Population growth and big infrastructure spending in these areas have earned them a place on the list for increased property prices this year. Property analyst Terry Ryder of hotspotting.com has named his ten best locations for future capital growth.
Queensland figures prominently, with four areas in the list, followed by New South Wales and Victoria with two each, then Western Australia and South Australia, with one location each.
Mr Ryder says the locations are the “pick of the crop’’ and are tipped to outperform the general market.
“These locations are considered to have growth drivers that will achieve capital growth above the norm in the near future,’’ he says.
BRISBANE NORTHSIDE, QLD
The area includes a mix of
affordable suburbs and middle-market suburbs, good transport links and is close to major job nodes. Sales volumes are rising in a number of the suburbs.
Typical prices for a house in the area range from $410,000 for a house in Brighton to $536,000 for a house in Nundah.
Mr Ryder says the northern suburbs of Brisbane are “leading the revival of markets across the Brisbane metropolitan area’’.
Tipped for good capital growth by Ryder previously, Cairns is still among his favourites for investment. The area has strong population growth, revival of the tourism industry, increase in overseas flights and major infrastructure spending.
Typical house prices range from $260,000 for a house in Bungalow to $455,000 for a house in Whitfield.
“Cairns is making an economic comeback, with spin-offs for the property market,’’ Mr Ryder says.
“In the 1980s Cairns was one of the stars in the Australian property firmament, boosted by surging tourism and investment from Japan.’’
He says while those glory days had long since faded there were plenty of positive signs Cairns is ready to challenge again, boosted by tourism and investment from China.
CITY OF CANTERBURY, NSW
The City of Canterbury has been one of the standout markets in Sydney’s revival. There has been a major upturn in sales volumes leading to strong price growth. The area is popular for its affordable units.
Mr Ryder says recent changes to Canterbury’s local environment plan are bringing new phase of development on apartments in Canterbury.
Typical house prices range from $570,000 in Lakemba to $948,000 in Earlwood.
CASEY CITY, VIC
The city of Casey is already a key population growth area for Melbourne.
Mr Ryder says it also recently emerged as a property growth market with many suburbs attracting rising sales activity from buyers. He says the Victorian Government’s long-term planning documents identify several suburbs in the city which will play a major role in service delivery and creating employment.
Typical house prices range from $355,000 at Hampton Park to $310,000 in Cranbourne.
Again another region Ryder has tipped for future growth previously. The Redcliffe Peninsula is geographically close to
Brisbane but price growth has stagnated for years because there were not adequate transport links.
A long-promised rail connection is closer with the contract awarded in September last year.
Typical house prices range from $351,000 in Margate to in excess of $680,000 at Newport.
ROCKINGHAM CITY, WA
Mr Ryder says the Perth market has moved strongly into a growth phase.
“An area which stands out for its affordability, lifestyle and future prospects is the City of Rockingham,’’ he says. The area, about 50km south of central Perth the area has relatively low prices and small vacancies.
Typical house prices range from $320,000 at Cooloongup to $395,000 at Port Kennedy.
Seaford in the southern seaside suburbs of Adelaide has a good track record of steady price growth.
It is one of South Australia’s strongest population growth areas.
“It’s prospects have grown considerably with the announcement of two pieces of key transport infrastructure, the extension of rail links to the suburb and duplication of the southern expressway which terminates close to Seaford,’’ he said.
Typical house prices start around $336,000 for a house in Seaford, to $380,000 for a house in Seaford Meadows.
SUNSHINE COAST, QLD
The Sunshine Coast market is poised to return to growth for the first time in six years. The market is helped by a number of factors including growth in the tourism industry, balance in supply and demand, price drops have made property more affordable, many fly-in-fly out workers choose to settle on the Sunshine Coast.
House prices typically start at around $320,000 in Nambour to $700,000 in Noosa.
The third largest city in New South Wales has suffered recently from the downturn in the manufacturing industry and job losses at major employer BlueScope Steel.
“But the city has staged a comeback, boosted by a number of major projects.’’
House prices typically start at around $330,000 in Unanderra to $535,000 in Cordeaux Heights.
Original article published at www.news.com.au by Michelle Hele, News Corp Australia, 14/5/2014