Australia is thriving, according to new findings from the Urban Taskforce and CBRE.
Property investors in Australia frequently turn to the NSW and Victorian capitals to grow their wealth, and it's clear that opportunities are presenting themselves across the city.
In bustling inner-city areas, offshore retailer activity could improve economic conditions. A thriving CBD could be great news for those with cash-flow positive property investments.
Meanwhile, in Western Sydney, surging housing approvals indicate that demand for property in the city remains strong, which is sure to please real estate investors.
Vibrant inner-city locations
When considering where to buy, investors will consider potential capital growth, rental yields and vacancy rates.
Another factor worth considering is where the economy is headed. In the heart of key capitals, the signs are certainly positive.
It's thought that foreign retailers will continue to "drive the rejuvenation of certain CBD retail precincts around the country", according to CBRE's most recent Retail MarketView.
From a global standpoint, Australia's economy is doing particularly well.
"Australia's retail market continues to fly high on the radar of international retailers, with foreign brands increasingly looking for opportunities to capitalise on the strength of our market," explained CBRE National Director, Retail Services Group, Alistair Palmer.
"Australia's economy is in an enviable position and the big brands are aware of that. Our GDP per capita is the third highest globally and Australia is outpacing the rest of the world in terms of economic growth at more than 10 per cent."
In Melbourne, the Emporium Melbourne project is evidence of sustained interest in a burgeoning city.
Should Melbourne and Sydney's CBDs remain attractive locations for doing business, property values could continue to rise over the coming months - great news for those with a capital growth strategy for their investment portfolios.
Wonderful Western Sydney
Turning to Sydney alone, it's clear that investment opportunities remain on offer - particularly out west.
Western Sydney is proving itself as a development hotspot - seven of the key 10 councils for housing approvals over the most recent financial year were located in Western Sydney, according to the Urban Taskforce.
Areas such as Bankstown, Blacktown, Camden, the Hills, Liverpool, Parramatta and Penrith placed in the top 10 areas for housing approvals. In Blacktown alone there were 2,822 approvals over the 2013/14 financial year.
For investors looking towards high-growth locations, investigating investment opportunities in Sydney's west could be a wise move. Better yet, a growing focus on on boosting the area's transport links makes Western Sydney properties popular with renters.
