The 10 locations across the country with the most favourable conditions for buyers have been uncovered in a new report – with nine of the top 10 hailing from one state.
Realestate.com.au’s Buyers’ Markets says there is “no better time” to start looking in the locations listed in its report.
It used supply and demand (based on property searches and available listings), days on market and ‘price difference’ – calculated by taking the median of the difference between the sold and listing prices, divided by the median listing price for each suburb – to determine the best suburbs.
According to realestate.com.au, these 10 Australian suburbs have the most favourable conditions for buyers:
The listings portal said that over the past year, properties in regional Queensland have had the most favourable conditions for buyers with the top three – Bowen, Charters Towers and Ayr – in the state’s north. These areas, according to realestate.com.au, have “longer days on market, have fewer people looking and show more affordability”.
Arthur Charlaftis, REA Group’s general manager of sales and operations, said realestate.com.au’s Buyers’ Markets offers valuable insight and helps make the property decision easier for those looking to buy.
“Realestate.com.au’s Buyers’ Markers present more affordable price points and less competition from other buyers, making them attractive for people looking to enter the property market,” Mr Charlaftis said.
Tony Doyle, principal of LJ Hooker Bowen, said regional areas in Queensland are receiving plenty of interest due to affordability and the high amount of stock available.
“There’s definitely interest in these Queensland areas from buyers considering moving here to retire or looking for work,” Mr Doyle said. “Bowen in particular attracts many people coming to look for work in the Port and mines.”
Mr Doyle said the area’s lifestyle and location were increasingly driving buyers to the region.
“People are doing their homework and looking at the lifestyle aspects of Bowen. There are no traffic lights in regional areas, which is great as you can get to places in no time.
“In Bowen, there’s also a mix of new and older properties that date back to post-war homes. The history of this town is attracting a lot of interest too.”