The downturn in the Australian property market is turning the corner, but certain Australian areas are expected to soar in value more than others.
So as the Southern Hemisphere goes into Spring, overseas property investors need to know which Australian areas are predicted to spring back the fastest.
According to Australian property website hotspotting’s Winter Price Predictor Index, there are ten particular local Australian areas where home values are set to skyrocket over the next nine to 12 months.
According to hotspotting, Canberra is the strongest real estate economy in Australia, with the nation’s highest average incomes and the lowest unemployment. It is challenging Victoria as No.1 on population growth, it has low vacancies and it often leads on rental growth.’
Victoria is also seen as one the strongest Australian areas, and Bendigo is now the leading market in Victoria in terms of the number of suburbs with rising demand, having overtaken other strong markets like Geelong and Ballarat.
Many Bendigo suburbs have median prices in the $300,000s, emphasising the city’s affordability.
Brisbane North QLD
The Brisbane North precinct is the most active part of the Brisbane market, which is poised for stronger growth. This middle-ring area has 10 suburbs with rising sales demand, including Alderley… its median prices have risen 5 per cent for houses and 22 per cent for units.
Other growth suburbs include Boondall, Chermside West, Everton Park, Kedron, McDowall, Sandgate, Stafford, Stafford Heights and Wavell Heights. These are all middle-market areas with median prices in the $600,000s and $700,000s.
Charles Sturt, SA
The Charles Sturt LGA extends north-west from central Adelaide out to the beaches and includes a range of good suburbs, including eight Australian areas where sales activity is rising steadily.
These includes Prompton, Findon, Seaton, Flinders Park, Woodville South, and Fulham Gardens, Ryder said, as well as Henley Beach and West Beach.
Good price growth is happening in this area, including Henley Beach South.
The Joondalup LGA continues to be one of the stand-out Australian areas for its steadiness and resilience against the Perth downturn and is poised to lead the city’s market recovery.
Growth markets include Burns Beach, Duncraig, Edgewater, Greenwood, Joondalup, Mullaloo and Padbury, many of which offer good affordability.
The City of Melville in Perth’s inner south is one of the precincts leading the market fightback in the WA capital. It has seven growth markets and seven consistent performers.
Suburbs with rising sales demand include Attadale, Bull Creek, Kardinya, Leeming, Mt Pleasant and Palmyra.
Adelaide continues to rank well ahead of Sydney, Melbourne and Brisbane, as well as the recovering Perth market, in terms of the number of growth suburbs, according to hotspotting.
The Marion LGA, a middle-market area in the south-west of Adelaide which has been a market leader for the past 18 months, is once again a standout market – indeed one the Australian areas that rank nationally.
Eight suburbs to look out for with rising sales patterns are: Ascot Park, Edwardstown, Glengowrie, Hallett Cove, Marion, O’Halloran Hill and Seacombe Gardens. Warradale makes our National Top 50 list of rising suburbs.
Port Adelaide Enfield, SA
The Port Adelaide Enfield LGA emerged in 2018 as an up-and-coming market in the SA capital – and continues to be one of the busiest precincts in Adelaide.
Data from hotspotting reveals seven suburbs with rising activity, including Croydon Park, Dernancourt, Greenacres, North Haven, Rosewater and Royal Park. Dernancourt features in our National Top 50 list.
Onkaparinga is one the Australian areas that always features prominently in the hotspotting analysis of the Adelaide market.
The seven suburbs with growth momentum are Aldinga Beach, Christies Beach, Hackham, Happy Valley, Old Reynella and Seaford.
This LGA ticks a lot of boxes for investors: it has lifestyle, affordability, improved transport links, economic growth drivers, population growth and proximity to major jobs nodes.
Sunshine Coast, QLD
The Sunshine Coast continues to be the strongest of the Queensland markets, both in terms of rising sales activity and price growth. It’s rising while the more high-profile Gold Coast market is falling.
The suburbs to look out for are Landsborough, Little Mountain Eumundi, Sunshine Beach, Twin Waters and Wurtulla.