Sometimes you need to look beyond the bright city lights for opportunity, and this holds true for property investment. This is why 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, in particular those within striking distance of capital cities, with affordability the key driver.
Which is not to say regional investing arenas are not without risk. You only need to examine some 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 invest in 2018? And where are the most useful places to spend 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 to get the best regional investment areas and opportunities far from Sydney’s crazy market, there are plenty of regional centres which posted excellent development in 2017. Corelogic reported that the 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.
According to expansion of the median property price (year on year performance to September 2017), Wollongong experienced a stellar year posting 13.9 per cent growth, having a median house price of $740,000. The regional economy is self-sufficient, with education and tourism as the primary drivers, along with 1,100 people getting into the location 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 % growth/median price: $545,000) and Shellharbour (16.7 percent growth/median price: $650,000). Elements 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 percent) near Batemans Bay both standout performers.
Investors are also looking north for the once unfashionable Newcastle, which was turned into certainly one of fastest growing regional towns within the state. BIS Shrapnel’s Australian Housing Outlook reports that this 7 year price trend for houses here has become a solid 6.9 % per year, while units have outperformed them posting annual returns of 7.7 %.
The most effective suburbs in Newcastle, and people prone to experience growth soon include Wickham, Lambton and Lake Macquarie, that is a short 30 minute drive through the CBD.
Investors want to once unfashionable Newcastle, which has been transformed into certainly one of 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 less expensive 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 actually more available to Melbourne, because of better transport links, plus they provide a more relaxed lifestyle. Here the very best investment suburbs for 2018 include Lorne, where the 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%). Most of Victoria’s regional hubs and towns are more accessible to Melbourne, due to better transport links and provide a much more relaxed lifestyle
Queensland regional property hotspots – Queensland’s regional markets took a serious battering once the mining boom came to a conclusion, but you can find indications of recovery. Employment is rising and vacancy rates are tightening in many, including in Townsville. The identical applies to Cairns when a strengthening tourism sector is being 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 % or more in the year 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 standards. But if you are looking for some thing affordable, say with a median house price under $300k, then South Australia’s coastal towns are worth investigating. Included in this are 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 towards the city along with use of a variety of outstanding local wineries. Blanchetown, 109 km from Adelaide, which CoreLogic reports grew 42.6 % over 2016/2017 is another regional location to watch, growth that puts it inside the top 10 fastest eawclq suburbs. If you are searching 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 over the horizon, where dwelling values have fallen faster compared to the state capital. The flipside of this is the fact that WA is now probably the most affordable property markets in the country – which never lasts very long. If you are searching for somewhere near Perth then Scarborough – just 14 km from your CBD – offers beachside living minus the cost of many other high profile suburbs. Property prices here grew 2.82 percent around to June 2017, where most city suburbs remain negative.
Further afield Fremantle (23 km from Perth) has already established significant spending on 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), that is now linked to the NBN, with further funds earmarked for local hospitals and schools.