Report highlights the crucial role affordability plays in enhancing seller market conditions
Western Australia and Queensland are leading the list of states with suburbs experiencing favourable home selling conditions.
Property Credit recently published its report, “Affordable Prices Propel Seller Markets: Key Suburbs in Select States Revealed,” identifying the top suburbs where selling a home has become significantly easier due to favourable market conditions driven by affordability.
Western Australia has emerged as the leading state in the current real estate landscape, with numerous suburbs showcasing significant seller market conditions. The Perth metropolitan area, encompassing regions such as South West Perth, North West Perth, and Inner Perth, stands out prominently.
Suburbs like Wellard, East Perth, Hamilton Hill, and Yokine have demonstrated notable improvements for sellers, characterized by fewer listings, shorter days on the market, and rising asking prices.
Queensland also features prominently on the list, with multiple suburbs from Brisbane, Townsville, and the Gold Coast regions exhibiting strong seller market indicators. Suburbs such as Burdell, Griffin, and Blacks Beach are noteworthy for their favourable conditions for sellers.
In South Australia, several suburbs from the Adelaide metropolitan area have made the list, including Andrews Farm, Modbury North, and Munno Para West. These areas are characterized by competitive market conditions and asking prices that largely fall below the $750,000 threshold.
New South Wales presents a diverse representation, with suburbs from regions such as Sydney - Outer West and Blue Mountains and Newcastle and Lake Macquarie making the list. Suburbs like Blackheath and Wallsend have shown improved market conditions. While some Sydney suburbs have higher median prices, many listed suburbs maintain asking prices below $750,000, aligning with the affordability trend observed in other states.
“Our latest report highlights the crucial role affordability plays in enhancing seller market conditions,” said Giordano Stepancic (pictured above), chief executive of Property Credit. “We have meticulously analysed key indicators such as falling listings, reduced inventory levels, shorter days on market, and rising asking prices to identify these standout suburbs.
“Many of these suburbs have median asking prices under $750,000, highlighting the impact of affordability on market dynamics. This trend suggests that reasonably priced properties are attracting heightened buyer interest, creating a competitive environment favourable for sellers.”
Stepancic added that the report not only identifies the suburbs where sellers have the upper hand but also provides actionable insights into the factors driving these trends, empowering sellers to make strategic choices that align with current market conditions and maximise their returns.
“Real estate agents in these key suburbs should leverage this data to better serve their clients,” he said. “Sellers in these areas can confidently enter the market, knowing that conditions are in their favour. By understanding these trends, agents can provide targeted advice and sellers can achieve optimal outcomes.”
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