CoreLogic has analysed every Australian suburb over the last year and worked out those with the highest and lowest turnover. Across Australia, the median turnover currently rests at 4.8%, with data reflecting the last 12 months to February 2018.
Highest turnover areas are thought to be areas families buy in as first properties as a means of entering the market, characterised by their affordability and locations around the outer fringes of capital cities.
Conversely, lower turnover is thought to be attributable to higher stamp duty, difficulties in raising deposits, and affordability restraints and lack of incentives for older property owners to downsize.
New South Wales
Spring Farm was the suburb with the highest turnover for the state, coming in at 12% of its housing stock selling over the last year. Four out of five of the suburbs were within the Greater Sydney area, including Oran Park (11.1%), Jordan Springs (10.4%) and Edmondson Park (9.5%).
Three out of five of the suburbs showing the lowest turnover were also in Greater Sydney, with Berala and Denistone topping the list with 1.9% and 1.7% respectively.
Victoria’s high-turnover suburbs fell within Greater Melbourne in new-build areas with Clyde North at the top with 10.5%. Next up were Mickleham (9.7%), Maddingley (8.8%) Brookfield (8.5%) and Wollert (8.3%).
The majority of low-turnover suburbs were also within Greater Melbourne, With Dandenong South, Plumpton and Brunswick East coming in with 0.4%, 1.5% and 1.7% respectively.
As with the previous 3, Queensland’s high-turnover suburbs were also located within the big city. Greater Brisbane has seen high levels of housing supply, apart from Newstead, where the 12.5% turnover was influenced by unit supply. Rochedale and Richlands came in at 11.8% and 11%, with suburbs outside of Greater Brisbane like Peregian Springs and Mausland showing turnover of 12.2% and 10.7%.
The lowest-turnover suburbs in Queensland were all outside of Brisbane. Clermont, Ingham and Charleville all saw a drop in turnover to 1.3%, 1.6%,1.7%, with Middlemount boasting the lowest turnover with 0.5%.
South Australia’s high-turnover suburbs all fall within Greater Adelaide, surprisingly with established housing stock, as opposed to its newer counterparts as seen in other large cities across Australia. Seaford Meadows came out on top with 9.1%, with Woodville West, Dover Gardens and Jurralta Park and Oaklands Park following with 8.6%, 7.6% and 7.5% respectively.
All of the lowest-turnover suburbs were outside of Greater Adelaide, with 80% of the, falling within Whyalla, a town with close ties to the resource sector. These suburbs were Whyalla Norrie, Whyalla Stuart, Whyalla and Whyalla Playford, each with 2.1%, 2.3%, 2.5% and 2.8%.
Greater Perth was home to four of the five best-performing suburbs, three of which were in areas of newer housing. Golden Bay (5.3%), Innaloo, Brabham and North Coogee (all with 5.2%) and South Hedland (5.1%) all came out on top.
The worst-performing suburbs were outside of the Greater Perth area. Tom Price, Derby, Lacelin and Merredin came in at 0.9%, 1.2% and 1.7%. These suburbs have strong ties to the resource, fishing and agricultural sectors respectively.
Brighton and Sorell came out on top in Tasmania with 7.6% turnover, with Midway Point and Old Beach following closely behind with 7.3% and 6.8%.
The majority of Tasmania’s lowest-performing suburbs are also within the Greater Hobart area – Battery Point (3.3%), West Hobart (3.6%) and Lenah Valley (3.9%). Outside of the city limits, Smithton and Norwood showed a turnover of 3.7%.
Fannie Bay and Durack were the only high-performing suburbs within the Greater Darwin area, each showing a turnover of 7.3% and 4.5% respectively. The remaining suburbs fell within Alice Springs – East Side with 6%, Gillen with 4.7% and Braitling with 4.5%.
The lowest-performing suburbs are all within Greater Darwin, starting with Moulden (2%) at the bottom, closely followed by Millner and Parap, Darwin city and Gray at 2.3%, 2.4% and 2.5% each.
Australian Capital Territory
ACT’s highest-performing suburbs largely fell within Canberra’s outer suburbs, including Coombs (11.4%) Casey (6.1) and Bonner (5.6%).
The Belconnen District was home to three of five of the ACT’s lowest-performing suburbs, which were Aranda (2.5%) and Giralang and Cook (2.7%). The remaining two were located in the city centre – Cook with 2.7% and City with 2.8%.