By Brendan Casey

The top Australian suburbs to find a renovator’s dream has been revealed in new data from realestate.com.au. Source: Supplied

The Federal Government’s HomeBuilder scheme has put home renovations back in the spotlight.

Under the scheme, homeowners looking to spruce up their houses and apartments could be eligible for a $25,000 grant to cover the cost of the job.

This means more Aussies could be in the market for a dream fixer-upper — and a new report has revealed the key areas where they should be looking to buy in each state.

Realestate.com.au data has analysed current listings to find the suburbs that have the highest proportion of renovation-ready properties.

Realestate.com.au has identified the suburbs with the highest proportion of renovation-ready properties Source: Supplied

Lethbridge Park in Sydney and Frankston North in Melbourne were found to be the best spots to look.

In both suburbs, 70 per cent of all property listings were ready to be renovated.

However, there are key things potential renovators should remember if they hope to take advantage of the HomeBuilder handout before the September 31 deadline, realestate.com.au’s chief economist Nerida Conisbee said.

“It is highly likely that the HomeBuilder scheme will increase demand for fixer-uppers, but home renovators will need to move quickly as the grant is only available for a short period of time. Given that it usually takes a little while to buy a property, this could be a challenge,” told news.com.au.

Alycia and Nick Chapman at their Clayfield home they are about to renovate. Source: Supplied

And finding a bargain will be key, as the government’s price cap will narrow the field for potential renovators.

“If you are renovating an existing property it needs to be valued at less than the national price cap of $1.5 million. This will exclude many suburbs in inner Brisbane, for example, and for cities like Sydney, it will exclude large proportions of the city,” Ms Conisbee said.

“For suburbs with large numbers of properties available requiring a renovation, price caps and income limits may be a challenge.”

According to realestate.com.au’s data, affluent Albert Park in inner Melbourne has a large number of renovation-ready homes, but it may not be an option for HomeBuilder applicants.

There are limits on the properties that are eligible for HomeBuilder grants. Source: Supplied

“Albert Park has a median house price of $2.065 million so the price cap is likely to be an issue, while individual applicants need an annual income of less than $125,000, and couples are required to earn less than $200,000. This will exclude many households in Albert Park,” Ms Conisbee said.

“The other important point to remember is that investment properties are excluded. This means that you can’t buy a property to renovate to rent out.”

Realestate.com.au analysed listings by searching for properties that included keywords such as “renovate”, “renovation” and “STCA” (subject to council approval).

It then ranked suburbs based on the percentage of overall properties that were considered ideal for renovations.

Suburbs in Sydney’s west dominated the national top 10 list.

Lethbridge Park (NSW) and Frankston North (Victoria) came out on top with 70 per cent.

They were followed by North St Marys (NSW) with 67 per cent, Hebersham (NSW) with 64 per cent, Oakhurst (NSW) with 62 per cent, Kandos (NSW) with 59 per cent, Tregear (NSW) and Sadliers Crossing (Queensland) both with 58 per cent, Kings Langley (NSW) with 57 per cent and Raby (NSW) with 55 per cent

The top Australian suburbs to find a renovator’s dream has been revealed in new data from realestate.com.au. Source: Supplied

These are the top suburbs in each state and territory.

NEW SOUTH WALES

1. Lethbridge Park 2770 (70 per cent)

2. North St Marys 2760 (67 per cent)

3. Hebersham 2770 (64 per cent)

4. Oakhurst 2761 (62 per cent)

5. Kandos 2848 (59 per cent)

6. Tregear 2770 (58 per cent)

7. Kings Langley 2147 (57 per cent)

8. Raby 2566 (55 per cent)

9. Dover Heights 2030 (55 per cent)

10. Freemans Reach 2756 (54 per cent)

SOUTH AUSTRALIA

1. Angaston 5353 (50 per cent)

2. Happy Valley 5159 (50 per cent)

3. Hawthorndene 5051 (42 per cent)

4. Aberfoyle Park 5159 (41 per cent)

5. Panorama 5041 (40 per cent)

6. Wirrabara 5481 (40 per cent)

7. Beaumont 5066 (36 per cent)

8. Glenelg East 5045 (35 per cent)

9. Parkside 5063 (33 per cent)

10. Blyth 5462 (33 per cent)

WESTERN AUSTRALIA

1. Glen Forrest 6071 (50 per cent)

2. Northcliffe 6262 (47 per cent)

3. North Lake 6163 (42 per cent)

4. Greenmount 6056 (41 per cent)

5. Greenwood 6024 (40 per cent)

6. Guildford 6055 (38 per cent)

7. Gooseberry Hill 6076 (38 per cent)

8. Mount Nasura 6112 (38 per cent)

9. Medina 6167 (38 per cent)

10. Dalkeith 6009 (37 per cent)

ACT

1. Wanniassa 2903 (46 per cent)

2. Farrer 2607 (42 per cent)

3. Evatt 2617 (40 per cent)

4. Curtin 2605 (37 per cent)

5. Mawson 2607 (32 per cent)

6. Holder 2611 (30 per cent)

7. Ngunnawal 2913 (23 per cent)

8. Griffith 2603 (22 per cent)

9. Campbell 2612 (21 per cent)

10. Yarralumla 2600 (21 per cent)

QUEENSLAND

1. Sadliers Crossing 4305 (58 per cent)

2. Petrie Terrace 4000 (53 per cent)

3. Newtown 4305 (50 per cent)

4. Herston 4006 (50 per cent)

5. Grange 4051 (47 per cent)

6. Mount Gravatt 4122 (45 per cent)

7. Keperra 4054 (44 per cent)

8. Wavell Heights 4012 (41 per cent)

9. Jindalee 4074 (41 per cent)

10. Camira 4300 (41 per cent)

VICTORIA

1. Frankston North 3200 (70 per cent)

2. Mount Dandenong 3767 (50 per cent)

3. Canterbury 3126 (47 per cent)

4. Ivanhoe East 3079 (45 per cent)

5. Doveton 3177 (44 per cent)

6. Cockatoo 3781 (43 per cent)

7. Upwey 3158 (43 per cent)

8. Albert Park 3206 (41 per cent)

9. Brooklyn 3012 (40 per cent)

10. Eumemmerring 3177 (39 per cent)

NORTHERN TERRITORY

1. Driver NT 0830 (39 per cent)

2. Woodroffe 0830 (38 per cent)

3. Fannie Bay 0820 (33 per cent)

4. Rapid Creek 0810 (32 per cent)

5. Moulden 0830 (31 per cent)

6. Malak 0812 (30 per cent)

7. Karama 0812 (28 per cent)

8. Coconut Grove 0810 (16 per cent)

9. Woolner 0820 (15 per cent)

10. Howard Springs 0835 (13 per cent)

TASMANIA

1. Battery Point 7004 (50 per cent)

2. Triabunna 7190 (46 per cent)

3. Moonah 7009 (46 per cent)

4. West Moonah 7009 (38 per cent)

5. Dynnyrne 7005 (36 per cent)

6. Lindisfarne 7015 (35 per cent)

7. Huonville 7109 (33 per cent)

8. Bellerive 7018 (33 per cent)

9. Sandy Bay 7005 (32 per cent)

10. New Town 7008 (30 per cent)

Originally published as HomeBuilder: Best Australian suburbs to find a property to renovate