The latest online mortgage enquiry data from leading fintech, eChoice, taken over the fourth quarter of 2016, shows a perceptible shift from the previous quarter to more borrowers targeting outlying metropolitan suburbs and regional and coastal centres in each state.
The ‘mortgage hotspot’ data provides insight into the most popular geographic areas where people are planning to buy, based on more than 7,500 online mortgage enquiries from people currently looking to move. The figures collate all locations being targeted from enquiries made between October and December 2016 and cites the top 10 most popular, based on numbers.
eChoice CEO, Peter Andronicos, says this latest quarterly information shows definite trends in borrower preferences towards outer city suburbs and a rise in people targeting regional and coastal centres in each state, with some states seeing many more new locations targeted.
He says: ”Consistently popular locations have re-appeared on this most recent list, particularly in the eastern states and the ACT. However, what we have noted are a broadening range of preferences in the remaining states and NT as many more new locations make their entry.”
New Locations Entering the Top 10 Property Hotspots
- NSW: Hornsby, Wollongong, Leppington, Auburn and Orange.
- Victoria: Craigieburn, Epping, Mildura and Cranbourne.
- Queensland: Port Douglas, Russell Island, Buderim, Caboolture, Ipswich and Warner.
- WA: Quinns Rock, Mount Lawley, Kalgoorlie, Gosnells, Armadale, Eaton and Ellenbrook.
- SA: Morphett Vale, Reynella, Murray Bridge, Woodville Gardens, Daw Park, Mount Gambier, Prospect, Port Augusta and Mount Torrens.
- NT: Johnston, Bakewell, Gillen, Larrakeyah, Gunn, Coconut Grove and Lake Bennett.
- ACT: Greenway, Griffith, Dickson and Bonner.
- Tasmania: Glenorchy, Penguin, Brighton, Ravenswood, Launceston, Geeveston and South Hobart.
Quarter 4, 2016 Mortgage Hotspot Data
About the Data:
Source: Aggregated online mortgage enquiries from eChoice direct and partner programs
Enquiry period: October – December 2016 (inclusive)
Total number of Enquiries: 7,513
Andronicos says todays borrowers are informed and astute in relation to where they want to target, and the list is an accurate reflection of that.
”There is a common theme across the states where hotspots either offer the potential for capital growth through existing or planned investment in local infrastructure, they’re affordable or they offer obvious lifestyle benefits. And some have a combination of more than one of those elements,” he said.
”We don’t expect this pattern to change significantly for a while, unless a series of upwards rate movements this year leads to the factor of affordability alone starting to dictate more of the borrower’s decision making process,” he concluded.
Written by eChoice
Since 1998, eChoice has helped more than 50,000 Australians secure a home loan through its network of over 25 lenders and hundreds of loans. Best of all our service is cost and obligation free!