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Top 10 Selling Suburbs This Year
October 25, 2017
“First call! Second call! I repeat, second call! And back to first call again…now second call…and skipping over to fourth and final call! But now back to third call and this is definitely the final call, that is..third ca-”
Auctions are fun for anybody who isn’t bidding; for those who are, well, heart attack anyone? But that hasn’t stopped these 10 suburbs from seeing a serious increase in the number of sales made over the past year. Whether it be in the heart of Melbourne or on Queensland’s sun-soaked sands, here are the top 10 selling suburbs for the past 12 months according to increased sale volume.
Boyne Island, Gladstone QLD
Boyne Island, a part of the Gladstone region, has seen the largest increase in sales over the past year, with the number of houses sold increasing by 80.8% in 12 months. June saw a spike in sales, with reports saying that investor interest had also increased, perhaps because of all the cold weather down south. What is clear is an increased confidence in the sunny region.
Moranbah, Mackay QLD
With a 57.3% increase in the sales volume of houses over the past 12 months, this regional Queensland town experienced the second largest growth in the number of sales. Following a decrease in the value of its properties following the decline of the mining boom, Moranbah has seen investor interest pick back up in the past 12 months.
East Side, Alice Springs, NT
The third largest growth area in the number of sales for the past 12 months was East Side in Alice Springs, which saw a 53.1% increase in sales volume. This comes at a time where rental prices in Alice Springs have reached such highs as to mirror rental prices in some of the eastern seaboard cities of Australia. Promising high rental yields and low vacancy rates, there is little wonder investor interest has remained high.
South Headland, Pilbara WA
South of Port Headland, the second largest town in the Pilbara region of WA, South Headland has seen a 47% increase in the volume of house sales over the past 12 months, from 115 this time last year to 169 this year. This increase is another sign of the gradual swing in investor opinion in favour of resource-dependent towns and regions following a significant fall in house values following the collapse of the mining boom.
Larapinta, Alice Springs NT
The sixth largest growth spot for the number of houses sold in the past year comes in the surprising location of Larapinta, to the west of Alice Springs, with a 40% increase.
Austins Ferry, Hobart, TAS
Austins Ferry, in the north of Hobart and on the banks of the Derwent, has seen a 38.9% increase in the sales volume of houses since this time last year. This is of little surprise, as Hobart real estate has experienced significant growth, with dwelling values in the city increasing in the last quarter more than any other city in Australia, at 3.4%, while the annual change in dwelling values led the country at 14.3%.
Fitzroy, Melbourne VIC
Unsurprisingly, the inner city Melbourne suburb of Fitzroy has seen a significant increase in sales volume these past twelve months, at 34.6%. With the median sale price of homes in Fitzroy increasing from $1.32 million to $1.65 million in the past year, there is no doubt that vendors have wanted to make the most of the burgeoning capital growth within this treasured suburb.
Ashfield, Bunderberg QLD
Due to a rise in display homes being constructed in this suburb of Bundaberg, Ashfield has experienced a 34.4% increase in the sales volume of houses in the past 12 months.
Botany, Sydney NSW
Sydney had to make it into this list, with the southern suburb of Botany seeing a 31.8% increase in the sales volume of houses over 12 months. This may be a reflection of vendors wanting to sell as a sign of consumer opinion towards a slowdown in the property market, which means there are more houses on the market for the savvy investor or home-seeker.
Portland, Warrnambool VIC
The 10th largest increase in sales volumes for the past year was found by the ocean at Portland, in Victoria’s west, at 30.1%.