Prominent Increase In Search Activities Hit These Australian Neighbourhoods
Though there is no proven link between suburb searches and purchasing behaviour, the clear shift towards regional markets does indicate the start of a search into regional options. With a 35% increase in search activity in real estate since the pandemic landed on Australian shores in June, there is a clear shift towards interest in regional areas as opposed to city suburbs, indicating that more Australians are considering making a lifestyle change post lockdown.
Interestingly, it was the Northern Territory who recorded the most significant increase in regional search activity, hitting an increased search of 135%, despite overall volumes being low. The increased interest in regional Victoria didn’t come as a surprise with search activities reaching an historic high of 130% in August whereas searches within Melbourne city dropped by 20.5%, also marking an historic low.
New South Wales saw the smallest rise of searches in Sydney’s Inner West and Eastern Suburbs, whereas the largest increases can be found in the Mid North Coast, Far West and Orana.
Sydney and its surrounds saw an increase in the Central Coast, Southern Highlands and Shoalhaven, while areas such as Coffs Harbour, Grafton, Illawarra, Newcastle and lake Macquarie and Richmond all saw record number of searches in August 2020.
The Queensland market showcases a high interest in lifestyle markets, with areas such as Wide Bay and the Sunshine Coast increase the most between April and August 2020 with 87% and 84% increases respectively.
Read more about the rising neighbourhoods across Australia by reading the full article here.