Hot 100 suburbs in Australian property market for 2024

Ready to become a home buyer? The Australian property market is a wonderful but volatile place. Home prices soared 5.5% last year nationwide and are expected to fly higher in 2024, despite high home loan interest rates .

Unfortunately, this means the size of the home loan you need has gotten larger; same with the home loan deposit. But this also means that 2024 could be an incredible year for capital gains and home equity .

So with no shortage of buyer demand, and surprisingly large supply of homes for sale, let's break into realestate.com.au's predictions for the Hottest 100 Australian suburbs to watch in 2024.

Property trends can be hard to predict, but the realestate.com.au Hot 100 uses hard data to find the Australian property markets with the most potential in 2024.

Winners are rated by a panel of industry experts based on their:

• Affordability.
• Lifestyle perks.
• Family living appeal.
• Location.
  
• Capital growth prospects for investors.
• Projected population growth.
• Demographic trends, including family and young worker growth, and gentrification.
• Infrastructure serviceability, whether it’s public transport or roads.

Affordability and capital growth may be top of mind for many first home buyers, but PropTrack emphasises that lifestyle factors, especially family-friendliness, help make a suburb 'hot' in 2024.

PropTrack also expects Adelaide and Perth to overshadow other capital cities, like Sydney, when it comes to strongest house price gains, mostly due to the impressively strong price growth they had in 2023.

However, PropTrack stresses that while there are no guarantees these Hot 100 suburb will perform, the list serves to highlight the choice of housing markets Aussie home buyers have.

"When it comes to looking to buy, people tend to focus their searches on areas they already know. But discovering new suburbs can help buyers broaden the range of areas they are willing to look in," says PropTrack economist Anne Flaherty.

"In the case where a buyer has been priced out of their desired suburbs, this can help in identifying more affordable areas offering them comparable attributes."

And since finding an affordable way into the property market is half the battle, especially in Sydney, Melbourne, and Canberra, the Hot 100 list gives keen home buyers a place to start.

New South Wales (NSW)

Victoria (VIC)

Queensland

South Australia (SA)

Western Australia (WA)

Tasmania (TAS)

Australian Capital Territory (ACT)

Northern Territory (NT)

Hoping to become a home buyer in 2024? Compare low interest rate home loans below to get started.