A look at Australian areas which are hot favourites for homebuyers

1 min read

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Several studies and reports have indicated several areas in Australia which are hot favourites for homebuyers. Margate is a suburb in Tasmania which has become popular in recent times with prices increasing by a whopping 20% due to overwhelming demand. The same story is seen in suburbs like Willoughby and Hunters Hill in Sydney which are also growing rapidly in terms of pricing. There are several factors working to boost popularity of these suburbs including growth in employment, infrastructural development or announcements by the Government, increase in prices in neighbouring areas and development of better lifestyle amenities.

Warranwood is a popular suburb in Victoria since it has benefited from the huge popularity of the neighbouring zone Park Orchard. Prices are growing here since buyers seek homes at lower rates near a supremely popular zone. People who cannot buy in Park Orchard buy homes in Warranwood and the same domino effect is seen in case of several other Australian suburbs according to reports. North-eastern Melbourne corridors were also seeing a major rise in demand along with north-western Melbourne which is nearer to the airport. There is a new airport link on the anvil along with higher home sizes which are major draws for buyers here. Other popular Victorian suburbs include Warrandyte, The Basin, Mentone, Belmont, Eltham, Tullamarine and Ascot Vale.

For South Australia, there is a surge in popularity of Parra Hills West and this has benefited due to overall job growth in Adelaide and the growth in sectors like manufacturing. Areas which are popular here include Dernancourt, Vale Park, Brooklyn Park, Camden Park and Rosewater. For New South Wales, the Sydney suburbs mentioned above are hot favourites since prices are a wee bit competitive as compared to sky-high prices in Sydney. Other popular suburbs in New South Wales include North Gosford, Buxton, Glossodia, Mount Annan and Kariong.

Tasmania also has several popular and in-demand suburbs including Risdon Vale and Old Beach along with Moonah, Richmond, Blackmans Bay, Bellerive and Glenorchy. For the ACT, Dunlop, Griffith, Yarralumla, Franklin, Deakin and Watson are hot performing suburbs. For Queensland, the top suburbs are Mackenzie, Geebung, Seventeen Mile Rocks, Gailes and Ocean View. In Western Australia, the top suburbs for homebuyers are Mariginiup, Salter Point, West Swan, Helena Valley and Riverton while in the Northern Territory, the best performing suburbs are Anula, Jingili, Girraween, Stuart Park, McMinns Lagoon and Virginia.

Resident Editor