Aussie suburbs where there’s a first homebuyer boom
New data from National Australia Bank reveals the Australian suburbs booming in popularity amongst first-home buyers.
These areas provide hope for those applying for a home loan and entering the property market for the first time.
Melbourne’s western and northern suburbs, and a northwest Sydney suburb top the list, but the data revealed locations in other states which are seeing first-home buyers making their nest.
NAB executive of home ownership, Andy Kerr says first-home buyers are looking for new opportunities in an evolving market.
"Value and location remain the two most important factors for first home buyers when looking to purchase their first property," Kerr said.
Despite the cost-of-living crisis and softening market conditions on our hands, the data shows that the rate of first-home buyers didn’t slow down in the second half of last year.
Instead, NAB suggests, Australians are taking advantage of falling house prices and government support schemes, like the First Home Owners Grant.
Where are Australian first-home buyers looking?
The following suburbs were the most popular areas for first-home buyers in Australia in the latter half of 2022.
Victoria
One in ten first-home buyers in Victoria bought in the western or northern suburbs of Melbourne, according to NAB.
These areas of growth have been bolstered by billions of dollars of investment in roads and transport infrastructure.
“First home buyers in Victoria continue to be attracted to growth areas to the north, west and south-east of Melbourne, with good amenities, growing transport links, new schools and parks and a more relaxed, suburban lifestyle,” said Kerr.
The top suburbs for first-home buyers in Victoria were:
1. 3029 – Hoppers Crossing, Tarneit and Truganina
2. 3064 – Craigieburn, Donnybrook, Kalkallo, Mickleham and Roxburgh Park
3. 3978 – Cardinia, Clyde and Clyde North.
New South Wales
Topping the list in NSW, the northwestern suburb of Schofields recorded a 63% jump in quarter-on-quarter demand in the second half of 2022, according to NAB.
This jump is attributed to the completion of several new housing developments and properties that were eligible for government scheme support.
“Schofields and Liverpool are some of the most in-demand suburbs for first home buyers in NSW, with new housing developments here falling within the price thresholds for a number of state government assistance schemes, and they have growing public transport options, retail and education precincts and parks in a suburban environment,” said Kerr.
The top NSW suburbs for first-home buyers were:
1. 2762 – Schofields
2. 2765 – Berkshire Park, Box Hill, Maraylya, Marsden Park, Nelson, Oakville, Riverstone and Vineyard
3. 2170 – Casula, Chipping Norton, Hammondville, Liverpool, Lurnea, Moorebank, Mount Pritchard, Prestons and Warwick Farm.
Queensland
In Queensland, suburbs surrounding ‘the Garden City’ of Toowoomba were hot property for those getting into the market for the first time, including Darling Heights and Drayton. The popularity of the regional city, says NAB, is due to an infrastructure boom.
“Toowoomba has been going from strength-to-strength in past years, attracting families with its quick commute to Brisbane, schools, laidback lifestyle and spacious land sizes. With billions of dollars of investment coming down the pipeline on the Inland Rail Link and a new Toowoomba Hospital, the Garden City is shaping up as an exciting place to buy and live,” said Kerr.
Three of Queensland’s top five suburbs for first-home buyers were regional – Toowoomba, Mackay and Bundaberg – outside of the Greater Brisbane area.
In Queensland, the top suburbs targeted by first-home buyers included:
1. 4350 – Toowoomba and its surrounds
2. 4207 – Beenleigh and Yarrabilba
3. 4300 – Springfield Lakes and Goodna.
Western Australia
According to Kerr, southeast Perth’s popularity amongst first-home buyers is growing due to its access to transport infrastructure, schools, and the natural environment.
“Perth’s southeast is growing rapidly, with good access to transport corridors and employment, as well as affordable and sustainable housing. Recently opened schools and access to parks and bushland give first home buyers in Harrisdale access to the suburban lifestyle with the chance to escape the hustle and bustle.”
WA’s top suburbs for first-home buyers were:
1. 6112 – Armadale and Harrisdale
2. 6061 – Balga and Nollamara
3. 6164 – Success and Cockburn Central.
South Australia
In SA, the southern suburbs of Adelaide proved to be the target of many first-home buyers, due to the transport infrastructure used to commute into the CBD and access to nature.
“Adelaide’s southern suburbs continue to be in-demand locations for South Australian first home buyers. Transport upgrades make Morphett Vale, Woodcroft and Hallett Cove even more attractive places to live and commute into the CBD. Mt Barker is a gem in the Adelaide Hills, providing easy access to growing amenities and fresh air.”
SA’s most popular suburbs for first-home buyers were:
1. 5162 – Morphett Vale and Woodcroft
2. 5158 – Hallett Cove and O’Halloran Hill
3. 5251 – Mount Barker.
Tasmania
In Tasmania, the most popular suburbs for first-home buyers were:
1. 7320 – Burnie, Acton and Camdale
2. 7011 – Berriedale and Chigwell
3. 7310 – Devonport and East Devonport.
Australian Capital Territory
In the ACT, the most popular suburbs for first-home buyers were:
1. 2602 – Dickson and Watson
2. 2913 – Casey and Franklin
3. 2617 – Bruce and Lawson.
Northern Territory
In the NT, the most popular suburbs for first-home buyers were:
1. 0810 – Nightcliff and Casuarina
2. 0870 – Alice Springs and Gillen
3. 0832 – Rosebery and Bakewell.
If you’re a first-home buyer you’ll want to be informed about the home loan process, especially when it comes to matters like home loan approvals. But before you go and submit an application, it’s important to compare home loan options. Get started with some of your options below, or head over to our award-winning home loans page to see the best home loans in Australia in 2023.
Home loan comparisons on Mozo - last updated 20 May 2024
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Featured Product
Mozo experts choice awards won:
- Low Cost Home Loan - 2024
Unloan Variable
Owner Occupier, LVR <80%
interest rate
comparison rate
Initial monthly repayment5.99% p.a. variable5.90% p.a.Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
CompareCompareUnloan Variable
Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
- interest rate
- 5.99% p.a. variable
- comparison rate
- 5.90% p.a.
- interest rate
- 5.99% p.a. variable
- comparison rate
- 5.90% p.a.
- Upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $0.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- Minimum loan amount
- $10,000
- Maximum loan amount
- $10,000,000
- Type of loan
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Unloan Unloan Variable
-
Basic Home Loan
Owner Occupier, LVR<60%, Principal & Interest
interest rate
comparison rate
Initial monthly repayment6.14% p.a. variable6.16% p.a.Enjoy a low rate home loan with $0 application fee and $0 ongoing fees. Flexibility to split your loan and set different repayment types. Fee free redraw from your loan using online banking. Flexible ways to repay. 40% Deposit required.
CompareCompareBasic Home Loan
Enjoy a low rate home loan with $0 application fee and $0 ongoing fees. Flexibility to split your loan and set different repayment types. Fee free redraw from your loan using online banking. Flexible ways to repay. 40% Deposit required.
- interest rate
- 6.14% p.a. variable
- comparison rate
- 6.16% p.a.
- interest rate
- 6.14% p.a. variable
- comparison rate
- 6.16% p.a.
- Upfront fees
- $350
- Ongoing fees
- $0.00
- Discharge Fee
- $400.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 60.00%
- Minimum loan amount
- $150,000
- Maximum loan amount
- $10,000,000
- Type of loan
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Macquarie Basic Home Loan
-
Featured Product
Mozo experts choice awards won:
- Low Cost Home Loan - 2024
Unloan Variable
Investment, LVR <80%
interest rate
comparison rate
Initial monthly repayment6.29% p.a. variable6.20% p.a.Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for investors. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
CompareCompareUnloan Variable
Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for investors. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
- interest rate
- 6.29% p.a. variable
- comparison rate
- 6.20% p.a.
- interest rate
- 6.29% p.a. variable
- comparison rate
- 6.20% p.a.
- Upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $0.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- Minimum loan amount
- $10,000
- Maximum loan amount
- $10,000,000
- Type of loan
- Variable
- Repayment types
- Principal & Interest
- Availability
- Investor
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Unloan Unloan Variable
-
Basic Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR<70%
interest rate
comparison rate
Initial monthly repayment6.25% p.a.
fixed 3 years6.20% p.a.No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.
CompareCompareBasic Home Loan
No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.
- interest rate
- 6.25% p.a.
fixed 3 years
- comparison rate
- 6.20% p.a.
- interest rate
- 6.25% p.a.
fixed 3 years
- comparison rate
- 6.20% p.a.
- Upfront fees
- $350
- Ongoing fees
- $0.00
- Discharge Fee
- $400.00
- Extra repayments
- yes - up to $10,000 p.a.
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 70.00%
- Minimum loan amount
- $150,000
- Maximum loan amount
- $10,000,000
- Type of loan
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Macquarie Basic Home Loan
-
Elevate
Owner Occupier, Principal & Interest, <80% LVR
interest rate
comparison rate
Initial monthly repayment6.09% p.a. variable6.20% p.a.Get competitive rates on loan terms of 5 to 30 years with the Aussie Elevate Home Loan. Structure your loan with up to five splits. Make additional repayments (T&Cs apply). Offset accounts available. Unlimited redraw using your online banking account. Choose from weekly, fortnightly or monthly payments For loan amounts from $10,000 to $5 million.
CompareCompareElevate
Get competitive rates on loan terms of 5 to 30 years with the Aussie Elevate Home Loan. Structure your loan with up to five splits. Make additional repayments (T&Cs apply). Offset accounts available. Unlimited redraw using your online banking account. Choose from weekly, fortnightly or monthly payments For loan amounts from $10,000 to $5 million.
- interest rate
- 6.09% p.a. variable
- comparison rate
- 6.20% p.a.
- interest rate
- 6.09% p.a. variable
- comparison rate
- 6.20% p.a.
- Upfront fees
- $498
- Ongoing fees
- $0.00
- Discharge Fee
- $325.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- Optional extra - $10 per month
- Maximum loan to value ratio
- 80.00%
- Minimum loan amount
- $10,000
- Maximum loan amount
- $5,000,000
- Type of loan
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Aussie Elevate
-
Flex Home Loan
Owner Occupier, Principal & Interest, LVR 60-70%
interest rate
comparison rate
Initial monthly repayment6.24% p.a. variable6.48% p.a.CompareCompareFlex Home Loan
- interest rate
- 6.24% p.a. variable
- comparison rate
- 6.48% p.a.
- interest rate
- 6.24% p.a. variable
- comparison rate
- 6.48% p.a.
- Upfront fees
- $250
- Ongoing fees
- $250.00 yearly
- Discharge Fee
- $300.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- yes
- Maximum loan to value ratio
- 70.00%
- Minimum loan amount
- -
- Maximum loan amount
- -
- Type of loan
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the ubank Flex Home Loan
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Fixed Rate Loan with Orange Advantage
Orange Advantage, Owner Occupiers, Principal & Interest, LVR <80%
interest rate
comparison rate
Initial monthly repayment6.09% p.a.
fixed 2 years6.16% p.a.Know exactly what your repayments will be, and you can fix your rate for up to 5 years. No monthly, annual fee or transaction fees. Free additional repayments (less than $10,000 p.a.). Valid for loans of $50,000 up to $2,000,000.
CompareCompareFixed Rate Loan with Orange Advantage
Know exactly what your repayments will be, and you can fix your rate for up to 5 years. No monthly, annual fee or transaction fees. Free additional repayments (less than $10,000 p.a.). Valid for loans of $50,000 up to $2,000,000.
- interest rate
- 5.99% p.a.
fixed 3 years
- comparison rate
- 6.12% p.a.
- interest rate
- 5.99% p.a.
fixed 3 years
- comparison rate
- 6.12% p.a.
- Upfront fees
- $299
- Ongoing fees
- $0.00
- Discharge Fee
- $250.00
- Extra repayments
- yes - free up to $10,000 pa
- Redraw facility
- no
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- Minimum loan amount
- $50,000
- Maximum loan amount
- $2,000,000
- Type of loan
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the ING Fixed Rate Loan with Orange Advantage
-
Fixed Rate
Owner Occupier, Principal & Interest, <80% LVR
interest rate
comparison rate
Initial monthly repayment6.54% p.a.
fixed 2 years7.10% p.a.Enjoy up to $3000 cashback for eligible first home buyers and $2000 cashback for refinancers on eligible home loans with the ANZ Fixed Rate Home Loan. Get the security of repayment certainty with a competitive locked in rate. No ongoing fees to pay. Offset account on 1-year fixed loans ($10/month fee applies). Interest-only payments allowed.
CompareCompareFixed Rate
Enjoy up to $3000 cashback for eligible first home buyers and $2000 cashback for refinancers on eligible home loans with the ANZ Fixed Rate Home Loan. Get the security of repayment certainty with a competitive locked in rate. No ongoing fees to pay. Offset account on 1-year fixed loans ($10/month fee applies). Interest-only payments allowed.
- interest rate
- 6.59% p.a.
fixed 3 years
- comparison rate
- 7.06% p.a.
- interest rate
- 6.59% p.a.
fixed 3 years
- comparison rate
- 7.06% p.a.
- Upfront fees
- $160
- Ongoing fees
- $0.00
- Discharge Fee
- $160.00
- Extra repayments
- yes - free up to to lesser of 5% of original fixed loan amount, or $5,000 each year
- Redraw facility
- no
- Offset account
- Optional - $10 per month - 1 year fixed term only
- Maximum loan to value ratio
- 80.00%
- Minimum loan amount
- $20,000
- Maximum loan amount
- -
- Type of loan
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- $3,000 cashback for eligible First Home Buyers, $2,000 cashback when you refinance loans of $250k+, apply from 1 Dec 2022, settle within 180 days.
Read our Mozo Review to learn more about the ANZ Fixed Rate
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Offset Home Loan
Package, Owner Occupier, LVR<60%, Principal & Interest
interest rate
comparison rate
Initial monthly repayment6.14% p.a. variable6.39% p.a.Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.
CompareCompareOffset Home Loan
Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.
- interest rate
- 6.14% p.a. variable
- comparison rate
- 6.39% p.a.
- interest rate
- 6.14% p.a. variable
- comparison rate
- 6.39% p.a.
- Upfront fees
- $350
- Ongoing fees
- $248.00 yearly
- Discharge Fee
- $400.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- yes
- Maximum loan to value ratio
- 60.00%
- Minimum loan amount
- $150,000
- Maximum loan amount
- $10,000,000
- Type of loan
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Macquarie Offset Home Loan
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Mortgage Simplifier
LVR<80%, Owner Occupier, Principal & Interest
interest rate
comparison rate
Initial monthly repayment6.14% p.a. variable6.17% p.a.Get a competitive variable rate with ING’s Mortgage Simplifier. Free extra repayments, no monthly or annual fees. Freedom to make free extra repayments or redraws.
CompareCompareMortgage Simplifier
Get a competitive variable rate with ING’s Mortgage Simplifier. Free extra repayments, no monthly or annual fees. Freedom to make free extra repayments or redraws.
- interest rate
- 6.14% p.a. variable
- comparison rate
- 6.17% p.a.
- interest rate
- 6.14% p.a. variable
- comparison rate
- 6.17% p.a.
- Upfront fees
- $299
- Ongoing fees
- $0.00
- Discharge Fee
- $250.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- Minimum loan amount
- $150,000
- Maximum loan amount
- $2,000,000
- Type of loan
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the ING Mortgage Simplifier
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