If you’re looking to break into the property investment market, check out these hot suburbs around Australia. All are very affordable areas, with growing populations and likely to become powerhouses in the next few years. After all, it’s always better to go for the ones about to take off rather than buy into suburbs that have already peaked.
Discover 5 little-known property investment hot spots
Defence Housing development on 58-hectare Thornton site
1. Thornton, Maitland, New South Wales
Newcastle has been a property juggernaut in the last few years. The flow on from this has been very clear in outlying suburbs and Thornton is a prime target. The local population has been predicted to increase by 50% by 2036. Meanwhile Defence Housing Australia is about to build 500 new homes in the area. This will instantly boost economic activity. The area is close to beaches and both Sydney and Newcastle are very commutable, making it a highly desirable location.
North Harbour is a suburb that’s on the cusp of taking off like a rocket. It has a master planned community in Burpengary East, which could well end up rivaling Greater Springfield’s award winning community. A $600 million marina is awaiting council and state government approval and this will increase jobs and grow the community. Meanwhile the Burpengary Plaza has had a $38 million upgrade. This is an area that’s being earmarked for high growth. And it’s already well on its way. Reports show that it’s jumped up to over 20% in the last 12 months and is already above the median Brisbane average. This is a suburb on a very high trajectory.
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3. Ripley Valley, Brisbane, Queensland
Another solid Queensland location, Ripley Valley is 45 minutes south west of Brisbane. A $1.5 billon upgrade of Ripley Town Centre has cemented the area as a thriving, boutique community. Ripley Valley has been riding off the back of the massive investment boom in Ipswich. That the State Government has poured so much money into the infrastructure and development shows its faith in where Ripley Valley is going.
4. Armstrong Creek and Mt Duneed, Geelong, Victoria
Geelong has long been earmarked as a regional city likely to have a property boom. It shares many of the features of Newcastle in NSW. It’s close to the capital city and has a strong local economy, infrastructure and is attracting scores of families who can’t afford Melbourne. It’s now in the middle of a huge boom where parts of Geelong are outperforming areas of Melbourne. This is partly due to some new projects being established. One of these is Armstrong Creek, a newly created suburb that’s already experiencing dizzying annual growth rate of around 22%. Mt Duneed has a strong rental yield and has had less publicity than Armstrong Creek but will also perform very well.
One of the most affordable areas in Melbourne
5. Werribee, Victoria
Werribee is an outlying Melbourne suburb, about 30kms south west of the city centre. Once it was a forgotten, sleepy outpost of the city, now it’s experiencing high growth and development. Accordingly the property growth has been very positive. It has a compound annual growth rate of 8%. While Werribee has been singled out as one of the suburbs to watch, the fact is that it still remains one of the most affordable suburbs in Melbourne. As the city’s properties continue to rise, this is a last chance to get in at the ground level.