A South Australian suburb has retained the top spot for people looking to sell their home, according to new research.
Realestate.com.au’s quarterly Top Sellers’ Markets data reveals Parkside has maintained a high demand for property over the past two quarters, and that a number of Victorian suburbs have increased in popularity.
In New South Wales, the suburb of Freshwater has seen a surge in demand as it enters the national list of top suburbs in second position, after dropping off the list entirely last quarter.
Belair, Ashwood, Blackburn South and Stanmore are all newcomers to the list this quarter, while Freshwater, Fullarton and Newmarket regained popularity with buyers after dropping off last quarter.
Real estate agent, John McRostie, from Smallacombe Real Estate in Kingswood, South Australia, said that demand for property in Parkside has always been high.
“I have been selling property in Parkside for the last 18 years and in that time I have witnessed a number of different growth periods," he said.
“The most recent is high demand from first home buyers and young, professional couples who like to be close to the city. There is solid investor interest and properties are yielding good rental return.”
Mr McRostie said there have been limited properties available over the last six months, but the number of properties on the market coming into spring is increasing.
“For those considering selling their property, there is strong buyer interest, which makes it a good time to sell," he said.
“There is increased positivity in the market following the election, combined with low interest rates and a slight jump in spring activity. If your property is presented and priced correctly, the buyers are there.”
With four of the top 10 suburbs in Victoria, director and managing partner of Jellis Craig Hawthorn and Balwyn Steven Abbott said that the Victorian property market was starting to pick up with the spring selling season expected to offer lots of opportunity for buyers.
“There has been a noticeable increase in market activity coming out of winter. Consumer confidence is high and with plenty of demand for property, we are expecting a very strong spring selling season,” Mr Abbott said.
According to the report, the top 10 Australian sellers' suburbs are:
1. Parkside (SA)
2. Freshwater (NSW)
3. Belair (SA)
4. Newmarket (QLD)
5. Surrey Hills (VIC)
6. Ashwood (VIC)
7. Blackburn South (VIC)
8. Fitzroy North (VIC)
9. Stanmore (NSW)
10. Fullarton (SA)