The most popular suburbs in Australia during May 2017 have been revealed, with Farmborough Heights in New South Wales coming top.
The new June 2017 edition of the REA Group Property Demand Index found that the country's property buying market reached another record peak in May, with the most popular suburbs found to be those that feature spacious homes on blocks close to amenities such as schools, shops and public transport links.
Farmborough Heights is not just the most in-demand suburb down under, but also the most popular area to buy a house in the whole of the country, even when cities and coastal destinations are taken into account.
Its popularity among homebuyers and property investors is closely followed by The Basin in Victoria, while fellow New South Wales location Narraweena comes in third on the REA Group's list.
In fourth place is Allambie Heights, also in New South Wales, with Unanderra - which is around a two-hour drive away - completing the top five.
Sixth place is taken by Yallambie in Victoria, with the south-eastern state also home to the next three entries on the list: Croydon Hills, Middle Park and Briar Hill.
The top ten is completed by another of New South Wales' suburbs, North Balgowlah.
Nerida Conisbee, chief economist at realestate.com.au, commented: "The Australian residential market feels almost bulletproof at the moment with continued increases in demand setting us up for even more price growth in our major cities, despite the constant speculation based on median price figures that the market is set to collapse."
She added that aside from New South Wales and Victoria, Tasmania is among the strongest markets for property buying at present.
"Western Australia and Northern Territory are still behind the rest of Australia," Ms Conisbee continued.
She explained that while demand is up a little in the Northern Territory, "year-on-year demand continues to drop in Western Australia".
The new June 2017 edition of the REA Group Property Demand Index found that the country's property buying market reached another record peak in May, with the most popular suburbs found to be those that feature spacious homes on blocks close to amenities such as schools, shops and public transport links.
Farmborough Heights is not just the most in-demand suburb down under, but also the most popular area to buy a house in the whole of the country, even when cities and coastal destinations are taken into account.
Its popularity among homebuyers and property investors is closely followed by The Basin in Victoria, while fellow New South Wales location Narraweena comes in third on the REA Group's list.
In fourth place is Allambie Heights, also in New South Wales, with Unanderra - which is around a two-hour drive away - completing the top five.
Sixth place is taken by Yallambie in Victoria, with the south-eastern state also home to the next three entries on the list: Croydon Hills, Middle Park and Briar Hill.
The top ten is completed by another of New South Wales' suburbs, North Balgowlah.
Nerida Conisbee, chief economist at realestate.com.au, commented: "The Australian residential market feels almost bulletproof at the moment with continued increases in demand setting us up for even more price growth in our major cities, despite the constant speculation based on median price figures that the market is set to collapse."
She added that aside from New South Wales and Victoria, Tasmania is among the strongest markets for property buying at present.
"Western Australia and Northern Territory are still behind the rest of Australia," Ms Conisbee continued.
She explained that while demand is up a little in the Northern Territory, "year-on-year demand continues to drop in Western Australia".
