From Western Sydney to Queanbeyan: suburbs where first home buyers are flocking

New data from NAB has revealed the areas leading the way for first home buyer purchases, and the ACT and Western Sydney have topped the list.

NAB lending data, released this week, found that several regional and metropolitan areas have recorded high first home buyer activity in the June quarter, 2022

The figures from the big four bank show that the ACT recorded the highest growth in first home buyer activity, with the postcode of 2602 - including Ainslie and Watson, seeing 360% growth quarter-on-quarter.

For Sydney, Western Sydney saw several postcodes recording first home buyer activity growth, including Granville and Quakers Hill. However, beachside Maroubra was found to be the most popular postcode for first home buyers, growing by 269% from the quarter previous.

Most popular postcodes based on first home buyer activity

ACT

1. 2602 – including Ainslie (+360%)
2. 2620 – including Queanbeyan (+42%)
3. 2611 – including Weston (+26%)

NSW

Greater Sydney

1. 2035 – including Maroubra (+269%)
2. 2142 – including Granville (+264%)
3. 2767 – including Bungarribee (+137%)
4. 2765 – including Melonba (+124%)
5. 2763 – including Quakers Hill (+56%)
6. 2113 – including North Ryde (+47%)
7. 2145 – including Wentworthville (+34%)

Regional

1. 2530 – including Dapto (+79%)
2. 2800 – including Orange (+40%)

VIC

Melbourne

1. 3175 – including Dandenong (+80%)
2. 3121 – including Richmond (+66%)
3. 3802 – including Endeavour Hills (+45%)
4. 3978 – including Clyde North (+16%)
5. 3199 – including Frankston (+12%)

Regional

1. 3216 – including Belmont (+69%)
2. 3429 – including Sunbury (+36%)

QLD

Brisbane, Gold Coast and Sunshine Coast

1. 4006 – including Fortitude Valley (+78%)
2. 4207 – including Beenleigh (+34%)
3. 4509 – including North Lakes (+23%)
4. 4503 – including Kallangur (+18%)

Regional

1. 4670 – including Bundaberg (+85%)
2. 4740 – including East Mackay (+42%)
3. 4211 – including Beechmont (+16%)
4. 4350 – including Toowoomba (+12%)

WA

Perth

1. 6018 – including Karrinyup (+41%)
2. 6107 – including Queens Park (+37%)
3. 6055 – including Brabham (+31%)
4. 6065 – including Wanneroo (+19%)

Regional

1. 6230 – including Bunbury (+125%)

SA

Adelaide

1. 5114 – including Blakeview (+90%)

The appeal for first home buyers

NAB Executive Home Ownership, Andy Kerr, said the “benefits of hybrid working continued to give Australians options to buy in areas they previously may not have considered”,

“Flexible working is one of the biggest trends over the last decade when it comes to changing the game for property sales,” Mr Kerr said.

“The option to work from home is giving first home buyers more choice when it comes to location. All of a sudden, a slightly longer commute when made a few times a week becomes a serious consideration.”

Many of the most active locations for first home buyers are those that are a distance away from CBDs via public transport, or in outer metro suburbs. It’s evident that the impacts of the pandemic on workplace environments (as well as rising prices) have made a considerable difference in the ability for first home buyers to look outside of CBDs.

“Western Sydney is a hot pick for first home buyers,” said Andy Kerr. “Suburbs in the west are providing great value, with the city and local businesses going from strength to strength.”

“Access to Parramatta and Blacktown with so many amenities and transport options means first home buyers continue to flock to western Sydney for a bargain,” he said.

It’s no surprise that first home buyers, previously priced out of the typical blue-chip suburbs and/or those in close proximity to the CBD, are casting a wider net in terms of potential liveable locations for property purchase, as well.

Recent research from Domain showed that the popularity of regional locations for home buyers, in particular, has been so significant that many destinations now have median home prices above $1 million – a fact that would have shocked anyone ten years ago.

“Clearly the tree-change remains appealing for first home buyers, with Sunbury in Victoria and Dapto in NSW once again a hotspot,” Mr Kerr said.

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