Where Buyers Are Desperate to Buy
With listings down, competition is becoming fierce, with more than 100 potential buyers competing for properties in some suburbs.
An analysis has been released of the list of the most popular markets for would-be home buyers throughout Australia. It is based on the number of “key inquiries” received for online listings, such as requesting documents from the agents, an inspection request or contacting the agent.
REA Group economist Angus Moore says high demand is the most intense in Australia’s more affordable markets.
The Sydney suburb of Werrington tops the list with 150 average inquiries, followed by St Marys with 144. Moore says much of the demand in those suburbs comes from investors, who are hoping to secure something ahead of major infrastructure works in the region.
The affordable theme continues in Queensland with Woodridge, which has a median house price of $674,000, achieving 111 inquiries, while Loganlea had 109.
In Melbourne’s northwest, Dallas, with a median house price of $551,000, is most popular with 87 potential buyers on average for listings.
Adelaide’s most in-demand suburb is Stirling, in the Central and Hills region, with 93 buyers competing for each listing.
