487 markets join million-dollar property club: CoreLogic
Australia’s property million-dollar club has continued to grow, as new research shows that more than one in five homes...
New data has shown the most in demand suburbs in Australia, as buyers look to capitalise on ongoing price declines.
According to a report from realestate.com.au, Allambie Heights, located on Sydney’s northern beaches, has topped the list as the most in demand suburb in Australia. It has a median price of $1.5 million for all dwelling types in the area.
Next up was another Sydney northern beaches suburb, Narraweena, which currently has a median price of $1.3 million, followed by Birchgrove, located in Sydney’s inner-west, recording a median price of $1.6 million.
Why are buyers flocking?
Commenting on the results, chief economist of realestate.com.au Nerida Conisbee said the two northern beaches suburbs that made the list are particularly sought-after by younger buyers.
“Allambie Heights and Narraweena are more affordable northern beaches suburbs,” Ms Conisbee said.
“If you look at somewhere like– where the median price is nearly $3 million – Allambie Heights and Narraweena aren’t that near the water, but they aren’t too far away, so comparatively they are more affordable.”