Australian Homeowners Stay Put: New Report Highlights Suburbs With the Longest Tenure
Here are the suburbs we love not to leave – Australia’s most tightly-held areas
4 min
Australians are holding onto their homes for longer, as a new report reveals some of the suburbs that are the most tightly held in the country. The newly released Domain Tenure Report reveals house owners are staying put for an average of nine years, up from seven years in 2013. Apartment owners are holding their homes for an average of eight years, up from six years in 2013.
There are many reasons why tenure periods are lengthening in Australia. Across the capital cities, the most consistent tenure increases have been in Sydney and Perth houses and Sydney and Melbourne units. Housing affordability challenges are likely a factor in more home owners staying put in Sydney and Melbourne. Whereas in Perth, a long period of weak market conditions may have discouraged people from changing homes until they can sell for more than they bought. It’s cheaper to buy a house today in Perth than in any other capital city bar Darwin, so the increasing period of tenure may also reflect buyers’ ability to secure a ‘forever home’ on the first purchase.
The report notes that transactional costs associated with moving, such as stamp duty, can distort housing decisions and be a disincentive to move. “The financial burden of stamp duty can be linked to people’s willingness to change homes to suit their current needs,” according to the report.
A long average tenure period can also reflect a suburb’s high desirability or aspirational nature, perhaps due to its strong community, the style of housing, or a prized school catchment zone. Domain chief of research and economics, Dr Nicola Powell says: “There are certain areas that people tend to stay at for much longer and that’s because they are committed to the community. So, what you can find is that those tightly held areas are very hard to gain access to.” Dr Powell commented that in certain areas “people almost stalk for houses to come up since it means you’ll gain access into that suburb”.
A long average tenure can also indicate a lack of variation in local housing stock. Growing families may opt to renovate and/or extend their existing homes to suit their changing needs, thereby staying put longer. Would-be downsizers may also stay in larger homes for longer periods because there is a lack of smaller homes available in the area.
The areas with the longest average tenure periods across Australia’s capital cities are profiled below.
The suburbs we love not to leave
Strathfield-Burwood-Ashfield area, NSW (average tenure 13 years – houses)
Within the Strathfield-Burwood-Ashfield area is the suburb of Strathfield, which is known for its grand modernised Federation homes on generous blocks in wide, leafy streets. The suburb has a large number of schools including Strathfield Girls High School, Trinity Grammar, Santa Sabina College and St Patrick’s College. The area attracts older families with teenage children who want to buy forever homes in their preferred school catchments. The median price for a four bedroom house in Strathfield is $3.01 million, down 6.3% in 2023.
Whitehorse-East, VIC (average tenure 13 years – houses)
Balwyn North is the most populous suburb within the Whitehorse-East area. Located about 10km east of Melbourne CBD, it is one of the city’s most affluent suburbs. It is known for its wide, leafy streets, large parcels of land and post-war homes that have been modernised or knocked down and rebuilt over the years. Balwyn North offers close proximity to some of Victoria’s best private schools. The median price for a four bedroom house in Balwyn North is $2.345 million, up 2% in 2023.
Centenary, QLD (average tenure 14 years – houses)
Within the Centenary area of Toowoomba is the suburb of Centenary Heights, about 4km from the CBD. The suburbs attracts younger families on a budget looking for homes they can renovate or extend over time. It’s a great alternative to the pricier neighbouring area of Middle Ridge, with the median price for a four bedroom house in Centenary Heights being $615,000, up 13.5% in 2023.
Port Adelaide (average tenure 11 years – units)
The suburb of Port Adelaide has a strong maritime history and is home to the Techport naval construction base. It was developed in the 1800s and showcases some of the best preserved colonial buildings in South Australia. A sizeable part of the town centre is heritage-listed. Much residential development over the past decade has provided more apartments and townhouses, thereby attracting younger buyers who are also drawn to the thriving social and sporting scene. The median apartment price in Port Adelaide is $533,500, up 23% in 2023.
Joondalup, WA (average tenure 11 years – houses)
The suburb of Joondalup is about 26km north of Perth CBD. It is the primary urban centre of the outer northern suburbs and has its own train station, many parks and a coastal zone featuring Burns Beach in the north and Beaumaris Beach in the south. Joondalup began its journey to becoming Perth’s ‘city of the north’ in the 1980s, when many houses and businesses were established in the area. The median price for a four bedroom house in Joondalup is $633,000, up 2.9% in 2023.
North Canberra, ACT (average tenure 12 years – houses)
Within the North Canberra area is the suburb of O’Connor, which borders bushland on the edge of the CBD. O’Connor is a uniquely quiet residential area with a much-loved local village, yet is only 3km from the city centre. O’Connor is gentrifying as families seize the opportunity to buy quarter-acre blocks with 1950s homes that they can replace with architecturally designed dream homes in tranquil bush surrounds. The median price for a four bedroom house in O’Connor is $1.588 million, down 27.8% in 2023.
Litchfield, NT (average tenure 13 years – houses)
The Litchfield municipality is on the eastern and southeastern outskirts of the Darwin-Palmerston urban area. Within Litchfield is the suburb of Humpty Doo, a popular tourist spot on the way between Darwin and Kakadu National Park. The town has a thriving agricultural industry and the warm climate enables top-quality mangoes to be grown and picked earlier than Queensland fruit. The median price for a three bedroom house in Humpty Doo is $650,000, up 11.5% in 2023.
Hobart Inner (average tenure 8 years – houses)
Within the Hobart Inner area is Sandy Bay, an affluent residential suburb known for its natural beauty, with many homes enjoying spectacular panoramic water views. It is just 1km from Hobart CBD and offers a mix of historical homes and contemporary residences. It is home to many prestigious schools and has a vibrant restaurant and café scene. The median price for a four bedroom house in Sandy Bay is $1.51 million, down 9.9% in 2023.
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Mirvac’s 45-level Trielle has topped out at Yarra’s Edge, pairing riverfront apartments with wellness facilities, private dining and resident services.
3 min
Mirvac has topped out Trielle at Melbourne’s Yarra’s Edge, with more than 70 per cent of the riverfront development sold and approximately 80 per cent of purchasers intending to make their apartment a home.
The figures, released on September 22, point to an owner-occupier audience for one of the precinct’s final residential towers. Mirvac began developing Yarra’s Edge in 2003, and its latest addition occupies one of the remaining absolute riverfront sites.
Mirvac CEO of Development Stuart Penklis said existing residents were among those moving up within the neighbourhood.
“Many purchasers already have a connection to Yarra’s Edge,” Mr Penklis said, describing buyers whose changing needs were encouraging an upgrade within the precinct.
“As one of the final residential towers within Yarra’s Edge, Trielle represents the culmination of more than two decades of creating one of Melbourne’s most established and sought-after waterfront communities,” Penklis said.
“Positioned on the Collins Street axis with absolute river frontage, Trielle offers residents a rare opportunity to enjoy sweeping views across the Yarra River, Melbourne skyline and Port Phillip Bay, while remaining seamlessly connected to the CBD. With Trielle now more than 70 per cent sold, we’re continuing to see strong demand from buyers seeking quality homes in established locations.”
The developer also flagged a penthouse and sub-penthouse collection with larger layouts, premium finishes and broad outlooks. The planned wellness centrepiece, The Oasis, encompasses a 900-square-metre elevated urban rainforest.
Mirvac General Manager Residential Development Victoria Elysa Anderson said Trielle had resonated strongly with buyers seeking a rare lifestyle offering in Melbourne.
“Opportunities to secure a new luxury residence on a riverfront site of this calibre are incredibly rare, particularly within a community like Yarra’s Edge,” Anderson said.
“What makes Trielle unique is the combination of exceptional views, world-class residential facilities and the lifestyle that already exists around it. Residents are buying into a mature waterfront community with parks, promenades, dining, wellness and strong community connections already in place.”
The 45-level tower brings a substantial new presence to that waterfront. Its residential offering spans one-, two-, three- and four-bedroom apartments, with Signature, Prestige and Sub-Penthouse collections accommodating different household sizes. The north-facing position connects the apartments visually to the river and city beyond.
Seven storeys above the promenade, the planned Oasis combines planting and a running stream with a Scandinavian-inspired wellness club developed with spa specialist Naomi Gregory. Facilities include a 25-metre lap pool, hot magnesium pool, sauna, hydrotherapy, a gym, yoga and Pilates room, and treatment spaces.
The amenity extends beyond exercise. Residents will have access to The Biblioteca library and workspaces, ground-floor work pods, and The Salone piano lounge. A private Chef’s Table dining room offers a setting for larger gatherings, while a cinema, games room and sports lounge broaden the entertaining options. Concierge services and a dog-wash area support everyday routines.
Trielle comprises a collection of one, two, three and four-bedroom residences. Reflecting strong demand from owner occupiers, approximately 80 per cent of purchasers to date intend to live in their homes, highlighting the project’s appeal to those seeking a long-term waterfront lifestyle.
Mirvac has recently delivered The Albertine, a premium apartment development on the edge of Melbourne’s CBD, and is nearing completion of Prince & Parade in Brunswick, further strengthening its portfolio of thoughtfully designed apartment communities in some of Melbourne’s most sought-after urban locations.
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