PHOTO: Melbourne’s blue-chip suburbs were popular this year. Source: Supplied
Victorians splashed their cash on blue-chip suburbs in 2019.
A-grade areas including Toorak, Brighton, Richmond and South Yarra were some of the most popular spots with buyers this year.
Toorak jumped into realestate.com.au’s 10 most-searched suburbs, while affordable areas Pakenham and Werribee fell off the 2019 list after being there last year.
The website’s chief economist Nerida Conisbee said buyers had taken advantage of price drops caused by the downturn.
”It’s quite different to where we were two years ago, when we were seeing more affordable locations like Briar Hill, Montmorency and Seville coming up,” Ms Conisbee said.
“What’s happening is that prices have come down and people can get cheaper finance, so they see it as an opportunity to get into those markets before they really start to roar ahead again.”
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