10 top selling suburbs for the year

It’s list time! 

That time of the year that the property commentators bring out their lists – top hotspots for next year, best performing suburbs for the last year, highest capital growth city for the last decade.

Recently view.com.au brought out a list of the top 10 selling suburbs.

Digging deeper it was really a list of suburbs which increased in sales vloumes the most over the last year – not hard for places like Gladstone and Moranbah were sales have been dead for the last few years.

An trickle in sales would have been welcome news.

Their list was informative…

Not because it pinpointed suburbs investors should consider – it didn’t. 

In fact you should steer clear of all but one of these suburbs.

But the list was intersting as it showed that some of the towns that have been severely affected by the mining downturn are starting to bottom.

Don’t get me wrong – these towns are NOT a countercyclical play.

Increased sales volumes does not lead to rising prices.

Instead it will lead to more proeprties being put on the market by desperate vendors who’ve been holding back as there have been no buyers in the market.

This increasing stock will lead to flat prices for quite some time yet.

But that hasn’t stopped these 10 suburbs from seeing a serious increase in the number of sales made over the past year.

Whether it be in the heart of Melbourne or on Queensland’s  sun-soaked sands, here are the top 10 selling suburbs for the past 12 months according to increased sale volume.

Anyway…compliments of view.com.au, here’s the list with some of my thoughts appended.

10 top selling suburbs for the year

1. Boyne Island, Gladstone QLD

Boyne Island, a part of the Gladstone region, has seen the largest increase in sales over the past year, with the number of houses sold increasing by 80.8% in 12 months some of it from investors.

I believe these investors will regret their decision down the track. 

2. Moranbah, Mackay QLD

With a 57.3% increase in the sales volume of houses over the past 12 months, this regional Queensland town experienced the second largest growth in the number of sales.

Following a significant drop in property values following the decline of the mining boom, Moranbah has seen investor interest pick back up in the past 12 months.

Some people will never learn.

3. East Side, Alice Springs, NT

The location with the third largest growth in the number of sales for the past 12 months was East Side in Alice Springs, which saw a 53.1% increase in sales volume.

Promising high rental yields and low vacancy rates, investor interest has been high for this location, but again I really can’t see many long term growth drivers here.

4. South Headland, Pilbara WA 

South of Port Headland, the second largest town in the Pilbara region of WA, South Headland has seen a 47% increase in the volume of house sales over the past 12 months, from 115 this time last year to 169 this year.

As you can see the sales volumes aren’t high but 55 more sales over the year skewed the statistics. Some suburbs in Melbourne and Sydney have almost that many sales in a week.

5. Larapinta, Alice Springs NT

Larapinta,  west of Alice Springs, had a 40% increase in sales turnover.

6. Austins Ferry, Hobart, TAS

Austins Ferry, in the north of Hobart has seen a 38.9% increase in the sales volume of houses since this time last year.

Clearly Hobart has experienced significant capital growth over the last year, but again this comes from a reasonably low base of sales – around 2,500 a year. 

Melbourne has 1,700 auctions on one weekend in October

dwelling values in the city increasing in the last quarter more than any other city in Australia, at 3.4%, while the annual change in dwelling values led the country at 14.3%.

7. Fitzroy, Melbourne VIC

Now this is a good investment grade suburb!

The inner city Melbourne suburb of Fitzroy has seen a significant increase in sales volume these past twelve months, at 34.6%, with the median sale price of homes in Fitzroy increasing from $1.32 million to $1.65 million in the past year.

8. Ashfield, Bunderberg QLD

Due to a rise in display homes being constructed in this suburb of Bundaberg, Ashfield has experienced a 34.4% increase in the sales volume of houses in the past 12 months.

9. Botany, Sydney NSW 

Sydney had to make it into this list, with the southern suburb of Botany seeing a 31.8% increase in the sales volume of houses over 12 months.

View.com.au suggests this sales surge may be a reflection of vendors wanting to sell as a sign of consumer opinion towards a slowdown in the property market, which means there are more houses on the market .

10. Portland, Warrnambool VIC

The 10th largest increase in sales volumes for the past year was found by the ocean at Portland, in Victoria’s west, at 30.1%.

WHAT DOES THIS MEAN FOR YOU?

To be successful in property investing in the years ahead you’ll need to be much more careful in your property selection.

You can’t count on the market to do the heavy lifting for you.

And when you’re out looking for the right property you’ll face competition from professional property buyers. 

So if you’re looking for independent advice about property  no one can help you quite like the independent property investment strategists at Metropole.  

Remember the multi award winning team of property investment strategists at Metropole have no properties to sell, so their advice is unbiased.

Whether you are home buyer or a beginner or a seasoned property investor, we would love to help you formulate an investment strategy or do a review of your existing portfolio, and help you take your property investment to the next level.

Please click here to organise a time for a chat. Or call us on 1300 20 30 30.

When you attend our offices in Melbourne, Sydney or Brisbane you will receive a free copy of my latest 2 x DVD program Building Wealth through Property Investment in the new Economy valued at $49