No matter who you ask, auctions are great fun. They might be stressful at times, but the atmosphere and pressure pumps a serious adrenaline rush through real estate agents and budding property purchasers alike.
It’s one of the reasons they’re growing in popularity so quickly. In fact, these 10 suburbs have seen some crazy numbers over the past year. Take a look at the list below to find the top 10 selling suburbs by increased sales volume to find out where you could be focusing your attention:
The Highest-selling Auction Suburbs from the Past Year
Read on to find our list of the top 10 suburbs, ranked by their respective increases in sales volume.
1) Boyne Island, Gladstone QLD
Part of the Gladstone region, Boyne Island has witnessed the largest sales spike over the past year, with the amount of properties shifted off the market increasing by an insane 80.8% in only 12 months.
A spike in sales was seen in June, with investor interest also increasing. Whether it’s down to colder weather down south, one thing is for sure – confidence in this sunny part of Australia has taken a huge jump.
2) Moranbah, Mackay QLD
Another entry from Queensland, the town of Moranbah has seen its sales volume for houses rise by 57.3% over the past year, giving it the second-largest growth for sales.
The decline of the mining boom saw a drop in this area’s sales, but this has definitely picked right back up.
3) East Side, Alice Springs NT
Third place goes to East Side in Alice Springs, which recorded a 53.1% in increased sales volume. This falls alongside the peak of rental property prices falling in line with some areas on the eastern seaboard. With such high rental prices and low vacancy rates, it’s no surprise that investor interest is so high.
4) South Headland, Pilbara WA
Situated south of Port Headland, South Headland is the second-largest town in WA’s Pilbara region, and it’s seen a rise in sales from 115 last year to 169 – 47%.
This is likely down to the increased investor interest in research-dependent towns, after the decline in property prices after the mining boom.
5) Larapinta, Alice Springs NT
Larapinta falls in 6th place. Situated in the west of Alice Springs, where property sales volumes have increased by 40%.
6) Austins Ferry, Hobart, TAS
North of Hobart and resting on the banks of the Derwent, Austins Ferry has seen a 38.9% sales volume increase over the past 12 months.
This shouldn’t come as a surprise, as real estate in Hobart has experienced significant growth, with it remaining one of the few regions expected to resist capital city oversupply.
Last year, dwelling values increased more than any other Australian city, with annual values at a 14.3% increase.
7) Fitzroy, Melbourne VIC
This one shouldn’t come as a surprise, either. Inner-city Melbourne suburb Fitzroy has seen serious sales volume increases over the past 12 months, sitting at 34.6%.
Median sales prices in the suburb increased from $1.3 million to $1.65 million over the past 12 months, so it’s understandable that investors have wanted to make the most of the growth.
8) Ashfield, Bunderberg QLD
Yet another entry from Queensland, the rise in display home construction has influenced the 34.4% increase in sales volume over the past year.
9) Botany, Sydney NSW
It’s understandable that Sydney was going to feature on this list somewhere. Botany, situated on the southern side of the city, witnessed a 31.8% sales volume increase over the past year. This could be a reflection of market sentiment, as investors and experts alike are anticipating a slowdown in Sydney’s real estate market over the next 3 years.
10) Portland, Warrnambool VIC
It might be last on the list, but ocean-side Portland still saw significant growth, with its sales volume increasing by 30.1%