There are many factors to consider when you invest, such as the location of the property and its cost. However, choosing the right investment or family home can be a hard choice when choosing a suburb over another, working out which ones are the perfect growth location can be impossible without a little background.
In this article, we’ll show you the 10 up and coming suburbs that you need to consider investing in this year (2019), some of them may already be developed while others are nearing completion, so be sure to research them individually.
- Cottesloe, Perth: The report from Hotspotting indicated that as the WA economy continues to improve, Perth’s recovery will be led incessantly by the top-end suburbs, which are led by the beachside Cottesloe. The median house price of which is just over $2 million.
- Golden Square, Bendigo: Regional Victoria has historically been one of the nation’s top real estate markets for growth in the last year, to which Bendigo is the leader for rising strongly. The median house price is currently $325,000.
- Kippa-Ring, Brisbane: Current report agrees that Brisbane’s market can still better this year, thankfully headed by affordable suburbs on the north side like the ones offered in the Redcliffe Peninsula, which is augmented by the new railway. Kippa-Ring currently has a median house price of $430,000.
- Lenah Valley, Hobart: Reports show that Hobart has the strongest market for growth in the capital city of Australia and while the market may have passed its peak, it continues to attract buyers thanks to its affordability and strong yields – with vacancies near zero! Lenah Valley has a current median house price of $550,000.
- Lightsview, Adelaide: This suburb forms part of the Port Adelaide area in the SA capital, which the report recognizes as a national leader in growing demand. Demand is anticipated to be improved by a massive Navy vessel building project. Current median house price for Lightsview is $480,000.
- Minyama, Sunshine Coast: The Sunshine Coast is Queensland’s leading market for growth, boosted by a strongly rising local economy. Minyama currently has a median house price of $1.3 million.
- Mitchell Park, Adelaide: The City of Marion precinct in Adelaide boasts well-developed infrastructure as well as house prices in Mitchell Park, comparative to most surrounding suburbs. Median house price here is $455,000.
- Queanbeyan, just outside Canberra: The advantage of being in NSW but also being part of the Canberra metropolitan area are many, adding that to a solid rising market. The median house price here is currently $530,000.
- Rutherford, Hunter Valley: It’s nothing new that Newcastle is one of Australia’s strongest markets in recent years and because of that, growth has rippled out in the Hunter region, where demand is steadily rising. Rutherford has a steady median house price of $400,000.
- Sebastopol, Ballarat: A current report revealed that Melbourne-based investors and home-buyers are among those targeting Ballarat due to affordable prices offered, higher rental yields and a more relaxed lifestyle is a plus, while strong links to the state capital also add to the benefits. It has a median house price of $275,000.
Regardless of your decision on where to purchase in Australia, it will do you good to remember these top suburbs. This will be especially helpful if you’re buying for investment since these locations are expected to grow. For families and first-time homeowners, the appropriate option would be to select a fixed rate, owner-occupied loans with principal and interest repayments offered by Newcastle Permanent Building Society home loans. Fixed rate home loans let you lock in your interest rate for up to 10 years, providing you with the certainty of knowing what your repayments will be. Check it out.