Property Watch



I believe the following suburbs have good prospects for strong capital growth in the long term.

No.

Suburb

Price range $

*Average suburb price $ & 5-year growth

Type of property

Reason

1. West Pymble, Sydney $600k – $800k $816k, 15% Vacant land or house due for renovation Relatively inexpensive compared to the east side of Pymble. Areas to consider would be on the east side of Ryde road in Minnamura Avenue and Kiparra street. This area is leafy and secluded but yet have easy access to Ryde road and Pacific Highway.
2. North Ryde, Sydney $650k – $800k $675k, 7% House New train station and commercial development and new offices on Delhi street. Areas to consider would be houses on the west side of Pittwater and Epping roads close to this new train station.
3. Melton South, Melbourne $180k – $220k $200k, 29% House Strong net migration to Melbourne and low base for good capital growth. outer west Melbourne is still relatively undeveloped but is experiencing strong annual migration growth. Properties to consider would be houses with approximately 500sqm  -  800sqm on streets which are close and to the north of Melton South train station.
4. Macleod,
Melbourne

Watsonia, Melbourne

$390k – $480k

$330k – $390k

$442k, 51%

$384k, 38%

House

House

Strong net migration to Melbourne and these two are suburbs which are just within the 20km radius to the CBD but are still relatively inexpensive compared to those closer to the city. Good residential suburbs with easy access to the CBD, close to La Trobe and RMIT Universities. Properties to consider would be houses with approximately 500sqm  -  800sqm on streets which are close to the Macleod and Watsonia trains and trams.

*Source: Your Investment Property, July 2009

Kiparra street, Pymble
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