Data reveals best 30 Australian suburbs for investors and buyers

PropTrack senior analyst Karen Dellow said that at a national level, there had been a 21% rise in listings from September to October, led by Melbourne, with a whopping 33% increase seeing its busy spring market click up another gear.

Adelaide was the next strongest with a 26% monthly increase, followed by Brisbane (15%) and Sydney (13%).

“October has proven to be a prime month for homebuyers, with new property listings reaching their highest level in over ten years, affording buyers more choice,” Ms Dellow said.

“Across the board, every capital city and regional market experienced a rise in new listings over the month (which) should help ease competition and allow buyers more time to make informed decisions.

Nationally, new listings were up 14% from this time last year, the data revealed.

Melbourne

“Buyers seeking a wealth of options should focus on Melbourne – Inner and Melbourne – West, where the highest volumes of new listings were concentrated in October,” Ms Dellow said.

“Melbourne’s South East, encompassing suburbs such as Caulfield, Carnegie and Bonbeach, experienced the largest month-on-month growth (at) 64%.

“Following closely was Melbourne – Outer East, covering areas like Ferntree Gully, Rowville and Healesville, where new listings were up by 47%.

Houses in the Melbourne suburb of Carnegie have seen some of the highest growth in recent times. Picture: realestate.com.au/buy

“Across metro Melbourne, house listings have seen the most substantial growth in new listings compared to the previous month, rising by 38%, compared to a 26% increase for units.

“In Melbourne – Inner South, areas including Brighton, Hampton and Bentleigh saw new house listings more than double in just one month, and Melbourne – Inner East witnessed a 56% increase.”

Unit listings in Melbourne – Inner South and Melbourne – Outer East, both grew by 39%.

Sydney

In Sydney, the most choice for buyers could be found in the North Sydney and Hornsby region, plus the inner south west, Ms Dellow said.

“In Sydney – Ryde, areas including Hunters Hill, Tennyson Point, and Cheltenham saw new house listings increase by 52% in just one month,” she said, while “Sydney – Northern Beaches witnessed a significant 44% increase.

Properties in the Sydney suburb of Freshwater are experiencing very high month-on-month growth. Picture: realestate.com.au/buy

“Northern Beaches suburbs such as Manly, Freshwater, and Mona Vale, experienced the largest month-on-month growth in new listings (at) 30%,” she said.

“Sydney – North Sydney and Hornsby, covering areas like Lane Cove, Cremorne, and Crows Nest (saw) listings up 29%.”

For units, North Sydney and Hornsby (20%) and Blacktown (18%), had the highest increases.

Adelaide

Adelaide – North had the highest volume of new listings in October, while at a suburb level, western suburbs such as Tennyson, Henley Beach, and Grange experienced the largest growth in new listings at 51%.

Across metro Adelaide, house listings rose by 35%, compared to just 7% for units.

Adelaide – West saw new house listings rise 58%, while the central and hills areas had a 36% increase.

Henley Beach is a beachside suburb 20km from the city centre in Adelaide which has seen significant growth in listings. Picture: realestate.com.au/buy

Unit listings in Adelaide – West grew 34%, while Adelaide – South had a 26% increase.

“Elevated interest rates and increased choice have contributed to a slowing in the pace of price growth in Adelaide compared to earlier in the year,” Ms Dellow said.

Brisbane

Brisbane buyers had the most options in the Brisbane Inner City and Logan – Beaudesert areas for October.

Moreton Bay – South suburbs Camp Mountain, Bunya, and Mango Hill, experienced the largest growth in new listings at 34%, followed by inner city neighbourhoods Brisbane Inner City, Bulimba, New Farm, and Red Hill, which were up 28%.

Houses and units saw similar monthly growth in Brisbane, at 16% and 15% respectively.

Bunya is a suburb in the City of Moreton Bay and has seen new listings jump 34%. Picture: realestate.com.au/buy

“This is not the case in other cities across the country, where more houses are on the market than units, compared to last month,” Ms Dellow said.

Inner city house listings rose 44% in one month, while Moreton Bay – South rose 36%.

Unit listings were highest in Brisbane – East (37%) and Brisbane – South (33%).

This article first appeared on realestate.com.au and has been republished with permission.