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New data unveils the tightest held suburbs and those with the fastest turnover

There are some suburbs where property owners have put down roots and never want to leave.

New data unveils the tightest held suburbs and those with the fastest turnover

02 July 2024

There are some suburbs where property owners have put down roots and never want to leave.  Maybe this is because they have found their "forever home" or are living in a highly sought after blue-chip suburb. 


24 Shamrock Parade - one of only five properties currently on the market in Killarney Heights. Picture: realestate.com.au.

But for property seekers wanting to buy in these neighbourhoods, they could be waiting a long time to get their foot in the door.  Killarney Heights, in northern Sydney, has an average holding period of 20.1 years making it the most tightly held suburb in the country.

Suburbs with the highest average holding period

Suburb State Region Average holding period (years)
Killarney Heights NSW Greater Sydney 20.1%
Clarinda VIC Greater Melbourne 19.2%
Fairfield Heights NSW Greater Sydney 18.8%
Point Lonsdale VIC Rest of VIC 18.3%
Kareela NSW Greater Sydney 17.8%
Cherrybrook NSW Greater Sydney 17.7%
Berowra Heights NSW Greater Sydney 17.6%
Glen Alpine NSW Greater Sydney 17.6%
Caulfield VIC Greater Melbourne 17.6%
Watsonia North VIC Greater Melbourne 17.4%

Source: PropTrack | 

Most properties in Killarney Heights are large four or five bedroom properties with swimming pools and plenty of outside space.  Many of the residents would have moved there to raise a family, be close to the good schools, but still be close to the city. And, have then liked it so much they have never left.

Clarinda, just 18kms south east of Melbourne, has an average holding period of 19.2 years for houses and is the second tightest held suburb in Australia.
 


1/52 Clarinda Road, Clarinda, is heading to auction. Picture: realestate.com.au.

The majority of houses in Clarinda have four plus bedrooms and are well-sized family homes.  

Nearly all of the top 10 most tightly held suburbs in Australia are either in Melbourne or Sydney, but there is one regional suburb that makes it in at number four.  Point Lonsdale, on the Bellarine Peninsula in Victoria has an average holding period of 18.3 years.

The median house price in this suburb is $1.29 million, but there are many luxury properties costing three to four times that price.

However, not all suburbs have high average holding periods. But if properties are reselling faster in some suburbs does that mean that they are unpopular and no one wants to live there?  Absolutely not.  In fact, the main similarity between the suburbs with the quickest turnover is the age of the properties and even the suburb.

Denman Prospect, in Canberra, is one of the newest suburbs in Australia and has an average holding period of 2.7 years, the lowest in the country.

Suburbs with the lowest average holding period

Suburb State Region Average holding period (years)
Denman Prospect ACT Australian Capital Territory 2.7
Yarrabilba QLD Greater Brisbane 3.2
Rochedale QLD Greater Brisbane 3.5
Palmview QLD Rest of QLD 3.6
Mount Duneed VIC Rest of VIC 3.6
Aintree VIC Greater Melbourne 3.7
Baringa QLD Rest of QLD 3.7
Box Hill NSW Greater Sydney 3.7
Deebing Heights QLD Greater Brisbane 3.7
Googong NSW Rest of NSW 3.8

Source: PropTrack 

With a population of roughly 2,700 at the last Census, all the properties have been built within the past five years.

Many investors bought off the plan and have since sold their investment.

Yarrabilba, in the Logan - Beaudesert region of Brisbane has an average hold period of 3.2 years.

In 2016, the suburb only had 5,400 people living there, but by the 2021 census the population had skyrocketed to over 10,000.
 


Five year old 4 Splendour Circuit is on the market again in Yarrabilba. Image: realestate.com.au.

Mount Duneed, in Geelong, has the fastest turnover period of 3.6 years in Victoria.

Again, this is a new suburb, which was established as part of the Armstrong Creek Growth Area that was opened up for urban development from 2010.

Houses in new development suburbs resell quickly as many are bought by investors to make a profit.

While new development suburbs often witness swift property turnover driven by investment activity, this doesn't mean they won't evolve into tightly held suburbs over time.

As families put down roots, these developing suburbs may one day rival the likes of Killarney Heights, to become the most tightly help suburbs in Australia.

 

This article was originally published on realestate.com.au 'New data unveils the tightest held suburbs and those with the fastest turnover'