Where are the first home buyer hotspots? REA's Nerida Conisbee

Where are the first home buyer hotspots? REA's Nerida Conisbee
Where are the first home buyer hotspots? REA's Nerida Conisbee

EXPERT OBSERVER

While COVID-19 is causing a lot of uncertainty, so far it doesn’t seem to be affecting first home buyer enquiry levels.

It is likely the additional rate cut, the 5% deposit scheme and the various state government incentives are providing a decent boost to activity.

The suburbs and types of housing that are generating the highest levels of enquiry are dominated by units in Sydney and Melbourne.

Melbourne CBD units is topping the list, followed by units in Parramatta, NSW and Footscray.

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Broadly, the west of Melbourne and Sydney appears to be the preferred areas for first home buyers, likely driven by relative affordability.

The most expensive suburb on the list is Randwick where the median price for a unit is almost $940,000. This is almost double the median price for a unit in Melbourne CBD.

Tags: 
Melbourne Property Hotspot

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