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Property investors looking for the next hotspot should look at Australia’s premier holiday destinations, according to new research.
Analysis by Select Residential Property Research Group (SRP) revealed the 20 holiday locations with forecast median house prices up to 28 per cent over the next three years.
SRP director of research Jeremy Sheppard said the research focused on suburbs with solid fundamentals outside the tourism sector.
“While some of these locations might be better known as holiday destinations, they also have significant local populations – in some cases, hundreds of thousands of people who live there all-year round,” Mr Sheppard said.
Mr Sheppard believes that about one in three people has benefited from working from home, meaning desirable locations near a beach or bushland are becoming permanent bases for consumers.
“These areas are much more than just holiday locations,” he said.
Investors can make purchases into these areas for the fraction of the cost in comparison to buying in the big cities, the research showed.
“They are also thriving communities in their own right, with sound local economies and property markets with buy-in prices as low as $297,000 in one location,” Mr Sheppard explained.
Holiday destinations tipped to boom
Holiday hotspots such as East Ballina in Northern NSW are primed to take advantage of these workers looking for a sea change.
“Not only is East Ballina a coastal suburb, but the region is located just south of Byron Bay, as well as being within commuting distance of the Gold Coast,” Mr Sheppard said.
The analysis found that Bilambil Heights in the Gold Coast-Tweed region may experience a median house price increase of nearly 27 per cent over the next three years.
“The region is well-known for its abundance of natural beauty, which draws millions of tourists each year,” Mr Sheppard said.
“It has direct access to the River Derwent; Rosetta was also only 15 minutes’ drive from Hobart,” Mr Sheppard said.
The Kuluin came in at number four on the list, with its median house predicted to grow by nearly 25 per cent. Coast suburb of
“The Sunshine Coast is in the midst of a major infrastructure boom, including the creation of the cutting-edge new Maroochydore City Centre,” Mr Sheppard stated.
“The allure of Kiama as a holiday destination was already well established; however, its location within a thriving regional centre was also a feather in its property cap,” Mr Sheppard concluded.
Property refers to either a tangible or intangible item that an individual or business has legal rights or ownership of, such as houses, cars, stocks or bond certificates.