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Australia's 24 property hot spots

Reported by Stuart Fagg and Megan Tidd
Thursday, January 7, 2010
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Tasman Resources Ltd
Australia's 24 property hot spots

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By Stuart Fagg, ninemsn Money

The suburbs set to become Australia's next property goldmines for buyers and investors have been revealed by research.

There are 24 suburbs across the country that represent the best value for property purchases and the most potential for price gains, according to research commissioned by St George Bank in September 2009.

"Savvy home buyers and investors should look outside the square and consider the areas which have not attracted the same level of attention as traditional blue-ribbon locations," said Besa Deda, chief economist at St George Bank.

"For example, some of the suburbs identified in the National Hotspot research include light industrial areas which are expected to eventually transform into residential areas with amenities."

Property prices are on the rise again after a small decline between February and December last year and the median dwelling value now sits at a record $471,818.

While many property rating reports look solely at price factors, St George Bank commissioned RP Data to analyse a number factors, such as proximity to employment centres and public transport/roads, renovation potential and housing stocks.

The result is a group of 22 metropolitan suburbs and 2 rural locations that represent the nation's best-value suburbs for buying a house.

Have your say:  although the numbers are in, we know prices don’t always add up.  Are these suburbs really a good investment, in terms of lifestyle and amenities?  Or are they cheap for a reason?  Visit Rate Your Place now and tell us what you think.

Property Hot Spots

SYDNEY: The 5 property hotspots in Sydney are located largely in the west and southwest of the city, although there is one within 10km of the CBD. The biggest discounts are available in Rockdale where vendors have dropped prices by 11 percent.

Granville, NSW:   With a population of around ten thousand, a median house price of $347k, and a high rental occupation, the numbers make Granville seem like a great opportunity for investment.  But is it really worth the money?  What do you think?  Click here to rate and review Granville.

Rockdale, NSW: “Distance to city and beach and airport is ideal. It has supermarkets, a shopping centre, places to eat and good public transport. I can not understand how it could be so cheap,” said resident Charlie, even though Rockdale ranks only 6.3/10 on our suburb review tool.  Higher median house prices and negative growth could be bringing down Rockdale’s reputation. Do you agree?  Click here and rate Rockdale now.

Lidcombe, NSW: Although Lidcombe hasn’t been rated, it’s logical to assume that with a median house price of $450k for houses and it’s proximity to major roads, it’s a bargain.  But how does the community hold up?  Rate and review Lidcombe, now.

Riverwood, NSW: Though one of the most remote suburbs listed in the Sydney area, Riverwood boasts a median house price of $455K and a busy rental market.  The older population – with a median age of 40 – might be a factor for many young families looking to buy.  Is Riverwood really a bargain?  Rate and review it now. 

Waterloo, NSW: Waterloo resident “Trosa” is very enthusiastic: “Inner city suburban living - love it. Best value for money in Sydney!”  Another Waterloo regular visitor has different views: “I work here and hate the noise this suburb has. Its concrete roads and high units being built is just too crowded and claustrophobic. You cannot breath. Just sit on O'dea Avenue for 10mins...you get run over by a truck and you have a headache. YUK.”  Rental rates are  massive – 77% – which means it might be a great place for investors.   What do you think?  Rate and review Waterloo, now.

MELBOURNE: Three of Melbourne's five hotspots are within 10kms of the CBD while the leafy suburb of Ashburton has seen a 17 percent fall in property prices in the past 12 months.

Brunswick, VIC: According to many residents, on top of reasonable median house prices, Brunswick retains a great community feel.  “I have seen so many marvellous changes over 25 years in Brunswick,” says lifelong resident Diava Dawson, “I love the sense of community, my neighbours, my friendly local tradespeople & shopkeepers, all the new vibrant young artists & students who have really injected our suburb with new blood.”  Do you agree?  Rate and review Brunswick, now.

Ashburton, VIC: Further outside the Melbourne CBD than Brunswick, Ashburton seems much more upscale according to the numbers: median house prices are at a rather shocking $705k, with units coming in at $473k.  Is it because of it’s great local amenities, or fabulous community feel?  Tell us more:  rate and review Ashburton now.

Chadstone, VIC: Despite loving the local shopping, one Chadstone visitor rates the suburb low due to both high rental prices and bad local drivers.  With 34% of residents renting, it obviously has a high impact.  Do you think rental prices are too high?  Rate and review Chadstone, now.

Flemington, VIC: Flemington gets a stellar rating of 9.2 according to our suburb review tool, where residents boasted about the famous Flemington Racecourse and river.  On the numbers side, although a whopping 54% of residents rent, median unit prices are at a very reasonable $275k – great for first home buyers.  But is Flemington really a good buy?  Rate and review it, now.

Fawkner, VIC: Two word sum up one reviewers experience of Fawkner:  “Older community.”  With a median age of 40, although the population tips middle age, no one is quite ready to bring out the walking frames just yet.  After all, with a median house price of $335k, Fawkner might have some bargain left in it, yet.  Tell us what you think:  rate and review Fawkner, now.

BRISBANE: Brisbane boasts four suburbs within 10kms of the CBD including Keperra, which "enjoys an abundance of greenery due to it being surrounded by hills and mountains".

Margate, QLD: Nestled by the sea, one lifelong resident wants to keep Margate a secret: “Margate…is the place to be, by the sea.  Great life style, beats the big cities. By the way, don't tell anyone, they’re not welcome. Just stay were you are!”  With a median house price of $344k, it seems like quite the bargain, but is it really worth keeping under wraps?  Rate and review Margate, now.

Keperra, QLD: Surrounded by hills and parks, Keperra rates a sturdy 8.3 on our suburb review tool.  Resident Rayray says it’s the proximity that matters, as it’s “close enough to the city to be convenient but far enough away to be peaceful and serene.”  While median house prices sit at $400k, it could be a good buy, too.  Tell us what you think:  rate and review Keperra, now.

Cannon Hill, QLD:  Although no one has yet reviewed Cannon Hill on our suburb review tool, the numbers tell us that more residents own than rent, although property prices are on the steeper end, at $481k.  How do local amenities and community compare? Be the first to rate and review Cannon Hill.

Fairfield, QLD: Median house prices are higher, too, in Fairfield.  With a population of around 15,000, the suburb’s median house prices tip the hotspot scales at $525k.  Is it worth the money?  Be the first to rate and review Fairfield.

Kedron, QLD: Arguably the closest suburb to the Brisbane CBD in terms of main roads, the numbers don’t give away much about Kedron’s community or amenities:  with median house price of $462k and an above average rental rate, it could be a good buy.  But what makes it special? Be the first to rate and review Kedron, now.

ADELAIDE: There are two suburbs that qualify as property hotspots in Adelaide; inner city Thebarton and Glanville in Port Adelaide.

Thebarton, SA: Inner-city Thebarton is potentially a great area for investors, with its high rental percentage and reasonable median house price of $380k.  Be the first to rate and review Thebarton.

Glanville, SA: Local resident Damien has this to say about Glanville, “Glanville is a very affordable suburb that is close to all amenities one could desire! It has location and character!”  With a friendly median house price of $300k, and a great proximity to the coast, it rates at 9.3 on our suburb review tool.  Do you agree?  Rate and review Glanville, now.

PERTH: The riverside suburbs of Bassendean and Thornlie, which lie 15km west of the CBD are both more affordable than surrounding areas and offer great potential for price growth.

Bassendean, WA:  Scoring it a rousing 9.2, residents boast of the Bassendean’s small country charm and close proximity to the Perth CBD.  And with a median house price of $445k, it seems like a worthy investment.  Do you agree?  Rate and review Bassendean, now.

Thornlie, WA: Thornlie median house prices run almost $100k cheaper than Bassendean, at $360k, which makes it a bit more suitable for first home buyers.  How do Thornlie’s amenities and community stack up?  Find out more, and rate it, now. 

HOBART: Tasmania's only property hotspot is North Hobart, which represents strong affordability for a suburb located in the middle of the city.

North Hobart, TAS: Having the closest proximity to the capital CBD than any of the other property hotspots, North Hobart seems well suited for investors.  With 47% of residents renting, and the median house price at $360k, the numbers stack up, but is North Hobart really worth buying in?  Tell us what you think:  rate and review it, now.

DARWIN: The suburb of Rapid Creek, located near the airport and north of the CBD is Darwin's only entry on the property hotspots list.

Rapid Creek, NT: Darwin’s sole property hot spot has a median house price of $550k, and a median unit price of $337k.  And, as 57% of residents rent, it could be a good opportunity for investors.  How are Rapid Creek amenities and community?  Rate and review it, now.

CANBERRA: The suburb of Dickson, which is located around 4km north of the CBD is Canberra's only entry on the hotspots list, but represents strong price growth prospects.

Dickson, ACT: Strong growth and close proximity to the Canberra CBD makes Dickson one of Australia’s upcoming property hotspots. Median house prices are around $502k, but how are the local amenities and community?  Have your say: rate and review Dickson, now.

COUNTRY LOCATIONS:  Gulliver in North Queensland and Redan in Victoria are the country's top rural property hotspots and both offer attractive median prices.

Gulliver, QLD:  There is much to be said for country living, and with Gulliver’s median house price a very friendly $297k, it seems a great investment for first home buyers who want a bit more space.  But how do Gulliver’s local amenities and community compare?  Find out more, and rate and review Gulliver, now.

Redan, VIC: Prices in Redan are practically shocking:  around $186k can get you a house, and around $170k can get you a flat.  But are prices cheap for a reason?  Is Redan really a good place to buy?  Rate and review it, now.

Have your say:  although the numbers are in, we know prices don’t always add up.  Are these suburbs really a good investment, in terms of lifestyle and amenities?  Or are they cheap for a reason?  Visit Rate Your Place now and tell us what you think.







21/12/2014 07:49Sydney, Australia. 21 December,2014
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