The most popular suburbs for house hunters

They are hunting for homes that do not need renovation, as the rising cost of building materials and the shortage of builders was making it less attractive to buy a fixer upper, agents said.

Woodards Carlton North partner Glenn Bartlett said active buyers in the market include the usual mix of first home buyers, downsizers and those looking to upgrade.

Fitzroy was the most searched suburb for houses.Credit:Wayne Taylor

“Everyone is finding buyers are a bit more hesitant with taking on a larger renovation just because of the costs of building,” Bartlett said.

While there are “a smattering” of investors, the lion’s share of buyers now are owner-occupiers, he said.

Jellis Craig Port Phillip director and auctioneer, Simon Gowling, who sells in the Albert Park and Middle Park areas, said buyers sick of the post-pandemic traffic are looking for somewhere with quieter streets.

“We have noticed quite a surge of buyers from more congested areas like Armadale and South Yarra,” Gowling said.

Albert Park is the second-most searched suburb in Melbourne, compared to the number of homes for sale.Credit:iStock

“The traffic is just getting really bad. People are still wanting to be close to the city, and to be able to travel to the Mornington Peninsula or the Bellarine Peninsula but not have the congestion at home.”

Gowling said buyers were keen to snap up period-style homes in these suburbs which have strict heritage overlays that protect them from overdevelopment or inappropriate builds.

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“Because there are restrictions on what can be built in the area, often demand outstrips the supply of homes for sale,” he said.

Although most of the neighbourhoods that ranked highly are in the inner suburbs, the Mornington Peninsula also made an appearance.

The area was a lockdown hotspot for remote workers who could spend more time by the beach, and potential buyers are still showing interest in the more secluded neighbourhood of Flinders, on the opposite side of the peninsula to better-known Portsea and Sorrento.

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