Sometimes you have 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, particularly those within striking distance of capital cities, with affordability the key driver.
That is not to say regional investing arenas are not without risk. You only have to take a look at a few of WA’s mining towns, where the boom was relatively short lived, and the crash has hurt many who bought if the market was booming.
So, where to buy 2018? And where are the most useful places to invest and top growth suburbs in regional Australia? Let’s take a look at some to watch in 2018 and beyond.
NSW fastest growing regional property – should you be looking to get 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 that September 2017 quarter, with houses and apartments up by 13 % and 17 per cent 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 price of $740,000. The local economy is self-sufficient, with education and tourism as the primary drivers, along with 1,100 people stepping into the location weekly, the Gong is on the rise. And being just 90 km from Sydney, it is commutable by car and train.
Other regional property hotspots just south of Wollongong – include Shoalhaven ( 19.5 % growth/median price: $545,000) and Shellharbour (16.7 % growth/median price: $650,000). Areas of the South Coast also have performed strongly over 2016/2017, with Falls Creek, near Jervis Bay ( 55.4 percent); and Denhams Beach ( 48.78 %) near Batemans Bay both standout performers.
Investors will also be looking north for the once unfashionable Newcastle, which has been transformed into certainly one of fastest growing regional towns in the state. BIS Shrapnel’s Australian Housing Outlook reports that the 7 year price trend for houses here has been a solid 6.9 per cent per annum, while units have outperformed them posting annual returns of 7.7 %.
The very best suburbs in Newcastle, and people prone to experience growth in the near future include Wickham, Lambton and Lake Macquarie, which is actually a short half hour drive from the CBD.
Investors would like to once unfashionable Newcastle, which has been transformed into among fastest growing regional towns in NSW
Victoria regional property hotspots – Melbourne will be the undoubted centre of best capital growth suburbs to invest in property, and even though it is still more cost-effective than Sydney, investors are increasingly trying to regional areas in Victoria for better value and more attractive growth opportunities.
Many of Victoria’s regional hubs and towns are more accessible to Melbourne, due to better transport links, and they also provide a more relaxed lifestyle. Here the most effective investment suburbs for 2018 include Lorne, in which the median house price grew by 35.26 per cent over 2017, the more Geelong ( 13.1%) area – just 75 km from Melbourne and Wodonga ( 6.7%). Most of Victoria’s regional hubs and towns are now more available to Melbourne, because of better transport links and offer a more relaxed lifestyle
Queensland regional property hotspots – Queensland’s regional markets took a significant battering if the mining boom came to a stop, but you will find signs of recovery. Employment is rising and vacancy rates are tightening in many, including in Townsville. The identical relates to Cairns in which a strengthening tourism sector will be supported 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 % or more around 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 is affordable by capital city standards. But if you are searching for some thing affordable, say with a median house price under $300k, then South Australia’s coastal towns are worth investigating. These include 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 value for money and proximity towards the city along with access to numerous outstanding local wineries. Blanchetown, 109 km from Adelaide, which CoreLogic reports grew 42.6 percent over 2016/2017 is yet another regional spot to watch, growth that puts it inside the top 10 fastest eawclq suburbs. Should you be looking to have an 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 considering that the mining boom disappeared on the horizon, where dwelling values have fallen faster than the state capital. The flipside of this is the fact that WA is now one of the most affordable property markets in the united states – which never lasts long. If you are searching for somewhere near to Perth then Scarborough – just 14 km through the CBD – offers beachside living minus the price tag of many other high profile suburbs. Property prices here grew 2.82 % during to June 2017, where most city suburbs remain negative.
Further afield Fremantle (23 km from Perth) has had significant shelling out for its infrastructure, including the train station, Victoria Quay and waterfront. Other regional towns with recent upgrades to local infrastructure include Katanning (300 km from Perth), which can be now linked to the NBN, with further funds earmarked for local hospitals and schools.