Southeast Queensland and the Hobart suburbs offer best prospects for property price growth, new report shows
Investors in search of properties that will deliver high capital growth in the years ahead may find southeast Queensland and certain Hobart suburbs safe bets.
These regions accounted for the bulk of high growth property markets in Hotspotting.com.au’s latest Top 10 Best Buys report, which forecasts the 10 best locations for property investors seeking capital growth.
Queensland locations in the report included the Gold Coast, Ipswich and Logan, while the Melbourne regions included the City of Casey and Epping.
Just one NSW location was nominated: Wagga Wagga.
GOLD COAST, QLD
Billions is being spent on infrastructure across the Gold Coast in the lead up to the Commonwealth Games in April 2018, which is expected to bring around 690,000 visitors to the city.
Ongoing projects include the $150 million development of the light rail network and a $42 million aquatic centre.
These and other developments have helped create 15,000 jobs over the past year, adding to the city’s already strong population growth. The Gold Coast’s population is projected to grow by 133,800 people in the decade — the largest population growth in Queensland.
“There will be (property) price growth, especially in the genuine residential suburbs,” the Hotspotting report said. Much of this growth is expected to occur in suburbs along the northern corridor between Helensvale and Brisbane.
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LOGAN, QLD
Logan City’s combination of affordable property prices, good infrastructure and proximity to job hubs could boost home values.
Many of the region’s older suburbs have been revitalised through urban renewal projects and Logan is already one of the fastest growing municipalities in Australia.
It is being expanded through a $4 billion masterplanned housing community on Waterford Tamborine Road, which will result in 17,000 new dwellings.
There is also a $600 million project to redevelop Jeta Gardens Retirement Village, approved by local council in 2014. The village currently injects $10 million into the local economy annually, but this is set to rise to $100 million.