising by 2%.
First-home buyers are targeting affordable suburbs, generally with median prices under $1 million, PropTrack data showed.
For houses, Melbourne’s western suburb of Tarneit leads in enquiries, offering a median house price of $650,000. Other popular Melbourne areas include Point Cook, Truganina, and Hoppers Crossing, while Queensland’s Greenbank also ranks highly.
In Sydney, Marsden Park, with a median price of $985,000, is the top choice for first-home buyers seeking affordability.
For unit buyers, 80% of the top suburbs are in Sydney, with Parramatta leading the list.
Sydney suburbs like Ryde and Campsie are popular for their proximity to the city and government incentives, which often favor unit purchases over houses.
Melbourne’s Southbank and CBD also attract first-home buyers seeking city access.
According to PropTrack, investors are largely focused on affordable suburbs under $1 million, often in outer areas.
Battery Hill on the Sunshine Coast, with a median price of $965,000, is currently the top choice.
In both Melbourne and Sydney, inner-city units are popular among investors for their rental potential and low maintenance, with hotspots including Sydney CBD and Melbourne’s CBD.
With national home prices hitting record highs, both buyers and investors are prioritising affordability.
The search for affordable properties often leads house buyers to outer suburbs, while those who prefer city proximity gravitate toward units in the CBD or nearby.
As spring continues, affordability and location remain key factors driving activity in Australia’s property market, Dellow said.
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