Here are the best suburbs for off-the-plan projects

By Gerv Tacadena

Amid the housing downturn, buyers remain interested in purchasing off-the-plan properties, the latest market insight by Realestate.com.au found.

Amid the housing downturn, buyers remain interested in purchasing off-the-plan properties, the latest market insight by Realestate.com.au found.

Real.estate.com.au chief economist Nerida Conisbee told Yahoo! Finance that purchasing off-the-plan properties has gained traction amongst first-home buyers since it is relatively more affordable than buying established properties.

In fact, data from realestate.com.au show buyer interest in new housing and apartment development has increased by 11% and 6%, respectively.

"With a growing population and declining property prices, the ability to find and secure affordable housing continues to be a concern for many Australians," Conisbee said.

She added that the buyers are now considering other property-purchasing options due to the planned changes on negative gearing rules and the stricter lending rules as a result of the investigation of the royal banking commission.

The data also show that first-home buyers contribute to around 50% of the growth in new apartments in Queensland and South Australia. This demographic is also the primary driver of the growth in Western Australia.

Conisbee said several factors are attracting first-home buyers to off-the-plan properties.

"Aside from affordability, people are attracted to buying off-the-plan because of the modern features, the flexibility to choose floor plan and the fact that no-one else has lived in the property previously," she said.

Realestate.com.au identified 50 suburbs where off-the-plan properties are popular:

Victoria

New Houses

New Developments

Doncaster

Melbourne, 3000

Langwarrin

Melbourne, 3004

Lilydale

South Melbourne

Drouin

Southbank

Officer

Footscray

Western Australia

New Houses

New Developments

Doubleview

Perth

Scarborough

Fremantle

Floreat

Scarborough

Duncraig

Jolimont

Como

East Perth

South Australia

New Houses

New Developments

West Lakes

Bowden

Lightsview

Adelaide

Warradale

Hyde Park

Somerton Park

West Lakes

Christies Beach

Lightsview

New South Wales

New Houses

New Developments

Schofields

The Rocks

Kellyville

Dee Why

The Ponds

Wollongong

Epping

Sydney

Edmondson Park

Newcastle

Queensland

New Houses

New Developments

Newport

Palm Beach

Caloundra

Broadbeach

Rochedale

Kangaroo Point

Springfield Lakes

Burleigh Heads

Maudsland

Newstead

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