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MAKING NEWS
Sat, 30 August 2008
Australia's next property hotspots!
PROPERTY in regional Australia looks set to outperform the big cities, according to research by real estate analyst Terry Ryder.
Mr Ryder, who runs hotspotting.com.au and earlier this year compiled a list of places where decent property could be bought for under $200,000, said just two metropolitan suburbs made his list of top 10 “super hotspots”.
Mr Ryder said good transport links and booming infrastructure were the most common themes shared by places on the list.
"There are more new road and rail links being built and planned now than ever before, and that will be a driving force in regional property prices," he said.
He also looked at lifestyle factors - such as whether a town was a popular seachange location, and the effect of the resources boom.
Mr Ryder selected parts of the country that were on the cusp of growth which would drive up rent and house prices.
“As well as great growth prospects, they also have the added attraction of affordability and highlight the attractive opportunities that are available to savvy investors in the current market.”
“These are the locations where property investors should be buying now. Once they take off, it will be too late and the best buying and growth opportunities will be gone.”
The hotspots have been selected on the basis of their attraction for real estate investors, rather than owner-occupiers.
"It's a different set of criteria if you're looking for capital growth prospects rather than somewhere to live," he said.
The prices used in the list are typical sales prices for houses in the areas.
THE HOT SPOTS
Ballina-Yamba, NSW
Typical prices: $380,000 - $405,000
Bowen Hills, QLD
Typical prices: $395,000 - $490,000
Ceduna, SA
Typical prices: $185,000
Chippendale, NSW
Typical prices: $375,000 - $650,000
Geraldton, WA
Typical prices: $340,000
Gippsland: Latrobe Valley, VIC
Typical prices: $130,000 - $235,000
Gippsland: Lakes Region, VIC
Typical prices: $205,000 - $260,000
Hervey Bay, QLD
Typical prices: $295,000 - $385,000
Magnetic Island, QLD
Typical prices: $340,000 - $457,000
Surf Coast, VIC.
Typical prices: $435,000 - $700,000
Source: Hotspotting.com.au. Locations are listed alphabetically.
Close but no cigar
Towns that have probably already peaked include Beerwah in Queensland, Coburg in Victoria, Christies Beach in South Australia, Dandenong in Victoria, Footscray in Victoria, Gatton in Queensland, Ipswich in Queensland, Port Adelaide in South Australia and Tweed Shire in New South Wales.
news.com.au
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