New data from mortgage enquiries reveal the top 10 property hotspots being targeted in each state, providing insight into the most popular geographic areas where people now want to live.
Compiled by leading Fintech, eChoice, the data was gathered over a three month period and shows recent trends towards borrowers looking to purchase in specific areas, based on more than 15,000 online mortgage enquiries from people currently looking to move.
eChoice CEO, Peter Andronicos, says the new information paints a picture for anyone active in the real estate market as they can monitor which locations will present with the most intense competition, and take that into account during their own deliberations and planning.
Andronicos says: The hotspots clearly identify areas which are appealing to different categories of borrowers, including new purchasers, upgraders and investors. This is particularly evident through the appearance of both established and emerging suburbs in metropolitan areas, as well as the inclusion of regional towns and cities across the country.
He says: The presence of regional areas in the data would suggest to us that with interest rates still at historic lows, some borrowers are either seizing the opportunity to enter the market because they can afford to purchase in those areas, or they looking for a lifestyle change.
|1||Blacktown||Werribee||Southport||Mandurah||Parafield Gardens||Alice Springs||Belconnen||Lenah Valley|
|2||Liverpool||South Yarra||Surfers Paradise||Baldivis||Mawson Lakes||Moulden||Ngunnawal||Devonport|
|3||Parramatta||Richmond||Pimpana||Hamilton Hill||Mount Barker||Bakewell||Kingston||Sandy Bay|
|4||Penrith||Tarneit||Labrador||Thornlie||Happy Valley||Humpty Doo||Amaroo||Riverside|
|6||Mosman||Reservoir||Biggera Waters||Canning Vale||Renmark||Rosebery||Lawson||Westbury|
|7||Dee Why||Pakenham||Burpengary||Aveley||Port Lincoln||Sadadeen||Harrison||Legana|
|8||Port Macquarie||Point Cook||North Lakes||Halls Head||Findon||Katherine||Coombs||Lilydale|
|9||Strathfield||Cranbourne||Ipswich||Warnbro||Hope Valley||East Side||Wright||Kingston|
|10||Kellyville||Berwick||Reedy Creek||Butler||Aldinga Beach||Tennant Creek||Franklin||Newstead|
Source: Aggregated online mortgage enquiries from eChoice direct and partner programs
Enquiry period: July-September 2016 (inclusive) Total number of Enquiries: 15,631
The top property hotspots have one or more of the following characteristics:
- They may have the potential to show growth in the future through existing or planned investment in local infrastructure and a diversity of local industry.
- They are affordable.
- They have undergone a process of gentrification.
- They offer significant lifestyle benefits.
He says some of the leading hotspots will not come as a surprise to more experienced and savvy property hunters, because if they are making mortgage enquiries online, they are more than likely to have already done their property research online as well.
The substantial amount of customer enquiries that make up the data will continue to provide a responsive indication of current property market activity and this will allow us to track and report the changes in hotspots over time, adds Andronicos.
Tags: Investment Tips