Australia’s top 10 most tightly held suburbs in 2023

• Houses in Clarinda were held for an average of almost 25 years.
• The most tightly held units were in Carlton North, kept for over 20 years.
• The drivers were varied, from gaining access to good schools, to strong community ties.

If you love where you live, there’s likely little impetus to move.

PropTrack has unveiled new data, showing which suburbs in Australia have seen homeowners hold on for the longest periods.

The top suburbs for tightly held houses included locations from across Sydney and Melbourne, with an average hold time of well over 20 years. The top suburb was Clarinda, seeing homeowners hold on for nearly a quarter of a century.

The unit market saw tightly held suburbs spread across NSW, Victoria, Queensland, and WA.

Top 10 most tightly held suburbs – Houses

Source: Proptrack.

Top 10 most tightly held suburbs – Units

Source: Proptrack.

“The most tightly held suburbs around the country tend to be in well-established, middle ring suburbs within a one-hour commuting distance of a capital city,” PropTrack economist, Anne Flaherty told The Property Tribune.

“Typically, they are popular with a broad range of people, from young families to retirees, with excellent amenity including schools and shops. They also tend to have strong lifestyle appeal, with green or waterfront spaces.”

Flaherty noted that with so few opportunities to buy in these locations, when homes do hit the market, they tend to perform well.

“Because of the tightly held nature of some of these suburbs, transaction evidence can be limited, making it more difficult to establish price trends. However, on balance, most of these suburbs have been out-performers for capital growth over the past decade due to their appealing locations and lifestyle attributes.”

“One of the standout characteristics of tightly held suburbs is that they appeal to people at different life stages, whether that be parents with young children or retirees. This is what keeps these owners in their homes for a longer period,” she added.

Ray White Forest Hill’s Hugh Francis told The Property Tribune that he believed Vermont was a tightly held market because of the very popular local schools. He noted that it was likely parents would buy up in the suburb, and stay for the duration of the child’s primary and secondary education.

In Springvale, Ray White Noble Park’s Allison Grant said properties in the suburb have been tightly held for quite a while, with one driver including familiarity.

“Properties in this area tend to stay within families or long-term owners for extended periods. The factors contributing to this are the established Asian cultural community and the amenities that create a sense of familiarity and comfort among residents,” she said.

“There are also limited new developments in the area, which restricts the supply of available properties for people to change; in either an effort to upscale or downscale. The cultural diversity and strong community ties also foster a sense of belonging that encourages long-term residency.”

“[I’ve observed] that older homeowners who have been living in the area for decades choose to stay due to emotional attachment and familiarity together with a lack of diversified aged care or retirement village options.

“Additionally, there exists a cultural inclination, particularly among Asian communities, to prioritise caring for family members at home which is viewed positively in their cultural context. There is an emerging trend of younger families showing interest in Springvale due to its affordability compared to some of the surrounding more expensive suburbs like Huntingdale, Clayton, Mulgrave and Glen Waverley.

Grant added that even if locals do choose to leave, many return each weekend to do their shopping and grab a bite at their favourite dining places.