According to Paul Ryan, Senior Economist at PropTrack, the level of demand in the later stages of the home-buying process can be measured by query data, considered a leading indicator of market activity.

He notes that the increase in demand is often closely tied to rising prices, highlighting the intense competition in the real estate market. Earlier this year, a shortage of available properties for sale concentrated buyer demand, a key factor driving market price increases.

However, with an increase in listings during the spring season, the market is gradually balancing, providing some relief for buyers.

The suburbs with the highest demand are primarily concentrated in Sydney and Brisbane, correlating with both cities experiencing a property price increase of over 7% this year. Data indicates that buyers are seeking space and affordability, leading to significant demand for suburbs on the outskirts that offer large properties, entry-level price points, or a combination of both.

In Holgate on the Central Coast of New South Wales, each property listing has a query volume as high as 95, making it one of the most in-demand suburbs in Australia.

Holgate attracts buyers with its expansive space, privacy, and proximity to amenities such as shops, schools, and beaches. Despite a relatively low number of properties in Holgate, demand is strong, with many buyers having lived there for decades.

In Chandler, southeast of Brisbane, the availability of large residences has been a key factor attracting buyers. These suburbs offer 2.5-acre blocks, allowing buyers to easily access the city and bay while enjoying a large property.

Suburbs experiencing a surge in demand include Burbank, Forestdale, and Kingsholme, reflecting buyers' new preferences for lifestyle.

Meanwhile, some suburbs farther from the city center have also seen an increase in inquiry levels amid rising interest rates and property prices. Suburbs on the outskirts of Melbourne, such as Pakenham Upper, Belgrave, and Selby, show a demand level similar to other major cities, indicating a desire for more space.

Affordability is a noticeable trend among the fastest-growing suburbs in demand. Suburbs in Sydney like Yennora, Eastlakes, and Bardwell Valley have seen a substantial increase in inquiry volumes for each property listing, and these areas generally have lower property prices.

In Melbourne, suburbs like Campbellfield, Beaconsfield, and Travancore have seen the most significant increase in unit inquiries, with property prices typically below the city median of $626,000.

Paul Ryan notes that higher interest rates have prompted buyers to broaden their search for housing to relatively lower-priced, less well-known suburbs.

He points out that, under challenging affordability conditions, many are changing their traditional housing choices. Over the past year, high demand for expensive suburbs has been closely linked to price growth, indicating a resurgence in the upper end of the market.