Spring is just around the corner and auction season has already started. If you are a home buyer and on the lookout for a new home or if you are a property investor, looking for the next addition to your portfolio, you might want to look into these suburbs that are in high-demand.
Melbournians are looking into larger homes in larger lots with trees. Warrandyte comes on top with the highest median price in Melbourne at $983,000 with Ringwood North at $790,000. The more affordable option is Belgrave with a median price of $490,000.
Those who are seeking for homes in Sydney are looking for options located close to the beach or close to the city. Freshwater, with a median house price of $2 million is located close to the beach. Ammeray is also boasting prices even higher than $2 million. About 5 years ago, the median house price at Annandale was less than a million but it has risen significantly to almost reach $1.5 million.
In Adelaide, the top suburbs have reported a median price more than double the median price for the entire city. The top suburbs, Unley at $876,000, Parkside at $705,000 and St. Peters at $1,290,000 are all located close to the Adelaide CBD. St. Peters has the highest median price due to its proximity to the River Torrens Linear Park.
The top three high priced suburbs in Brisbane are Holland Park, Wilston and Stafford Heights. Holland Park homes are priced at a median of $693,000 while Wilston’s median price is over $1 million. The suburbs have much to offer their residents including easy access to the CBD, a wide selection of restaurants and cafes. Stafford Heights is much more affordable in comparison to Wilston at $580,000.
Darwin is getting more and more expensive! The priciest suburb in the city is Fannie Bay at a median price of almost $1 million. It is located close to beautiful beaches, the East Point Reserve and the CBD. Malak has also gained popularity and reached a median house price of $538,000 while Leanyer is at $580,000.
Perth has showed a slowing down in economy. However, the western suburbs are reported to be the most in-demand locations. The top three suburbs, Shenton Park, Nedlands and Pepperming Grove all have median prices that are valued at more than twice the average median price for the city. Right now is a good time to buy in Perth as the prices have dropped during the past year. However, due to the popularity of these suburbs, the declines may not last too long.
The up-and-coming Nicholls and the more established O’Connor and Yarralumla are the most popular suburbs in Canberra. O’Connor, with a median price of $945,000, is ideally located within easy reach of the city, University of Canberra and the Black Mountain walking trails. The suburb has shown the greatest price growth in the city for the past year.
The top suburbs, South and West Hobart and Bellerive all display median prices that are higher than the median price for the entire city. Bellerive gained a great deal of popularity throughout the past year and has made the most progress price-wise. Due to Tasmania’s astounding natural beauty and affordability, the homes in the state have attracted a great deal of demand from buyers.