The most in-demand Sydney and Melbourne suburbs for July 2018
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The most in-demand Sydney and Melbourne suburbs for July 2018

The most in-demand Sydney and Melbourne suburbs for July 2018

by Sasha Karen | July 10, 2018 | 1 minute read

Sydney and Melbourne, the two most popular property markets in Australia, have seen their fair share of turbulence, according to the latest data from realestate.com.au, but no matter where you go, there’s always strong demand in some pockets. Here’s realestate.com.au’s most in-demand suburbs for Sydney and Melbourne.

deman houses, properties, suburbs, Sydney, Melbourne, July 2018
July 10, 2018

Sydney

The interest in property in Sydney has seen the biggest impact of dwindling demand, seeing a drop of 22.5 per cent over the last year. This is fairly consistent for both houses and apartments, which saw demand decline by 22.5 per cent and 23.1 per cent respectively.

The median price also saw a decline by 7.4 per cent over the last year to $815,000. The price decline is likely to continue over the rest of the year, the report noted.

However, there were still some pockets that saw less of decline than others, with Sydney’s eastern suburbs recording the smallest decline in demand, falling 12.3 per cent. The Baulkham Hills and Hawkesbury region however saw the biggest fall in demand at 30.7 per cent.

Despite falling demand, both the outer south-west and Ryde regions saw rises in median prices at 0.8 of a percentage point to $665,000 and 16.2 per cent to $1,220,000 respectively.

The 10 most in demand suburbs in Sydney, according to realestate.com.au, are:

Houses

1. Freshwater
2. PaddingtonPaddington, QLD Paddington, NSW
3. Cammeray
4. North Sydney
5. Narraweena
6. North Manly
7. Newton
7. Allambie Heights
9. North Balgowlah
10. North Curl Curl

Apartments

1. Fairlight
2. Cremorne Point
3. McMahons Point
4. Centennial Park
5. Artarmon
6. Wollstonecraft
7. Queenscliff
8. Naremburn
9. Paddington
10. Greenwich

Regional NSW, unlike Sydney, saw mostly rises in demand, with the RichmondRichmond, SA Richmond, VIC Richmond, NSW Richmond, TAS Richmond, NSW Valley region experiencing the most demand at 46 per cent with a median price of $325,000, followed by Orange at 42.9 per cent with a median price of $385,000 and Clarence Valley at 29.1 per cent with a median price of $380,000.

Shellharbour experienced the largest decline of demand, dropping 41.5 per cent with a median price of $627,000. Following this was Wollongong at a decline in demand at 37.7 per cent with a median price of $702,000 and then both Wingecarribee and Ballina, both declining in demand at 27.5 per cent with median prices of $749,000 and $640,000 respectively.

The biggest winner in regional NSW for price growth over the last year were both Eurobodalla and Tweed, which both saw rises of 12.5 per cent to median prices of $477,000 and $585,000 respectively.

Metro Sydney median price and demand

 Regions

Median price

Median price year-on-year percentage change

 Demand year-on-year percentage change

 

Baulkham Hills & Hawkesbury

$1,208,500

-4.7%

-30.7%

Blacktown

$700,000

-5.3%

-21.1%

City & Inner South

$950,000

-3.1%

-18.9%

Eastern Suburbs

$1,330,000

-13.9%

-13.2%

Inner South West

$855,000

-2.8%

-21.2%

Inner West

$1,050,000

-4.5%

-18.0%

North Sydney & Hornsby

$1,185,000

-14.3%

-26.2%

Northern Beaches

$1,370,000

-8.7%

-20.5%

Outer South West

$665,000

0.8%

-19.5%

Outer West & Blue Mountains

$650,000

-3.0%

-27.0%

Parramatta

$725,000

-6.0%

-22.4%

Ryde

$1,220,000

16.2%

-28.3%

South West

$743,500

-3.4%

-30.0%

Sutherland

$970,000

-15.7%

-27.2%

Regional NSW median price and demand

 Regions

Median price

Median price year-on-year percentage change

 Demand year-on-year percentage change

Albury

$305,000

4.8%

20.6%

Armidale Dumaresq

$335,000

-9.5%

23.3%

Ballina

$640,000

11.3%

28.9%

Bathurst Regional

$425,000

6.3%

-27.5%

Byron Bay

$850,000

1.2%

-1.8%

Clarence Valley

$380,000

3.1%

29.1%

Coffs Harbour

$479,500

4.9%

-0.7%

Dubbo

$360,000

2.9%

1.3%

Eurobodalla

$477,000

12.5%

25.2%

Great Lakes

$479,000

8.6%

13.9%

LismoreLismore, NSW Lismore, VIC

$380,000

-3.8%

20.6%

Newcastle

$615,000

5.5%

-25.5%

Orange

$385,000

4.8%

42.9%

Port Macquarie-Hastings

$489,000

-2.1%

2.8%

Queanbeyan

$456,250

0.3%

22.2%

Richmond Valley

$325,000

9.1%

46.0%

Shellharbour

$627,500

-1.2%

-41.5%

Shoalhaven

$555,000

6.7%

-22.1%

Tamworth Regional

$345,000

5.3%

18.7%

Tweed

$585,000

12.5%

24.7%

Wagga Wagga

$335,000

-3.5%

18.5%

Wingecarribee

$749,750

-6.3%

-27.5%

Wollongong

$702,000

5.6%

-37.7%


Melbourne

There’s signs of positivity in the Melbourne market despite demand falling year on year, dropping 6.1 per cent. Houses also saw less interest with a fall of 12.8 per cent in demand, but apartments have been gaining traction with demand rising 4.5 per cent.

The median price is also rising, but barely, at 0.5 of a percentage point to $653,000, but there is a chance for this growth to be reversed throughout the rest of the year, the report noted.

Demand for Melbourne markets have mostly declined; only one region, being inner Melbourne, saw a rise in demand at 8.8 per cent, with a median price of $618,100. The outer east region of Melbourne saw the largest drop in demand at 20.3 per cent with a median price of $750,000, followed by the north-west at a decline of 14.9 per cent with a median price of $600,500 and then the south-east region with a decline in demand of $630,000.

Median price growth, unlike demand, was mostly up, with west Melbourne rising the most at 12.3 per cent to $587,000, The second best median price growth was the north-west region of Melbourne which rose 8 per cent and then the south-east region of Melbourne which rose 6.8 per cent.

The 10 most in demand suburbs in Melbourne, according to realestate.com.au, are:

House

1. HawthornHawthorn, VIC Hawthorn, SA
2. Warrandyte
3. Park Orchards
4. Albert ParkAlbert Park, SA Albert Park, VIC
5. Red HillRed Hill, QLD Red Hill, QLD Red Hill, ACT
6. Fitzroy North
7. Eltham
8. Collingwood
9. St Kilda
10. Toorak

Apartments

1. Montmorency
2. Parkdale
3. Briar Hill
4. Coburg North
5. St Kilda West
6. MitchamMitcham, VIC Mitcham, SA
7. Eltham
8. SydenhamSydenham, VIC Sydenham, NSW
9 Black Rock
10. Tullamarine

Regional Victoria was very strong for demand, with no declines recorded at all. Warrnambool was by far the most in-demand Victorian region which saw a rise in demand of 59.6 per cent with a median price of $317,000, followed by Ballarat which saw a rise in demand of 54.5 per cent with a median price of $341,000 and then Greater Geelong with a rise in demand of 53.9 per cent with a median price of $505,000.

The Surf Coast was the region with the most median price growth, rising 11.7 per cent with a median price of $804,000, followed by Greater Geelong with a rise of 11 per cent and then Wodonga with a rise of 8.8 per cent with a median price of $345,000.

Metro Melbourne median price and demand

Regions

Median price

Median price year-on-year percentage change

Demand year-on-year percentage change

Inner

$618,100

-9.1%

8.8%

Inner East

$1,030,000

-16.2%

-3.7%

Inner South

$850,000

-13.7%

-6.9%

North East

$670,000

4.2%

-9.3%

North West

$600,500

8.0%

-14.9%

Outer East

$750,000

1.4%

-20.3%

South East

$630,000

6.8%

-10.3%

West

$587,000

12.3%

-4.1%

Regional Victoria median price and demand

Regions

Median price

Median price year-on-year percentage change

Demand year-on-year percentage change

Ballarat

$341,550

5.1%

54.5%

Greater Bendigo

$340,000

4.6%

46.1%

Greater Geelong

$505,000

11.0%

53.9%

Greater Shepparton

$265,000

6.0%

43.5%

Mildura

$260,000

4.0%

33.2%

Surf Coast

$804,000

11.7%

16.8%

Warrnambool

$317,000

3.2%

59.6%

Wodonga

$345,000

8.8%

28.4%

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