Best value capital city growth suburbs in Australia 1st Quarter 2017

Australia
Australia

Are you set on investing in Australia real estate this year? If you’ve been holding off your property investment since the past year, then right now is the best time to acquire home mortgages in Australia. Let’s talk about the suburbs within 20km of capital CBD that is currently affordable, and show a good potential for further capital growth, according to a new report released by PRDnationwide research team.

The suburbs were evaluated on short and midterm median house price growth, the volume of sales, online interest, median rental price, rental yield, and vacancy rates. PRDnationwide Chairman and Managing Director, Tony Brasier, stated that the ongoing residential, commercial and industrial projects in the area were also taken into consideration when assessing growth potential.

The sheer amount of development activity currently taking place in these top suburbs and surrounding area is very encouraging. New roadworks and infrastructure, commercial precincts, and shopping centres are great indicators of future price growth.

Many suburbs in all capital cities have been attracting widespread interest from buyers who are looking for good home mortgages in Australia, but these hot spots are gradually showing off amazing data while flying under the radar. There are great opportunities available in these areas for first-time homebuyers and investors looking for growth potential with solid dynamics.

If you’re in the market looking for residential investment, go south. The Melbourne suburb of Fawkner, which is about 12km north of the CBD, recorded annual median price growth of 15 percent last year 2016. With a median price of $577,500, investors can expect a rental yield of about 3.2 per cent. There is also a $20.9 million worth of planned projects, and as of last year, the suburb is expected to boom.

In Hobart, further South, and the inner-city suburb of Moonah has a median house price of $310,125, and that’s after recording a growth of 12 per cent back in 2016.The vacancy rates are tight at 0.4 per cent and rental yields are at 5.7 per cent high.

Sydney fares the best when it comes to the apartment market based on annual growth, with Berala, a western suburb about 20km from the CBD, recording house price growth of a whopping 21.1 per cent. Even more surprising for the harbour city is the median unit price at a low $545,000, a good news for first-time homebuyers, especially with low home mortgages in Australia right now from some providers.

Berala was closely followed by Melbourne’s Tullamarine, which is about 17km northwest of the CBD, and Brisbane’s Rochedale South, about 20km from the city centre. These two suburbs have recorded an annual apartment price growth of 13.7 per cent and 12.7 per cent, respectively.

The Perth suburb of Balga has also recorded more than $30 million of new project developments. It’s located 13km from the city centre and has a median apartment price of $352,000 after recording annual growth of 8.4 per cent in 2016.

And last, but certainly not the least is the apartment market in Hobart, who is doing quite well in the housing market. An investor can acquire a unit in Kingston, nestled just 12km from the city for $310,000.