Hybrid work environments are changing and Australians are choosing to enter the real estate market, according to new lending data from one of Australia’s Big Four banks.
The new figures, from NAB, are broken down state by state where buyers are investing.
Despite a general cooldown in property sales in 2022, several metropolitan and regional areas are seeing strong growth in first-time homebuyer activity.
In NSW, Western Sydney is leading the way for early buyers.
But Sydney’s eastern beachside suburb of Maroubra proved most popular with early buyers, posting 269 per cent growth.
Granville, outside Paramatta, also showed significant growth.
That said, the Australian Capital Territory was home to the strongest growth in first-time homebuyer activity.
“The 2602 postcode in Canberra, including Ainslie and Watson, was up 360 per cent in the June quarter, compared to the previous quarter,” says a statement provided by NAB.
NAB Executive Home Ownership, Andy Kerr, contributes to the growth in this area with flexible work arrangements.
“Flexible working is one of the biggest trends of the last decade when it comes to changing the game for property sales,” Kerr said.
“The work-from-home option gives first-time homebuyers more choice when it comes to location.
“Suddenly a slightly longer trip when done several times a week becomes a serious consideration.
“Clearly the tree switch remains attractive to first-time homebuyers, with Sunbury in Victoria and Dapto in NSW once again a hotspot.”
Melbourne’s southeastern suburbs also drew a lot of attention, with Dandenong posting 80 per cent growth.
Brisbane’s Fortitude Valley also grew 78 per cent between April and June.
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