Affordable, commutable, yet potential to grow.
The following 23 areas have been selected based on affordability, being a commutable distance to a main city or employment hub and still have room for capital growth. Across Australia many housing markets are showing signs of flattening. It is not only prices starting to flatten but also some of the leading indicators that project what the trend is likely to be in the medium term.
These areas are all benefiting from the next significant trend, which is the pursuit of affordability. Those locations that are land-locked, such as a coastal region or even the Blue Mountains, offer the scarcity needed to generate higher growth long term. Some locations in our list that are not as land locked have only had modest growth in the last 24-months, which probably means their long-term growth rates may also be modest.
One key trend in these locations is the attraction for investors, which may continue to drive demand at least for the short term. These markets all offer reasonable yields for a well priced home. And for many investors, the fact that they might offer better than average growth makes them even more appealing.
Kent Lardner, Research Director, Suburbtrends