Sometimes you need to look beyond the bright city lights for opportunity, and this holds true for property investment. This is the reason savvy investors are looking to regional areas in 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.
That is not to imply regional investing arenas are not without risk. You only need to look at a few of WA’s mining towns, where boom was relatively short lived, and also the crash has hurt many people who bought when the market was booming.
So, where to purchase 2018? And where are the best places to shell out and top growth suburbs in regional Australia? Let’s have a look at some to watch in 2018 and beyond.
NSW fastest growing regional property – if you are searching to find the best regional investment areas and opportunities 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 that September 2017 quarter, with houses and apartments up by 13 % and 17 percent respectively.
According to development of the median property price (year on year performance to September 2017), Wollongong experienced a stellar year posting 13.9 % growth, with a median house value of $740,000. The neighborhood economy is self-sufficient, with education and tourism because the primary drivers, along with 1,100 people stepping into the region each 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 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 %); and Denhams Beach ( 48.78 per cent) near Batemans Bay both standout performers.
Investors can also be looking north for the once unfashionable Newcastle, that has been turned into one of fastest growing regional towns in 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 cent each year, while units have outperformed them posting annual returns of 7.7 percent.
The very best suburbs in Newcastle, and those likely to experience growth in the near future include Wickham, Lambton and Lake Macquarie, that is a short 30 minute drive through the CBD.
Investors would like to once unfashionable Newcastle, which was 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 though it may be still more affordable than Sydney, investors are increasingly seeking to regional areas in Victoria for less expensive and much more attractive growth opportunities.
Most of Victoria’s regional hubs and towns are more offered to Melbourne, thanks to better transport links, plus they provide a more relaxed lifestyle. Here the very best investment suburbs for 2018 include Lorne, in which the median house price grew by 35.26 % 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 available to Melbourne, thanks to better transport links and present a far 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 many, including in Townsville. Exactly the same pertains to Cairns where a strengthening tourism sector has been backed up 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 per cent or maybe more in the year to October 2017.
South Australia regional property hotspots – The Domain House Price Report reveals that Adelaide’s current median house prices are $519,517, which can be affordable by capital city standards. But if you are looking for something more affordable, say having a median house price under $300k, then South Australia’s coastal towns are worth investigating. Such as 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 any number of outstanding local wineries. Blanchetown, 109 km from Adelaide, which CoreLogic reports grew 42.6 percent over 2016/2017 is an additional regional location to watch, growth that puts it in the top 10 fastest eawclq suburbs. Should you be looking 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 over the horizon, where dwelling values have fallen faster compared to the state capital. The flipside of the is the fact that WA has become one of the most affordable property markets in the nation – which never lasts lengthy. If you are searching for somewhere near to 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 per cent around to June 2017, where most city suburbs are still negative.
Further afield Fremantle (23 km from Perth) has already established significant spending on its infrastructure, like the train station, Victoria Quay and waterfront. Other regional towns with recent upgrades to local infrastructure include Katanning (300 km from Perth), which is now linked to the NBN, with further funds earmarked for local hospitals and schools.