October 5, 2022

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Hybrid working environments are shaking up where Australians are choosing to enter the property market, according to new lending data from one of Australia’s big four banks.

The new figures, from NAB, break down state-by-state where buyers are investing.

Despite an overall cool down in property sales in 2022, a number of metropolitan and regional areas are seeing strong growth in first home buyer activity.

First home buyer hotspots in Sydney, according to NAB lending data.
First home buyer hotspots in Sydney, according to NAB lending data. (9News)

In NSW, Western Sydney is leading the way for first buyers.

But the beachside suburb of Maroubra in Sydney’s east proved the most popular amongst first buyers, recording a growth of 269 per cent.

Granville, on the outskirts of Paramatta, also showed significant growth.

Auctions real estate property Australia Sydney Melbourne Gold Coast
First home buyers are flocking to the beachside suburb of Maroubra in Sydney’s east. (Domain)

With that said, the Australian Capital Territory was home to the greatest growth in first home buyer activity.

“The postcode of 2602 in Canberra, including Ainslie and Watson, increased by 360 per cent in the June quarter, as against the quarter prior,” a statement supplied by NAB says.

NAB Executive Home Ownership, Andy Kerr, contributes the growth in this area to flexible working arrangements.

First home buyers in Melbourne are flocking to Dandenong and Richmond.
First home buyers in Melbourne are flocking to Dandenong and Richmond. (9News)
Fortitude Valley in Brisbane has seen the greatest growth in first home buyers.
Fortitude Valley in Brisbane has seen the greatest growth in first home buyers. (9News)

“Flexible working is one of the biggest trends over the last decade when it comes to changing the game for property sales,” Kerr said.

“The option to work from home is giving first home buyers more choice when it comes to location.

“All of a sudden, a slightly longer commute when made a few times a week becomes a serious consideration.

“Clearly the tree-change remains appealing for first home buyers, with Sunbury in Victoria and Dapto in NSW once again a hotspot.”

Melbourne’s south east suburbs also drew plenty of attention, with Dandenong recording a growth of 80 per cent.

Brisbane’s Fortitude Valley also grew 78 per cent between April and June.

<p>In the past 12 months there were 64 suburbs across Sydney where not a single property was sold for less than $1 million, according to data from Domain. (Tourism NSW)</p><p><strong>Click through to see the suburbs where even millionaires might have trouble finding a home.</strong></p>

The Sydney suburbs where $1 million isn’t enough to buy a home

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