Tuesday, January 24, 2023
HomeMortgageAustralia’s first-home buyer hotspots revealed

Australia’s first-home buyer hotspots revealed


Despite the rising cost of living and an overall softening in the market, first-home buyer activity has remained steady in the second half of 2022, with Melbourne’s western and northern suburbs remaining the top Australian locations for FHBs, fresh NAB data has revealed.

“Value and location remain the two most important factors for first-home buyers when looking to purchase their first property,” said Andy Kerr, NAB executive homeownership. “Despite the overall market softening, first-home buyers are bucking the trend with sales staying stable nationally and growing in some of the hottest suburbs such as Schofields in NSW.”

NAB data from June-November showed that one in 10 FHBs in Victoria are choosing to buy in areas around Hoppers Crossing in Melbourne’s west or Craigieburn in the city’s north. Continuing to attract FHBs to Melbourne’s growth areas are the good amenities, new schools and parks, and a more relaxed, suburban lifestyle – that and the billions of dollars in recently completed road projects and ongoing transport upgrades.

In NSW, the most in-demand suburb for FHBs was Schofields in Sydney, which posted a 63% spike in quarter-on-quarter demand at the end of last year, driven by the completion of several new housing developments which were within the price thresholds for a number of state government assistance schemes, growing public transport options, and retail and education precincts and parks in a suburban environment.

Further north, Queensland’s top FHB suburbs were in the Garden City of Toowoomba, which Kerr said was “shaping up to be an exciting place to buy and live,” with its quick commute to Brisbane, schools, laidback lifestyle, spacious land sizes, as well as the billions of dollars of investment into the Inland Rail Link and a new Toowoomba Hospital.

“Outer metro growth areas like Tarneit in Melbourne, Hallett Cove, right near Adelaide’s southern beaches and suburbs south-east of Perth have great amenities, particularly for young families,” Kerr said. “Many of these areas are also attractive areas for investors and have high growth over the past five years as well as good rental yields. The popularity of these areas for first-home buyers remained strong throughout the second half of 2022 and we expect to see steady demand early this year, as first-home buyers look to areas representing the best value.”

Here are the top sales for FHBs by postcode over the past 6 months, according to NAB:

Victoria

  1. 3029 – Hoppers Crossing, Tarneit, Truganina
  2. 3064 – Craigieburn, Donnybrook, Kalkallo, Mickleham, Roxburgh Park
  3. 3978 – Cardinia, Clyde, Clyde North

New South Wales

  1. 2762 – Schofields
  2. 2765 – Berkshire Park, Box Hill, Maraylya, Marsden Park, Nelson, Oakville, Riverstone, Vineyard
  3. 2170 – Casula, Chipping Norton, Hammondville, Liverpool, Lurnea, Moorebank, Mount Pritchard, Prestons, Warwick Farm

Queensland

  1. 4350 – Toowoomba and surrounds
  2. 4207 – Beenleigh, Yarrabilba
  3. 4300 – Springfield Lakes, Goodna

Western Australia

  1. 6112 – Armadale, Harrisdale
  2. 6061 – Balga, Nollamara
  3. 6164 – Success, Cockburn Central

South Australia

  1. 5162 – Morphett Vale, Woodcroft
  2. 5158 – Hallett Cove, O’Halloran Hill
  3. 5251 – Mount Barker

Tasmania

  1. 7320 – Burnie, Acton, Camdale
  2. 7011 – Berriedale, Chigwell
  3. 7310 – Devonport, East Devonport

Australian Capital Territory

  1. 2602 – Dickson, Watson
  2. 2913 – Casey, Franklin
  3. 2617 – Bruce, Lawson

Northern Territory

  1. 0810 – Nightcliff, Casuarina
  2. 0870 – Alice Springs, Gillen
  3. 0832 – Rosebery, Bakewell

What do you think? We’d love to hear from you in the comments below. 

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
Google search engine

Most Popular

Recent Comments