The most in-demand Sydney and Melbourne suburbs for July 2018
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.
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.
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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. Paddington
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 Richmond 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% |
|
Lismore |
$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. Hawthorn
2. Warrandyte
3. Park Orchards
4. Albert Park
5. Red Hill
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. Mitcham
7. Eltham
8. Sydenham
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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