• Australia’s housing market outlook for 2020

     

     

    We have seen a dramatic turnaround in market conditions with the federal election as the turning point. With conditions markedly improved, what can we expect in 2020?

    Transcript:

    There are lots of reasons why some suburbs see far more sales than others.

    One of the main reasons some suburbs see more sales is the fact that they are just bigger than others, and as a result seeing more sales occurring every year.

    The second reason can be a lot of new development.  So if we have a lot of new development in a suburb, there are more sales occurring.

    The third reason can be a significant change in the suburb which leads to a big uptick in pricing.  As a suburb becomes more desirable, people decide to cash in and move elsewhere.  

    The final reason can be a change in the demographic.  So suburbs move from having primarily older people to younger people, we typically see a large number of sales.

    In 2019 the suburb that saw the most sales in Australia was Pakenham.  Over the past 12 months it saw 920 for sales.

    In South Australia it was Adelaide City that saw the most number of sales.  It saw 612 sales.

    The Brisbane suburb that saw most sales was Cleveland.  It was 340 sales last year. 

    In NSW, the leafy suburb of St. Ives saw 317 sales over the past 12 months.

    In Western Australia the suburb of Fairmont saw the most sales in 2019 recording 197.  

    In Canberra suburb of Kingston saw 132 sales.

    In the Tasmania suburb of Margate saw 90 sales last year.

    In the Northern Territory the suburb that topped the list was Zuccoli, seeing 76 sales.  

    At the other end of the scale tightly held suburbs see very few sales occurring every year.  This may be because they're low development, they're very very expensive, or people just don't want to move out of them.

    So which suburbs will see the most number of sales in 2020?

    It's highly likely it will be a suburb that has seen lots of new development or alternatively one in which the population is moving from a much older demographic to much younger demographic.

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