Zuccoli tops first-home buyer suburb rankings in NT

Cooper & Co has ranked Zuccoli in the Northern Territory as Australia's top suburb for first-home buyers using the 5% Deposit Scheme. The study assessed 1,189 eligible suburbs across major cities and regional centres.

Zuccoli, in Greater Darwin, recorded the highest composite score at 89.6 out of 100. The suburb had a median house price of AUD $715,000, annual price growth of 34.9%, a median selling time of 14 days, and 821 interested buyers.

The ranking shows a strong concentration of highly placed suburbs in the Northern Territory. Eight of the national top 10 were in Greater Darwin, with Woodroffe, Anula, Bakewell, Gunn, Gray, Leanyer, and Karama joining Zuccoli on the list.

Woodroffe ranked second with a score of 87.5, supported by a median price of AUD $605,000, price growth of 32.2%, and 15 days on market. Anula placed third on 86.2, with a median price of AUD $680,000 and annual growth of 25.9%.

Bakewell came fourth on 86.1, followed by Gunn on 85.9 and Gray on 85.4. Gray posted the fastest annual price growth in the top 10 at 36.1%, while Leanyer ranked seventh on 84.6 and Karama placed 10th on 83.0.

The only suburbs outside the Northern Territory to make the national top 10 were Newcomb and Corio in Victoria. Both are in the Geelong area and ranked eighth and ninth, respectively.

Newcomb recorded the highest buyer demand among the top 10, with 1,636 interested buyers. It had a median house price of AUD $630,000, annual price growth of 13.5%, and a median of 19 days on market, producing a composite score of 83.6.

Corio followed with a score of 83.2. Its median house price was AUD $575,000, with annual growth of 17.4%, 1,579 interested buyers, and a median selling time of 28 days, the longest among the top 10 suburbs.

How it was measured

The index used four weighted measures to score eligible suburbs. The affordability ratio accounted for 40% of the score, 12-month price growth for 30%, days on market for 15%, and buyer demand for 15%.

The affordability ratio was based on median house price divided by state annual median household income. Lower affordability ratios and shorter selling times were inverted in the scoring model so higher scores represented stronger results across all measures.

Only suburbs that met the scheme's price cap for their region and had at least 10 property sales in the previous 12 months were included. The final ranking covered 1,189 suburbs from an initial national pool filtered using Housing Australia capital city and regional centre settings.

For Greater Darwin, the study used a price cap of AUD $750,000. It found 30 suburbs in that market fell below the threshold, creating a sizeable pool of eligible locations for first-home buyers.

Victoria's cap was set at AUD $950,000, leaving both Newcomb and Corio well below the ceiling. Newcomb sat more than AUD $300,000 under the cap, while Corio was lower still at AUD $575,000.

Luke Rainsbury, General Manager, Cooper & Co, said the results showed a shift away from the markets that usually dominate housing discussion. "The data highlights how much opportunity sits outside of the traditional east-coast capitals that usually dominate the conversation about first-home buyers," he said.

He said Greater Darwin suburbs featured prominently because they combined eligibility under the scheme with strong market indicators. "The findings suggest Zuccoli, Woodroffe, and Anula, all in NT's Greater Darwin, are where some of the best opportunities for first-time buyers are, with prices sitting comfortably under the cap, strong price growth, and homes don't stay long on the market. With homes in the top 10 selling in as little as 14 days, these are hot markets for first-time buyers who can move quickly. And as a homewares brand, we're watching that shift closely. We'd expect first home buyers moving into these suburbs to be furnishing from scratch, so demand for considered, affordable pieces likely follows wherever that activity is concentrated."

The study used suburb data from realestate.com.au profiles for median house price, annual price growth, days on market, and buyer interest. It also noted some limits in the model, including the use of Statistical Area Level 4 regions to approximate scheme boundaries and state-level household income figures rather than suburb-level income.

The ranking reflects relative standing within the group of suburbs that qualified for the scheme rather than a measure of absolute affordability. Zuccoli finished top of that national cohort with a score of 89.6.