Sydney hotspots revealed
Marrickville, Abbotsford, Kogarah and Roseville have been identified as the NSW hotspots to watch in 2012 by PRDnationwide.
According to property researcher Oded Reuveni Etzioni, 2012 will be the year where demand will increase for well-located properties in the inner and middle ring of Sydney.
Also identified as hotspots to watch are Naremburn, Ryde, Balgowlah and Redfern.
“Suburbs have been chosen based on population growth, infrastructure and investment, employment opportunities and other factors,” Mr Reuveni Etzioni said.
He said a property’s current pricing level and proximity to amenities is key.
An analysis was conducted to identify suburbs with a strong long term growth, which have met softer conditions in 2011.
“Units rather than houses will again be the dwelling of choice in these locations, as more new developments are completed over the next 12 months,” he said.
“Comparing with Melbourne, the Sydney market does not suffer from oversupply of stock.
“The demand for houses and units remains, with local buyers and foreign investors showing interest in Sydney’s property.”