From a report dated 18 September 2009 by Matthew Liddy from Australian Property Investor Magazine, property hotspots across Australia are those where there is new transport, new infrastructure and high migration rates among other things. He has also advised that once a suburb is identified as a hotspot, it makes sense for investors to get in before the experts label it a hotspot.
Among the hotspots in Sydney, Bronte is the eastern suburbs is one of Australia’s most exclusive beach suburbs which have seen a significant drop in prices over the last year. Other hotspots include Haberfield in the inner west and Oatlands in the west of Sydney CBD.
Hotspots in Mebourne include Carlton due to its close proximity to the CBD and being close to Melbourne university, cafes and restaurants precinct. Kew in the east of Melbourne is the equivalent of Bronte in Sydney which has seen a significant drop in property prices.
John Edwards from Residex advise investors to cast the investment net wider in order to search for hotspots around the country. According to Edwards, Melbourne is set to perform better than all other areas in the east coast of Australia.
He singled out suburbs with a median price of around $350,000 to $500,000 will perform the best over the next 5 years based on existing economic scenario and forecasts.
Queensland has rode the property wave in Australia over the last few years and recovery from recent falls has been slower than the rest of the country. Manly in Brisbane’s east, located by the water is making up ground while prices in Newstead in the inner city is on the rise. Edwards has identified Carina, which is 7km from the CBD, as Brisbane’s top investment suburb.
In Adelaide, Peter Koulizos, known as the Property Professor predicts Torrensville as the suburb to watch. It is 3km from the CBD and is located between the city and the sea. Littlehampton in the Adelaide Hills has been identified as the best investment suburb.