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Getting your coastal kitchen floor plan right
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Getting your coastal kitchen floor plan right

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Property prices continue to fall in Sydney and Melbourne

Property prices continue to fall in Sydney and Melbourne

Aussie house values are plummeting

Aussie house values are plummeting

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Now is the time to buy a home in Sydney!

Australia's most expensive suburb is not in Sydney or Melbourne

Australia's most expensive suburb is not in Sydney or Melbourne

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This is how much you need to earn to buy a house in Australia right now

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This is what the Australian dream home looks like in 2018

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The pros and cons of renting versus buying

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Five signs you're ready for home ownership

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You could own your own private water park

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Corona virus property predictions: Who wins?

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How to get the highest return on your reno investment

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4 tips to sell your home

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4 things most people forget to check when they buy property

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  2. Open Homes

Property report reveals Australia's Top 10 most in-demand cities

So long Sydney - everyone's heading south! - by Diana Moore
  • 23 Apr 2018

National real estate report results are in, revealing our two southern states share the Top 10 most sought-after cities to live in Australia.

Based on the latest residential data and insights relating to demand and median price, the 2018 Australian Property Market Report has been released and we are expected to see a slow-down of the real estate market, as demand moderates and housing prices fall nationwide.

Whilst conditions vary from state-to-state, banks continue to cut mortgage rates and the days of low interest rates will soon be over the report says, with restrictions on lending expected.

Demand for property in Australia has risen 5.1% year on year, with the demand for houses coming in at a 6.8% increase from last year. “Across Australia, property prices have increased by 6.3% over the year," says Nerida Conisbee, REA Group Chief Economist. "Over the past quarter, however, there’s been a significant slowdown with prices falling and demand for property continuing to slacken nationwide.” 

National real estate report results are in, revealing Australia's Top 10 most in-demand cities to live
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"Across Australia, Property prices have increased by 6.3% over the year."

Nerida Conisbee, REA Group Chief Economist

Sydney and Perth are experiencing the most significant declines in demand but, whilst Perth rallied at 7.0% increase YOY and continues to grow in demand, the draw of Sydney as a city to live in has taken a massive 25.4% dive.

Other capital cities have surged – most significantly demand for property in Hobart has increased by an amazing 48.1%, netting it more than half of the top 10 most in-demand suburbs to live in.

Canberra is also up significantly, with a rise of 27.6% in demand for housing in the Nation’s Capital – mostly driven by the rise in popularity of apartments. Whilst Melbourne was not the largest city to enjoy increased demand, it saw the north-eastern suburb of Warrandyte listed as the most in-demand suburb in Australia, driven by its big homes and block sizes, as well as relative affordability and commuting distance to Melbourne.

The top 10 most in-demand suburbs in Australia

  1. Warrandyte, VIC
  2. Bellerive, TAS
  3. South Hobart, TAS
  4. Eltham, VIC
  5. Battery Point, TAS
  6. Hobart, TAS
  7. Middle Park, VIC
  8. Albert Park, VIC
  9. West Hobart, TAS
  10. Eltham North, VIC

In terms of housing prices, Sydney remains far and away the most expensive city in which to purchase a home, with a median price of $800,000 – compared with Hobart at $425,000. Canberra and Hobart saw the strongest price growth over the year.

Median house price nationwide

  1. Sydney $800,000 -2.4%
  2. Melbourne $650,000 +8.3%
  3. Canberra $596,000 +12.5%
  4. Darwin $479,000 -1.2%
  5. Brisbane $475,000 0%
  6. Perth $460,000 -5.7%
  7. Adelaide $440,000 +3.5%
  8. Hobart $425,000 +17.7%

Read the full report here.

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Australia’s top suburbs for families and singles revealed

Chrissie Swan has sold her South Yarra home for over $5million

  • Open Homes
  • Lifestyle
Diana Moore
Diana Moore
Content expert, florist and interior decorator Diana Moore has been passionate about helping others make the perfect home ever since she moved into her own. From styling her local bar to feel like your best friend’s lounge room, to randomly restyling people’s bookshelves, Diana is a firm believer in making the best of what you have in front of you.

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Getting your coastal kitchen floor plan right
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Property prices continue to fall in Sydney and Melbourne

Property prices continue to fall in Sydney and Melbourne

Aussie house values are plummeting

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Australia's most expensive suburb is not in Sydney or Melbourne

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