Demand Rises, Notably In Smaller Cities

Posted on 12/07/2018  
Demand Rises, Notably In Smaller Cities

Demand for properties nationwide has risen over the year, according to research from realestate.com.au.

The Property Outlook report for 2018 shows that demand for all properties, including rental properties, had risen 5.2% over the year, with houses showing the highest level of interest (up 7.8%).

Not all cities experienced increases in demand, with Sydney and Melbourne being notable exceptions to the national trend. Demand in the Sydney market fell 22%, according to realestate.com.au. Weaker conditions were also found in Melbourne, where demand for properties fell 6.1%.

On the flip side, demand in Hobart increased 39%, led by apartments (up 53%).

Brisbane saw the largest increase in offshore property seekers, making demand rise 5.9% with strong growth for both apartments and houses.

Adelaide houses remained in strong demand with a 4.6% rise, but apartments were on the wane with a drop of 2.2%, making the average overall a 2.7% rise.

Darwin is pulling itself out of a market slump and saw a rise in demand of 4.7%, with houses (up 6.9%) most popular. Perth also is recovering, with demand from buyers up 6.4%.

Canberra also saw large increases over the year, with a 16.2% rise in demand, with houses and apartments almost on par.

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