With “Buyer’s Market” conditions being experienced right across the country, there are many hotspots with good deals for homebuyers and investors
In conjunction with RPData, St.George Bank has recently published a report identifying 24 suburbs, which they believe represent the best value for homebuyers and investors.
St.George Chief economist Besa Deda said the hotpots have been selected on a range of factors, including proximity to transport and retail amenities and the potential for renovation of properties in a suburb.
She said there were “pockets of opportunity for home buyers and investors seeking capital growth over the medium to long-term”.
Another key factor was finding suburbs with attractive pricing – prices may have risen by less than the average for that area, or may be lower than similar suburbs in other area.
“What you’ve got to remember is that we often view the housing market as one market, but really the housing market is a number of markets,” she said.
“Even in a suburb, houses on one street can differ from houses on another street.”
She said there were a number of suburbs included on the list which may have been overlooked, or undervalued compared to the pricing of neighbouring suburbs.
“It might be surprising that some of these suburbs have been overlooked, particularly when you consider the growth that some of the nearby suburbs have witnessed.”
Like many economists, she says relatively strong population growth and relatively low levels of new home construction should help to put a floor under the market.
However, she warned that home buyers and investors will need to be vigilant with their research in coming years in order to spot value.
The hotspots are:
Sydney
· Arncliffe (houses)
· Eastlakes (units)
· Newtown (units)
· Potts Point (units)
· Sydenham (houses)
Melbourne
· Braybrook (houses)
· Carlton (units)
· Heidelberg West (houses)<.li>
· Kingsville (units)
· Travancore (units)
Brisbane
· Arana Hills (houses)
· Greenslopes (units)
· Holland Park (houses)
· Salisbury (houses)
· Windsor (units)
Adelaide
· Dulwich (units)
· Thebarton (houses)
Hobart
· New Town (units)
Perth
· Mirrabooka (houses)
· West Leederville (units)
Darwin
· Tiwi (houses)
Canberra
· Braddon (units)
Regional Australia
· Newcastle, NSW (houses)
· Gladstone, Qld (houses)
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