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 a number 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 main driver.
Which is not to imply regional markets are not without risk. You simply have to examine a number of WA’s mining towns, in which the boom was relatively short lived, and also the crash has hurt many who bought if the market was booming.
So, where to invest in 2018? And where are the most effective places to invest and top growth suburbs in regional Australia? Let’s check out some to view in 2018 and beyond.
NSW fastest growing regional property – if you are searching for the best regional investment areas and opportunities away from Sydney’s crazy market, there are numerous regional centres which posted excellent development in 2017. Corelogic reported that this Illawarra region is Australia’s top regional performer for your September 2017 quarter, with houses and apartments up by 13 percent and 17 per cent respectively.
Based on growth of the median property price (year on year performance to September 2017), Wollongong experienced a stellar year posting 13.9 per cent growth, with a median house value of $740,000. The regional economy is self-sufficient, with education and tourism because the primary drivers, along with 1,100 people stepping into the location every week, the Gong is on the rise. And being just 90 km from Sydney, it is actually 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 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 percent); and Denhams Beach ( 48.78 %) near Batemans Bay both standout performers.
Investors will also be looking north to the once unfashionable Newcastle, that has been transformed into one of fastest growing regional towns inside the state. BIS Shrapnel’s Australian Housing Outlook reports the 7 year price trend for houses here is a solid 6.9 percent each year, while units have outperformed them posting annual returns of 7.7 per cent.
The very best suburbs in Newcastle, and those very likely to experience growth in the near future include Wickham, Lambton and Lake Macquarie, which is a short thirty minute drive through the CBD.
Investors would like to once unfashionable Newcastle, which has been transformed 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 even though it is still less expensive than Sydney, investors are increasingly looking to regional areas in Victoria for less expensive and a lot more attractive growth opportunities.
Most of Victoria’s regional hubs and towns are now more offered to Melbourne, due to better transport links, plus they offer a more relaxed lifestyle. Here the very best investment suburbs for 2018 include Lorne, where median house price grew by 35.26 percent 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 actually more available to Melbourne, thanks to better transport links and provide a more relaxed lifestyle
Queensland regional property hotspots – Queensland’s regional markets took a serious battering if the mining boom got to an end, but you will find warning signs of recovery. Employment is rising and vacancy rates are tightening in lots of, including in Townsville. Exactly the same applies to Cairns where 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 maybe more during to October 2017.
South Australia regional property hotspots – The Domain House Price Report reveals that Adelaide’s current median house price is $519,517, that is affordable by capital standards. But if you are searching for some thing affordable, say using 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 affordability and proximity towards the city in addition to access to numerous outstanding local wineries. Blanchetown, 109 km from Adelaide, which CoreLogic reports grew 42.6 per cent over 2016/2017 is another regional location 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 considering that the mining boom disappeared on the horizon, where dwelling values have fallen faster compared to the state capital. The flipside with this is the fact WA has become just about the most affordable property markets in the country – which never lasts long. Should you be looking for somewhere near Perth then Scarborough – just 14 km from your CBD – offers beachside living minus the price tag of many other high profile suburbs. Property prices here grew 2.82 percent during to June 2017, where most city suburbs remain negative.
Further afield Fremantle (23 km from Perth) has experienced significant shelling out for its infrastructure, such as 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 attached to the NBN, with further funds earmarked for local hospitals and schools.