WANT to pick the suburb where you have the best chance of making a profit?
Well get in your car and start driving because they are all outside the CBDs of our capital cities.
The latest hotspotting report on Australia’s top ten suburbs to buy in for future capital growth, has revealed it is the outer suburbs or regional areas where the money is to be made.
According to Terry Ryder of hotspotting.com.au the ten suburbs are the “pick of the crop”, the best spots in Australia for investors seeking capital growth.
“They are places on the cusp of a phase of good capital growth,” he said.
“They’re the locations with identifiable drivers of demand for real estate which will place pressure on prices and rents.”
Mr Ryder expects them to show growth this year and well beyond.
The winners are;
Albury-Wodonga: About 555km southwest of Sydney the area made the list because it is considered a boom town undergoing urban renewal. It has a strong diverse economy, steady population growth, $200 million worth of development proposed for the Wodonga CBD and plans for a town of 35,000 near Wodonga. Typical house price: less than $260,000, typical unit price: less than $165,000.
Armadale precinct: The area 30km southeast of Perth CBD, is an ugly ducking, it was once shunned as down-market but was now considered trendy. It is affordable, has a strong price growth record and strong population growth. The Metropolitan Redevelopment Authority is focusing on the region. Typical house price: between $253,000 and $440,000.
Cairns: The far north Queensland town has strong population growth and its tourism industry is undergoing a revival. There has been an increase in overseas flights, Chinese investment and tourism, and major infrastructure. Typical house price: $265,00 to $440,000. Typical unit prices: $153,000 to $352,000.
Blacktown: The area in the western suburbs of Sydney is a “cheapies with prospect”. Mr Ryder said it was the fastest growing local government area in New South Wales and had affordable houses plus a lot of new infrastructure planned. Typical house price: $380,000 to $467,000. Typical unit price: $318,000 to $430,000.
Dubbo: The town 400km northwest of Sydney is considered a boom town by Mr Ryder. He said it was a strong regional centre with gold, coal and other mining venues driving the economy. Typical house price: $285,000. Typical unit price: $210,000.
Ipswich city: the region southwest of the Brisbane CBD will benefit from substantial government spending on transport, expansions to the RAAF base and growth in industrial estates. Typical house price: $234,000 to $299,000.
Redcliffe: The waterfront suburb on the northern bayside of Brisbane is affordable and emerging from its image as a down-market retirement enclave. Plans are a foot for a bridge link and a rail link. Typical house price: $330,000 to $705,000. Typical unit price: $310,000 to $390,000.
Sunshine Precinct: The precinct in the western suburbs of Melbourne is listed by Mr Ryder as an ugly duckling. It is undergoing major infrastructure spending. Typical house price: $330,000 to $400,000. Typical unit price: $207,000.
Sunshine Coast: The region, about 100km north of Brisbane, is being driven by strong population growth and massive infrastructure spending, including hospitals, university and retail. Typical house price: $315,000 to $720,000. Typical unit price: $221,000 to $440,000.
Westmead: The area, 21km north west of Sydney is undergoing massive expansion of its medical and educational infrastructure. Mr Ryder said it as also an ugly ducking which had now become trendy. Typical house price: $535,000 to $670,000. Typical unit price: $367,000 to $420,000.