New Property Report shows city living top choice for Victorians

Melbourne’s inner city is the most popular location for Victorians, with four inner city suburbs named among the top 10 locations last quarter.

Property experts InfoTrack have released their latest Property Market Update which, for the first time, includes data on the market value of Victorian properties.

InfoTrack’s Head of Property Australia, Lee Bailie, said it proved CBD living was a top priority for Victorians between 1 April and 30 June. “We are able to reveal the most sought-after suburbs in Victoria for last quarter,” Mr Bailie said. “Our report found Melbourne City was a clear winner, with more than double the number of valuations compared to its second-place rival, the western suburb of Tarneit.”

“Other property hotspots included the inner-city suburbs of Southbank in third place, South Yarra in fourth, and Richmond in eighth position.” Mr Bailie said Melbourne’s Western Suburbs also proved to be a popular choice. “Three of the top 10 suburbs hailed from Melbourne’s West, and included Tarneit in second place, Werribee in fifth, and Truganina in tenth spot.”

InfoTrack’s Property Market Update Q2 2023 report also examined the top locations for property transactions in New South Wales and Queensland. “In Queensland, it found Brisbane’s inner-city suburbs grew in popularity for unit sales, but when it came to houses, there was a rise in regional locations, with suburbs from North Queensland, the Central Highlands, and Central Queensland entering the top 10 locations with the highest number of transactions,” Mr Bailie said.

“In New South Wales, the southern Sydney suburb of Arncliffe and the inner-city suburb of Waterloo were new to make the list of top 10 suburbs for First Home Buyers, which continues to be dominated by Sydney’s north-western, western, and south-western suburbs.”

In June, InfoTrack also saw some of the busiest search activity of the year on its InfoTrackGO site, where prospective buyers can order Title Searches and conduct their own research into a property or suburb they’re interested in purchasing.

The full report can be viewed here.