Prop tech firm InfoTrack has released its Property Market Update Q2 2024 report, naming the suburbs with the highest volume of sales to first home buyers from 1 April to 30 June 2024. Coming in at number one is postcode 2160 which covers Merrylands and Merrylands West.
InfoTrack spokesperson Sandra Falzon said the area has seen a boost in popularity.
“It’s always interesting to see a new suburb enter the Top 10 list, and especially so when it appears for the first time, in the number one position,” Ms Falzon said. “Merrylands and Merrylands West have seen a surge in development on the back of Western Sydney Council’s target to deliver 28,000 homes to ease the housing crisis. The area is also very convenient given it’s just over 20 kilometres from the Sydney CBD.”
Postcode 2170 is second in the Top 10, covering Casula, Chipping Norton, Liverpool, Mount Prestons, and Moorebank, up from seventh place in Q1 2024. Rounding out the top three is postcode 2560, which covers 19 suburbs including Airds, Campbelltown, Glen Alpine, Leumeah, St Helens Park and Woodbine.
“Greater Western Sydney continues to dominate sales, given its affordability, great amenities, and commutable distance to both the Sydney and Parramatta CBDs,” Ms Falzon said.
Notably, four postcodes that made the Top 10 for Q2 2024 were not named among the most popular locations during the previous quarter, including 2155 (covering Kellyville and Rouse Hill), 2140 (covering Homebush), 2770 (covering Bidwell, Mount Druitt, and Minchinbury) and 2217 (covering Beverley Park, Kogarah, and Ramsgate).
An increasing number of first home buyers are opting for strata properties as their first residence, with 54 per cent (%) buying a unit, up nearly 4% on Q1 2024.
The InfoTrack data also shows house purchases in New South Wales make up less than 60% of all residential transactions, down slightly on Q1 2024. Strata dwellings make up just over 32% of all residential transactions, up 1.19% on the previous quarter.
The full report can be viewed here.
