Sales turnover highest in outer suburbs
Buyers are most active in the outer-lying regions of capital cities, a new report has highlighted.
The Bank of Queensland’s Buyer’s Guide analysed the councils with the highest number of sales in the past 12 months.
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According to the report, the outer regions of capital cities are dominating the market in most states.
New South Wales saw a spike in interest in the Blacktown region in the outer western suburbs of Sydney.
Around 4,717 properties have been sold in this area in the past 12 months.
Turnover appears to be high, with properties spending a median of only 22 days on the market.
The suburbs lying between Sydney and Newcastle are also surging ahead.
Wyong has seen 3,479 sales, while Lake Macquarie has seen 3,347.
In Victoria, the Casey region in Melbourne’s far south east proved particularly popular, with 3,741 sales.
Activity appears to be less frantic than in parts of Sydney, however, with properties spending a median of 36 days on market.
The Geelong region and the Mornington Peninsula are also drawing in buyers.
In Western Australia, the trend shifted slightly towards suburbs closer to the CBD.
The Stirling region, within 15 kilometres of the Perth city centre, saw 4,492 sales in the last 12 months.
However, the other top spots were taken by suburbs further away from the city, including Wanneroo, Rockingham and Joondalup.
Queensland has larger council divisions, with the entire city of Brisbane falling within a single council.
Brisbane saw 15,510 sales in the last 12 months, with houses spending 36 days on market.
Otherwise, the south east corner of the state attracted the most buyers, with the Gold Coast, Moreton Bay, Sunshine Coast and Logan rounding out the top five.