Whether you have property or not, everyone relishes hearing about the suburbs that are booming and the ones that are softening. These insights give us an all-rounder knowledge of the Australian market, priming us to be able to spot an investment opportunity that is worth jumping on before the rest of the hunters cotton on. Well you asked for it, and here it is. Read on to find our the best places to buy property in 2019.
Victoria – Melbourne West
West Melbourne is turning heads in the property market, with many investors considering the area for their first home or an investment property. West Melbourne presents a good investment because of the strong and consistent population growth and low vacancy rates. The suburbs also have good infrastructure and the property types are substantial for the price, which you don’t always see in the Melbourne market.
Victoria – Geelong
No one needs to be sold on the benefits of Geelong. With easy and direct train access to Melbourne, Geelong residents can just as easily bask in the open spaces of Geelong, or pop into the city for a sporting event. Geelong has been on the rise for a long time, with government chatter regularly discussing the potential for a bullet train to connect the region to Melbourne. The average house price sits comfortably under $525k, with investors treated to a larger space than typical Victorian property.
New South Wales – Western Sydney
Western Sydney houses are at the top of the list for those hoping to walk away with a low price and high quality house. The new Badgerys Creek Airport has had a flow on effect to the surrounding regions, bringing development interest and more visitor and foot traffic to the West. How this addition will continue to expand is not yet known. There is also enviable train access which is appealing for residents who work in Sydney and wish to commute into the city. The average price you can expect to pay is $638k.
Queensland – Brisbane North
Everton Park has been hailed the suburb of the minute, attracting domestic and international interest to the North. Job growth is strengthening in the North, which has increased interstate migration for many Australians deciding to call Brisbane home. First-time buyers and investors can expect to pay an average of $583 for a Brisbane home, a reasonable price given the proximity to the CBD. It is worth noting that on average, a Brisbane home is larger than those in New South Wales and Victoria. This may be attractive to young and growing families looking for a little more room.
Queensland – Buddina
The Sunshine Coast has been a holiday destination for thousands of Australians each year, with many now considering to invest in the picturesque beach region. Strong wages and low employment is one reason to relocate to the coast, and investors will also find that homes in Sunshine Coast are an average $737k. The Sunshine Coast is still only a short distance from the CBD, posing a reasonable commute for workers with offices based in Brisbane.
Being in the driver’s seat and deciding where to invest is incredibly exciting. There is a lot that goes into weighing up an investment; price, suburb and growth patterns are just some of these factors. Familiarise yourself with the property markets in each state, as they may affect the property you choose in your desired city.
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