There’s nothing to lose if you live in the southern or northern region. You can earn the best return for your investments as long as you take time to study the property market trends in different states and suburbs.
What’s important is to keep yourself abreast of the economic and market growth evident within your state or local area.
Are you going to stay in the comfort zone or venture outside your state to plant and grow your investment?
Whatever your choice, always go for capital cities which acquire a greater chance of financial stability.
We’ve listed a few cities and suburbs to take into account when looking to buy a property or put your investments in.
Recent figures show that almost 7,000 residents from Melbourne have moved to Geelong within a span of one financial year.
This significant number of relocated individuals explains how Geelong is growing in terms of lifestyle and price movements for houses.
That being said, public amenities, facilities, malls and hospitals are expected to rise to accommodate the growing number of population.
Located in the northern part of Australia has government recognised attractions and infrastructures.
As the city constantly develops in health, education and technology, residents can experience growth with major infrastructure development on the rise in the years to come.
Chinese tourism also begins to contribute to its innovative expansion, offering tourists and workers greater opportunities for rental options.
As of 2018, Cairns has 1.81 per cent of vacancy rate – which is around one per cent compared to others.
Liverpool (New South Wales)
With stable returns on rental properties (3.13 per cent) and low unemployment rates, it has become a go-to spot for investment opportunities.
No wonder Liverpool was the best suburb for NSW investors in 2017.
Along with its plans to provide investors with cost-saving benefits, infrastructure development projects are also expected to rise. These include residential buildings, hotels to cater to a constant slew of tourists and transport system upgrades.
With the growing population, transport lines are also laid out for extension work to rectify or soothe out the traffic flow within the suburb.
You might also want to read: 2019 Predictions And Trends For The Home Sector
Although Hobart has records of low vacancy rates along with Canberra and Adelaide, Launceston also thrives in housing affordability and buyer activity. The city has less than 2 per cent rental vacancies and above 5.5 per cent of returns.
Infrastructure development and transport lines are also part of the future plans of Launceston government. The city also features revamped hospital buildings, new industrial estates and residential properties along with educational facilities.
This becomes a reason for some interested buyers to move to Launceston more than the intention to invest in a property.
Sunshine Coast (Queensland)
With a growing population, the Sunshine Coast aims to foster residency lifestyle among homeowners and tenants. Established social infrastructure, affordable property prices and improved tourist attractions are only a few of the perks investors or first-time buyers can expect from this region.
New international airport and tourism centres in the suburb also help in providing a good property market foundation for potential investors.
Sunshine Coast commits to pursuing sustainable growth by proposing future housing projects and new employment opportunities for future residents (and generations).
For over 3 years, Melbourne and Sydney have gained recognition for high demands on property investments. It could be a good reminder for first-time buyers to look into each city or suburb carefully as they finalise their options.
It’s important to study the market trends to determine the value of the property you’re attempting to purchase. Does the ROI outweigh the overall cost or the other way around? Will the economic status of the region be able to thrive in the coming months or years?
Low vacancy rates, increased housing supply and new social hubs or infrastructure are other factors that determine the growth of one’s city or suburb. So be sure to have these aspects carefully considered.
Your investment risk profile and expected time frame should also be clearly determined to be financially ready for future possibilities. This also helps you make the appropriate choice for your investment goal.
What are your thoughts on the potential investment spots mentioned above? Comment down your insights to share with our readers.
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