The top 10 suburbs where houses are most likely to list in the next six months*
Sydney | Melbourne | Brisbane | Adelaide | Perth | Hobart | Darwin | Canberra |
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Paddington | Pakenham | Springfield Lakes | Seacombe Gardens | Claremont | Risdon Vale | Winnellie | Bonner |
Glenmore Park | Burnside | Mount Cotton | Springfield | North Coogee | Clarendon Vale | Bayview | Casey |
Dover Heights | Caroline Springs | Heathwood | Dover Gardens | City Beach | Rokeby | Larrakeyah | Forde |
Ruse | Cranbourne | Kallangur | Glen Osmond | Iluka | Tolmans Hill | Coconut Grove | Crace |
Balgowlah | Taylors Hill | Goodna | Beaumont | Floreat | Oakdowns | Parap | MacGregor |
Avalon Beach | Beaconsfield | North Lakes | Gepps Cross | Swanbourne | Chigwell | Stuart Park | Harrison |
Balgowlah Heights | Officer | Strathpine | Oaklands Park | Peppermint Grove | Mount Nelson | Anula | Dunlop |
Leumeah | South Morang | Augustine Heights | Fitzroy | Mount Claremont | Lenah Valley | Tiwi | Narrabundah |
Warriewood | Frankston North | Brendale | Medindie | Mosman Park | South Hobart | Muirhead | Franklin |
West Pymble | Roxburgh Park | Bellbird Park | Ascot Park | Cottesloe | Mount Stuart | Lyons | Charnwood |
*of the data observation date of 31 July 2019
The analysis comes amid transition in the property market.
The Reserve Bank of Australia indicated its concern that the lower interest rate environment could spur a rise in housing prices, as revealed in its minutes this week of its 1 October board meeting.
Marking its third rate cut this year, the RBA lowered the official cash rate to the new low of 0.75 per cent in a bid to encourage economic growth and employment levels.
Australia’s big four banks now all offer home loan interest rates below 3 per cent since the central bank’s announcement. Westpac was the last of the big four, this week to join the pack.
The latest Corelogic figures show the number of new listings being added to the combined capital city housing market has seen a 44 per cent rise since the slowdown of July’s winter period.
Lawless said the rise in listings is still much lower than previous years, new stock levels are down across every capital city, with the largest fall recorded in Darwin.
“The number of new capital city listings over the past twenty eight days are tracking at the lowest level for this time of the year since Corelogic started measuring real estate listings in 2007,” Lawless said.
Westpac’s home ownership report indicates that around 2.1 million (17 per cent) Australian home owners are considering selling in the next five years.
It also found that younger generations are vying to get into the market, with 53 per cent of Gen Z and 31 per cent of millennials prioritising buying a home in the next five years.