The global pandemic has impacted almost all aspects of life, including where Australians want to (and are able to) live. The list of popular suburbs for Australian homebuyers is shifting quickly, and estimations around future value growth are reflecting that.
Back in 2020, realestate.com.au found that there was a “clear shift toward interest in regional areas opposed to city suburbs,” but two years on, where do people’s preferences lie?
Seemingly, data from both realestate.com.au and mortgage lender Well Home Loans indicate that areas outside major cities are continuing to see homebuyer interest in 2022. Here’s what their recent findings show.
The most popular Australian suburbs for homebuyers
In early February 2022, realestate.com.au stated that searches for homes in Sydney and Melbourne are expected to be “among the weakest of Australia’s capital cities at 4-7%”. This comes as a result of the ridiculously high median property prices in these cities, along with slowed overseas migration levels, the real estate company shared.
With that considered, it’s hardly surprising to see that more rural areas have seen interest, and value growth. Additionally, realestate.com.au pointed out that out of all areas in Australia, Hobart appears to be the most popular state for homebuyers with a “forecasted growth of 9-12% in 2022”.
This boils down to lower impact from the pandemic, and more investment opportunities, the real estate company highlighted.
In any case, if you’re keen to see a clearer breakdown of popular Australian suburbs in 2022, here’s what we’ve found.
Popular suburbs to watch Australia-wide
- Aldgate, SA
- Unley, SA
- Malvern, SA
- Warrandyte, VIC
- Eden Hills, SA
- Park Orchards, VIC
- Lower Plenty, VIC
- Burraneer, NSW
- Abbotsbury, NSW
- Belair, SA
New South Wales
Kirrawee in the Sutherland Shire is seemingly another area to watch in NSW. The popular suburb reportedly jumped 7% in median asking price over the past three months, according to Well Home Loans – using data from property research tool Suburbtrends.
Victoria
Hallam, Wyndham Vale, Burwood and Eynesbury are all listed as popular suburbs seeing growth in Victoria by Well Home Loans. Burwood in particular has seen a 4.7% median asking price jump in the last three months, its data states.
Queensland
Mango Hill, Newtown, Bohle Plains and Collingwood Park came up top for Queensland, Well Home Loans shares. As an example, Mango Hill is said to have jumped 5.6% in median asking price in the last three months.
South Australia
Folks in South Australia may find areas like West Lakes, Whyalla Norrie, Evanston Gardens and Mount Barker trending upwards in popularity for 2022. Well Home Loans has stated West Lakes saw median asking prices increase by 10.2% in the last three months.
Western Australia
Over in WA, Broome, Leda, Djugun, Jurien Bay appear to be leading the pack for 2022. Broome, over in the Kimberley region, is reported to have jumped up by 7.1% in median asking price in three months.
Tasmania
Well Home Loans highlighted Devonport as a stand out in Tasmania, with the suburb seeing median asking prices increase by 6.3% in recent months.
ACT
Anyone looking to purchase in one of the ACT’s most popular suburbs may find Belconnen a worthwhile look. Over the past three months it’s said to have increased slightly in value by 1.1%.
Clearly, Australians are quite literally searching greener pastures in the wake of COVID-19. It makes you wonder whether condensed inner-city living, working from home arrangements or the wear and tear of lockdown has people wanting to expand their horizons.
This article has been updated since its original publish date.
Leave a Reply
You must be logged in to post a comment.