Where to enjoy a happy new year in 2024: Australia's top property suburbs

December 15, 2023

Are you one of the many people keen to achieve the Great Aussie Dream of buying a home in 2024 - but don't know where to start?

Never fear, Listing Loop has done the hard yards for you, finding you the nation's top suburbs in which to buy in 2024.

Let's take a look.

New Year property market outlook

Generally speaking, it appears the worst of the extensive cash rate rises are now over - although don't be surprised if we see more increases in 2024 and don't expect interest rates to drop anytime soon.

Also, generally speaking, the property market is starting to normalise following the extraordinary price spikes of the COVID era and across 2022-2023.

But CoreLogic's Best of the Best 2023 report, released just this week, noted the Aussie property market was put to the test in 2023.

"The pressure of climbing interest rates, stretched affordability, and the 'fixed-rate cliff' stress tested the housing market through 2023; however, resilience largely prevailed," the report stated.

"This year was also marked by staggering levels of net overseas migration, largely influenced by the disruption that COVID-related border closures had on migration patterns."

At the same time, CoreLogic head of research, Eliza Owen, said recent deterioration in a range of market metrics is pointing towards a more subdued residential housing market in 2024, especially for capital growth.

"We've seen the pace of capital growth ease gradually from June and most notably through November," she said.

In CoreLogic's latest Home Value Index (HVI) report this month, Sydney's home value growth slowed sharply with prices only rising 0.3% in November - the smallest monthly gain through the recovery cycle to date. 

Similarly, Melbourne's monthly house price values dropped to below zero (-0.1%).

On the flip side, Perth housing values accelerated in November, posting the largest monthly gain since March 2021 at 1.9%. Brisbane (1.3%) and Adelaide (1.2%) also stand out with a resilient and rapid pace of growth.

CoreLogic research director, Tim Lawless, said these three cities continue to show remarkably low levels of advertised supply while purchasing activity is holding above-average levels.

Saying this, make no mistake - the majority of our capital cities have all recorded high-value growth levels across 2023 with Sydney achieving a 10.2% increase - the highest in the country.

Only Hobart, Darwin and Canberra recorded value declines (-3%, -1.5% and -0.3% respectively).

Australia's top property suburbs
Australia's top property suburbs are seeing a more subdued housing market in 2024, with slowed growth in Sydney and Melbourne, but accelerated values in Perth, Brisbane, and Adelaide.


John McGrath picks - Market Report for 2024

  • Fairfield
  • Gordon
  • Glenorie
  • Curl Curl
  • Chifley
    • Engadine
    • Northmead
    • Mortdale

    Aus Property Professionals picks:

    • Coogee
    • Kingsford
    • Kensington


    John McGrath picks - Market Report for 2024

    • Flemington
    • Point Cook
    • Spotswood
    • Elsternwick

    Australian Property Investment (API) picks:

    • Yallambie
    • Croydon South
    • Heathmont

    Aus Property Professionals picks:

    • Caulfield
    • Elsternwick 
    • Ormond


    John McGrath picks - Market Report for 2024

    • Hamilton
    • Albion
    • Clontarf

    Australian Property Investment (API) picks:

    • Alexandra Hills
    • Capalaba 
    • Carseldine

    Aus Property Professionals picks:

    • Teneriffe
    • New Farm 
    • Ascot


    Australian Property Investment (API) picks:

    • Banks
    • Chifley
    • Gowrie
    • Hawker

    Aus Property Professionals picks:

    • Chisholm


    Australian Property Investment (API) picks:

    • Meadows
    • Nairne
    • Woodside

    Aus Property Professionals picks:

    • Craigmore


    Australian Property Investment (API) picks:

    • Eden Hill
    • Edgewater
    • Greenmount

    Aus Property Professionals picks:

    • Baldivis


    John McGrath picks - Market Report for 2024

    • Acton Park
    • Moonah

    Australian Property Investment (API) picks:

    • Lauderdale
    • Lindisfarne
    • Risdon Vale

    Aus Property Professionals picks:

    • Glenorchy


    Australian Property Investment (API) picks:

    • Howard Springs
    • Humpty Doo
    • Wanguri

    Aus Property Professionals picks:

    • Bakewell

    We're here to help

    Whatever your property plans are for 2024, rest assured Listing Loop can help you!

    As Australia's leading marketplace for off-market and pre-market listings, you'll be ahead of the buyer competition before you even start the purchasing process.

    Listing Loop members can gain free access to our hub of properties plus a range of services including home loans, expert property buying support, conveyancing, utility connections and specialised property financing solutions. 

    So, sign up today for this access, or for more personalised support, learn about our BUYER ASSIST service here.

    Happy New Year!


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