Nine of the top 10 suburbs ranked by the number of highly engaged buyers looking at houses were in Victoria.

For units, six of the top 10 were in Australia's second most populated state.

Earlier this week, removalists Muvall revealed 25% of all the inbound enquiries they received in May were headed to Melbourne, with the majority heading out of Sydney, Brisbane and Perth.

According to Muvall, the number of people leaving Melbourne still slightly outnumbers those coming in, but this looks set to change in the coming months.

The Centre for Population believes Melbourne's population is on track to overtake Sydney as Australia's most populous city in 2031-32.

In January, then NSW Premier Dominic Perrottet mocked the idea that Melbourne was more liveable than Sydney.

"We've got the best harbour in the world, the Opera House, the Blue Mountains, the best beaches, and they've got that Federation Square thing," Mr Perrottet said.

"Like no, Sydney's the place to be, we all know that."

PropTrack economist Anne Flaherty however says the data suggests Melbourne claims the title as the most liveable city in Australia.

"Population growth is ramping back up with the return of international students and migrants and Victoria is set to overtake Queensland as the country's fastest growing state," Ms Flaherty told savings.com.au.

Affordability is likely a factor in Aussies choosing Melbourne over Sydney, with the NSW capital placing tenth in the Economist Intelligence Unit's most expensive cities in the world.

Median rent in Sydney is $711 compared to $535 in Melbourne, while the median value of dwellings is $1,052,810 in Sydney and $755,871 in Melbourne, according to CoreLogic.

Unusually, both cities were prominent in the most recent edition of PRD's Affordable and Liveable Property Guide.

Australia's most in demand suburbs

Ms Flaherty pointed out consistent trends from Realestate.com.au's data.

“Suburbs seeing the most engagement among those looking to buy a house are typically located in middle and outer metropolitan areas of capital cities," she said.

"When it comes to the suburbs seeing the highest level of engagement for units, inner city areas dominate, with the Melbourne, Brisbane, and Adelaide central business districts all making the national top 10."

Houses

Postcode No. of highly engaged buyers

Berwick (VIC)

3806

41,860

Buderim (QLD)

4556

38,452

Kew (VIC)

3101

33,229

Point Cook (VIC)

3030

32,671

Brighton (VIC)

3186

32,262

Croydon (VIC)

3136

32,230

Richmond (VIC)

3121

31,833

Mount Martha (VIC)

3934

31,268

Frankston (VIC)

3199

31,265

Werribee (VIC)

3030

30,908

Units

Postcode No. of highly engaged buyers

Melbourne (VIC)

3000

74,890

Surfers Paradise (QLD) 

4217

51,659

South Yarra (VIC)

3141

44,863

St Kilda (VIC)

3182

39,082

Richmond (VIC)

3121

36,139

Southbank (VIC)

3006

33,360

Hawthorn (VIC)

3122

33,038

Brisbane City (QLD)

4000

32,812

Southport (QLD)

4215

29,702

Adelaide (SA)

5000

28,554

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Update resultsUpdate
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LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkComparePromoted ProductDisclosure
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Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Important Information and Comparison Rate Warning

First published on June 2023

Photo by David Mark from Pixabay



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