THESE five suburbs have a few things in common, they are all in suburban heartlands and have affordable buy-in prices, but the one thing that really connects them is they are tipped for strong property price growth.
Terry Ryder of
Hotspotting has crunched the data on the suburbs in Australia where he believes prices may soon take off and these are his top five picks.
and the northern Gold Coast growth corridor – QLD OXENFORD
LALOR in Whittlesea – VIC
BEENLEIGH in Logan City – QLD
FORSTER-TUNCURRY – NSW
POINT COOK in Wyndham City – VIC HOMES FOR WHICH BUYERS WILL PAY MORE
Mr Ryder said all five had strong sales volumes numbers which were rising and were a better indication of future price growth than median price rises.
“Generally I think that sales volumes gives you a better feel for the market and can help you predict prices,’’ he said.
“The median price tends to be six months behind the game in terms of telling you what is happening.
“If there is a pattern of strongly rising sales volumes, history shows that will always lead to price growth. At the moment the area that really stands out in Australia, that has the most suburbs with a very strong pattern of rising sales volumes certainly about to lead the price growth, is the Gold Coast.’’
Mr Ryder said specifically the house market on the north of the Gold Coast, not the high rise market.
The house market he said was very solid and that was where there were rising sales volumes and prices were starting to react to that.
He described the high rise unit market as lurching from one boom, bust scenario to the next.
Other northern Gold Coast suburbs he tipped for price growth were
, Upper Coomera, Pimpama and Coomera Ormeau.
Just a little further north from the Gold Coast,
Beenleigh in Logan City also appeared in Mr Ryder’s top five list.
Mr Ryder said there was a lot of momentum in the
property market there now.
“There are a lot of jobs nodes down that way and of course it is right next door to the Gold Coast northern growth corridor,’’ he said.
Another suburb in the area he tipped for future growth was
Eagleby, where sales in the past four quarters have increased from 59 to 65 to 95 to 102.
Mr Ryder said
in the Whittlesea, area had benefited from the strong demand in the Melbourne market. Lalor
Price rises in Melbourne had pushed buyers further out of the city and one of the areas which appealed was Lalor.
“Melbourne is at that stage of the market where it is
outer suburbs showing the biggest momentum,’’ he said.
Other growth suburbs in this precinct include
Epping, Mill Park, Doreen, Merndaand Thomastown. in Wyndham City which was fifth on his list was a similar situation. Point Cook
“They are both outlying areas, affordable areas, those are the places that have got the momentum now, whereas the top end markets of Melbourne and the kind of middle markets of Melbourne is past its peak I think.’’
Wyndham Vale was another standout market in the precinct, with quarterly sales levels
lifting from 85 to 90 about 18 months ago to around 140 in the September 2015.
Mr Ryder said
Forster-Tuncurry in the Great Lakes local government area in the Mid North Coast region of New South Wales had been a standout performer.
House sales in Forster, about 300km north of Sydney, had increased from 106 to 114 to 139 to 152 to 155 in consecutive quarters, while neighbour Tuncurry had recorded a similar pattern.
This was another example of buyers being pushed outside the Sydney market to more affordable regional centres.
Mr Ryder said all five areas were good for potential
capital growth and rental returns.
Originally Published On: http://www.dailytelegraph.com.au/