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Posted: 2024-03-27 01:23:07

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.

While high property prices have pushed buyers towards affordable areas, strong population growth has also influenced the suburbs where searches rose the most, with increased interest in well-connected pockets offering good value.

Data from realestate.com.au shows the number of property searches in some sought-after suburbs has risen more than 40% over the past year.

PropTrack economist Anne Flaherty said suburbs where searches had risen were experiencing increased demand from homebuyers, which could cause prices to rise.

“Looking at where people are searching to buy provides a lead indicator on the suburbs poised for growth,” she said.

“A rise in searches in a suburb indicates a rise in demand, and more competition for those properties that hit the market.”

The suburbs with the biggest increases in searches were mostly in Perth, with the number of searches rising by more than 40% over the past 12 months in some suburbs.

This was double the rate of search growth in the top Sydney, Melbourne and Brisbane suburbs.

Balcatta in Perth's north was the suburb where property searches increased the most in the past year, rising 42%. This four-bedroom Balcatta home is on the market now. Picture: realestate.com.au/buy


Many of the areas where searches jumped had experienced stronger rates of population growth recently, Ms Flaherty said.

“Western Australia experienced the strongest population growth in Australia over the 2023 financial year,” she said. 

“This has likely contributed to 18 of the top 20 suburbs nationally for search growth being found in the state.”

But while searches surged in many suburbs of Perth and the east coast capitals, fewer suburbs in Adelaide, Hobart, Darwin and Canberra had big increases in searches.

Population growth fuels WA homebuyer activity

With Perth’s rising population increasing demand for homes, the limited number of properties on the market has caused increased competition for both buyers and renters, further fuelling the price growth.

The suburbs where searches increased the most over the past year were mostly inner suburbs of Perth’s northwest, including Balcatta (42%), Tuart Hill (41.2%) and Padbury (38.7%).

These suburbs have good connectivity to transport lines, the CBD and the coast, and with prices that are still within reach for many buyers, offer good value for money in what is the most expensive region of the city.

Perth suburbs where property searches increased the most

Source: PropTrack. Suburbs ranked by % increase in property searches from February 2023 to February 2024. Median values only included for suburbs with a minimum of 200 properties with medium / high confidence AVM values.
SuburbStateYoY increase in searchesMedian house valueMedian unit value
BalcattaWA42%$737,000$500,000
Tuart HillWA41.2%$683,000$447,000
PadburyWA38.7%$768,000N/A
ChurchlandsWA34.4%$1,725,000$462,000
YokineWA33.5%$800,000$445,000
InnalooWA32.4%$749,000$629,000
KallarooWA32%$905,000N/A
MaylandsWA31.2%$842,000$408,000
Shenton ParkWA31.2%$1,616,000$521,000
GreenwoodWA29.5%$732,000NA

Holdsworth Real Estate director Paul Holdsworth said Perth’s tight rental market was driving increased buyer activity, particularly in well-located suburbs near the city.

“These areas are great for rental properties, but there's nothing to rent so prices are going up,” he said.

“That in turn pushes house prices up because tenants are then looking to buy."

“Rents going up also makes these areas attractive for investors.”


Waves of interstate investors have targeted Perth's market recently, with rapid price growth and tight rental markets prompting increased search activity and further increasing competition for homes.

While the suburbs where searches rose most aren’t the priciest suburbs in the city, most of the top 10 suburbs where searches increased the most have median house values that are higher than that of Perth.

This house in Shenton Park, where the number of property searches jumped 31% over the past year, sold recently for $2.22 million. Picture: realestate.com.au/sold


Only two of the top 10 suburbs for search growth, Churchlands and Shenton Park, have median house prices above $1 million.

Challenged affordability pushes Sydney buyers west

The suburbs with the biggest jumps in searches in Sydney were mostly affordable hubs in the city’s west, with high interest rates and record high property prices causing increased interest in well-connected areas where homes are cheaper.

Fairfield had the biggest jump in searches, rising 18% year on year, followed by Campbelltown (17%), Blacktown (16%), Merrylands (16%) and Lidcombe (15%).

Sydney suburbs where property searches increased the most

Source: PropTrack. Suburbs ranked by % increase in property searches February 2023 to February 2024. Median values only included for suburbs with a minimum of 200 properties with medium / high confidence AVM values.
SuburbStateYoY increase in searchesMedian house valueMedian unit value
FairfieldNSW18%$950,000$440,000
CampbelltownNSW17%$809,000$510,000
BlacktownNSW16.1%$943,000$574,000
MerrylandsNSW16.1%$1,113,000$481,000
LidcombeNSW15.1%$1,478,000$736,000
Five DockNSW13.8%$2,392,000$1,043,000
Box HillNSW13.4%$1,169,000NA
PenrithNSW13.2%$854,000$570,000
Seven HillsNSW12.9%$1,031,000$709,000
LiverpoolNSW12.5%$954,000$483,000

Of the top 10 suburbs with the biggest increase in searches, half had a median house price below $1 million and only one, Five Dock, had a house price above $2 million.

Median unit prices in most of these suburbs were around the $500,000 mark.

Units in Fairfield can still be purchased for less than $350,000. A one-bedroom apartment in this building is on the market for $319,000. Picture: realestate.com.au/buy


All of these suburbs have train stations, except Box Hill which has several stations nearby, and Five Dock, where a metro station is still under construction. 

Several are major hubs, suggesting that while challenged affordability has pushed people further from the city, buyers are still prioritising convenience.

Hundreds of new and relatively affordable apartments have been built in Liverpool recently, supporting population growth in the southwestern Sydney hub. Picture: Getty


Connectivity played a big part in determining where buyers chose to live, Ms Flaherty said.

“Properties in suburbs with good road and rail networks tend to experience stronger population and price growth,” she said. 

“A report authored by CBRE in partnership with REA Group found that in Sydney, for example, population growth along rail lines was nearly twice the level of suburbs further out.”

“The report also found that the capital growth of apartments in suburbs along Sydney’s metro line outpaced suburbs further out by 5%.”

A new metro station is planned for Five Dock in Sydney's inner west, where a two-bedroom apartment in this unit block is on the market now. Picture: realestate.com.au/buy


Starr Partners director Daniel Starr said affordability had become a priority for borrowers faced with rising costs, but both first-home buyers and investors were becoming eager to purchase before potential interest cuts pushed prices higher.

“We’re finding there's a lot more people going down in price because the interest rate hikes have been so steep," he said.


Buyers were drawn to Merrylands, where apartments were affordable and houses offered good value for money, because it was close to Parramatta but had cheaper homes, he said.

“There’s a lot of new developments in Merrylands, and a lot of communities with roots here already," he said.

Melbourne buyers head north seeking value

Searches for properties in Melbourne's north have ramped up, with younger buyers increasingly looking further afield for suburbs with affordable homes and a community vibe.

Coburg North had the biggest increase in searches (19.2%) followed by Pascoe Vale (19%) and Glenroy (18.5%).

Melbourne suburbs where property searches increased the most

Source: PropTrack. Suburbs ranked by % increase in property searches from February 2023 to February 2024. Median values only included for suburbs with a minimum of 200 properties with medium / high confidence AVM values.
SuburbStateYoY increase in searchesMedian house valueMedian unit value
Coburg NorthVIC19.2%$971,000$652,000
Pascoe ValeVIC19%$1,012,000$635,000
GlenroyVIC18.5%$635,000$562,000
WollertVIC17.6%$694,000$487,000
WatsoniaVIC17.4%$907,000$707,000
RosannaVIC14.7%$1,262,000$804,000
ReservoirVIC13.9%$883,000$610,000
MacleodVIC13.6%$1,064,000$742,000
Brunswick WestVIC13.5%$1,271,000$491,000
Moonee PondsVIC12.7%$1,380,000$525,000

While most of the suburbs where searches jumped were more than 10km from the CBD, a few inner suburbs like Brunswick West (13.5%) and Moonee Ponds (12.7%) made the top 10.

Property searches jumped 12% in Moonee Ponds, where this three-bedroom period home is going to auction with a $1.65-$1.725 million price guide. Picture: realestate.com.au/buy


Melbourne’s northern suburbs appealed to young people seeking homes in lively areas or in neighbouring suburbs where homes are more affordable, Ms Flaherty said

“Population growth and gentrification are key factors here, as more millennials and Gen Zs are increasingly being drawn to the ‘trendy’ inner north,” she said.

Nelson Alexander Coburg principal Damian Ponte said suburbs further north from the CBD tended to attract more buyers when prices started rising.


"Coburg North is a great suburb that sometimes flies under the radar for some buyers," he said. "It's gentrified over the years, and now young families are taking over the community."

"When the market improves, people are forced to push that little bit further north."

Reservoir is Melbourne's largest suburb with a wide variety of properties for sale, with older brick and weatherboard freestanding houses sitting alongside new builds like this four-bedroom semi-detached home. Picture: realestate.com.au/buy


Ray White Preston director Ian Dempsey said more buyers were broadening their search further north to suburbs like Reservoir and Preston.

“There’s a big turnover in Reservoir so there’s always a lot of stock,” he said.

"It's quite up and coming. We’re getting really good cafes and breweries opening up, and more first-home buyers and second-home buyers are looking to move into that area.”

“The infrastructure is pretty good too, and there’s good primary schools and lots of lovely quiet pockets.”

First-home buyers and young families target Brisbane's inner north

The Brisbane suburbs where searches surged are clustered in the inner north, including Alderley (21.9%) and Lutwyche (21.1%).

A few suburbs further north such as Morayfield (20.3%) and Caboolture (15.8%) had big increases in interest, while searches also jumped in some eastern suburbs like Cannon Hill (16.9%) and Tingalpa (15.7%).

Brisbane suburbs where property searches increased the most

Source: PropTrack. Suburbs ranked by % increase in property searches from February 2023 to February 2024. Median values only included for suburbs with a minimum of 200 properties with medium / high confidence AVM values.
SuburbStateYoY increase in searchesMedian house valueMedian unit value
AlderleyQLD21.9%$1,283,000$607,000
LutwycheQLD21.1%$1,204,000$582,000
MorayfieldQLD20.3%$607,000$476,000
EnoggeraQLD19.5%$1,151,000$572,000
Albany CreekQLD17%$960,000$631,000
Cannon HillQLD16.9%$1,214,000$597,000
MitcheltonQLD16.9%$1,015,000$580,000
StaffordQLD15.9%$1,012,000$530,000
CabooltureQLD15.8%$619,000$383,000
TingalpaQLD15.7%$920,000$617,000

Real estate agent Janine McDonald of Ray White Alderley said first-home buyers and young families were targeting Alderley as it was more affordable than surrounding areas.

"One side gets really good spinoff from buyers who can’t afford Wilston, Windsor and Grange," she said. "The other side gets really good spinoff from people who can’t afford Ashgrove, Paddington and Bardon."


Six out of the top 10 suburbs with the highest search growth had median house values above $1 million, while units mostly ranged between $500,000 and $650,000.

Proximity to the city was the main reason suburbs in Brisbane's inner north such as Alderley were highly desirable, Ms McDonald said, especially those with more affordable entry prices.

“The north side of Brisbane has generally always been more expensive than the south," she said. "For a very long time the north was more desirable and that has stuck around.”

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