Sometimes you need to look beyond the bright city lights for opportunity, and this holds true for property investment. For this reason savvy investors are looking to regional areas within australia, where some of the fastest growing areas for property investment are. CoreLogic’s Cameron Kusher observes that all their data points to growth for regional markets, especially those within striking distance of capital cities, with affordability the main driver.
Which is not to say regional financial markets are not without risk. You only need to take a look at some of WA’s mining towns, in which the boom was relatively short lived, and the crash has hurt many people who bought once the market was booming.
So, where to invest in 2018? And where are the most effective places to shell out and top growth suburbs in regional Australia? Let’s have a look at some to watch in 2018 and beyond.
NSW fastest growing regional property – should you be looking for the best regional investment areas and opportunities from Sydney’s crazy market, there are many regional centres which posted excellent growth in 2017. Corelogic reported that the Illawarra region is Australia’s top regional performer for the September 2017 quarter, with houses and apartments up by 13 percent and 17 % respectively.
Based upon expansion of the median property price (year on year performance to September 2017), Wollongong experienced a stellar year posting 13.9 percent growth, with a median house cost of $740,000. The regional economy is self-sufficient, with education and tourism because the primary drivers, with 1,100 people moving into the region every week, the Gong is on the rise. And being just 90 km from Sydney, it really is commutable by car and train.
Other regional property hotspots just south of Wollongong – include Shoalhaven ( 19.5 percent growth/median price: $545,000) and Shellharbour (16.7 per cent growth/median price: $650,000). Parts of the South Coast have likewise performed strongly over 2016/2017, with Falls Creek, near Jervis Bay ( 55.4 per cent); and Denhams Beach ( 48.78 per cent) near Batemans Bay both standout performers.
Investors can also be looking north to the once unfashionable Newcastle, which has been transformed into among fastest growing regional towns in the state. BIS Shrapnel’s Australian Housing Outlook reports that this 7 year price trend for houses here has become a solid 6.9 percent each year, while units have outperformed them posting annual returns of 7.7 %.
The best suburbs in Newcastle, and people prone to experience growth soon include Wickham, Lambton and Lake Macquarie, which is a short half hour drive from the CBD.
Investors would like to once unfashionable Newcastle, that has been turned into certainly one of fastest growing regional towns in NSW
Victoria regional property hotspots – Melbourne is definitely the undoubted centre of best capital growth suburbs to invest in property, and though it may be still less expensive than Sydney, investors are increasingly looking to regional areas in Victoria for better value and a lot more attractive growth opportunities.
Most of Victoria’s regional hubs and towns are now more offered to Melbourne, because of better transport links, plus they give you a more enjoyable lifestyle. Here the most effective investment suburbs for 2018 include Lorne, where the median house price grew by 35.26 per cent over 2017, the Greater Geelong ( 13.1%) area – just 75 km from Melbourne and Wodonga ( 6.7%). A lot of Victoria’s regional hubs and towns are now more accessible to Melbourne, due to better transport links and offer a more relaxed lifestyle
Queensland regional property hotspots – Queensland’s regional markets took a serious battering when the mining boom got to an end, but you can find indications of recovery. Employment is rising and vacancy rates are tightening in many, including in Townsville. The identical relates to Cairns where a strengthening tourism sector has been maintained by local migration. Other growth hotspots are Sunshine Coast suburbs, including Buddina (100 km from Brisbane), Forest Glen, and Noosa Heads – which all grew by 13 per cent or more during to October 2017.
South Australia regional property hotspots – The Domain House Price Report reveals that Adelaide’s current median house cost is $519,517, which can be affordable by capital city standards. But should you be looking for some thing affordable, say using a median house price under $300k, then South Australia’s coastal towns are worth investigating. Such as Tumby Bay ($227,500), 50 km from Port Lincoln, Stansbury ($243,000) and Kingston ($246,000).
Otherwise Mount Barker, 35 km east of Adelaide, currently offers great good value and proximity to the city along with use of a variety of outstanding local wineries. Blanchetown, 109 km from Adelaide, which CoreLogic reports grew 42.6 per cent over 2016/2017 is another regional place to watch, growth that puts it in the top 10 fastest eawclq suburbs. If you are searching for the affordable investment under $300k, then South Australia’s coastal towns are worth investigating
Western Australia regional property hotspots – Like Perth, regional Western Australia has seen hard times since the mining boom disappeared within the horizon, where dwelling values have fallen faster compared to state capital. The flipside of the is the fact WA is currently one of the most affordable property markets in the country – which never lasts very long. If you are looking for somewhere close to Perth then Scarborough – just 14 km from the CBD – offers beachside living minus the price of several other high profile suburbs. Property prices here grew 2.82 per cent during to June 2017, where most city suburbs remain negative.
Further afield Fremantle (23 km from Perth) has had significant spending on its infrastructure, like the train station, Victoria Quay and waterfront. Other regional towns with recent upgrades to local infrastructure include Katanning (300 km from Perth), which is now attached to the NBN, with further funds earmarked for local hospitals and schools.