City apartments are back in favour among both owner-occupiers and investors, while families are seeking large homes in affordable pockets on the back of rising interest rates.
 
New PropTrack data shows units in urban hubs and houses on the fringes of our capitals are highly sought-after among serious or highly-engaged buyers.
 
Melbourne's inner-city suburbs have been particularly popular among unit buyers over the 12 months to May 2023, while those seeking houses have been swarming to the city's outer suburbs, which have recorded some of the highest interest levels in the country.
 
"Given how quickly interest rates have risen, we would expect to see some buyers looking into more affordable regions. We'd also expect more affordable cities like Brisbane, Perth and Adelaide to be attractive to buyers, particularly if they're able to work remotely. 
But while lists of the most in-demand suburbs go some way to telling the story of what buyers are after, Mr Moore said that some suburbs are pushed higher up the list because they are large and attract more buyers due to having more listings. Melbourne homes popular in both the inner city and outer fringes. 
Migration flow from the regions to the cities rose from 9.2% in March 2022 to 10.1% in March 2023, while relocations between cities rose from 64.6% to 65%, according to CBA's Regional Movers Index.
 
 Buyers seeking larger homes in affordable urban pockets.
 
In terms of houses, buyers are swarming to suburbs on city fringes that offer large homes at relatively affordable prices.
 
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