A number of suburbs within the City of Onkaparinga, south of Adelaide, are geared for capital growth in 2012, according to leading hotspotting experts.
Hackham, and Aldinga Beach have been listed in Smart Property InvA number of suburbs within the City of Onkaparinga are geared for capital growthestment’s Fast 50 report, with at least two leading property experts identifying these areas has ripe for investment in 2012.
Speaking to Smart Property Investment, wHeregroup director Todd Hunter said many property companies are recommending Seaford and Port Noarlunga as their suburbs of choice.
“We were buying here in 2007 as Adelaide was, and still is, experiencing a population shift south to these beachside suburbs,” Mr Hunter said.
“Since this shift, the councils and government have announced a new highway and rail line,” he said.
“The better achieving suburbs will be those on the outer ring of this new infrastructure.”
Destiny Financial Solutions founder Margaret Lomas has also flagged suburbs within the City of Onkaparinga for growth, in particular the affordable suburb of Hackham.
“I like [Hackham] as it is in the lower price ranges and often below $250, 000,” Ms Lomas said.
“Adelaide as a whole is going to experience some great movement in the next two to four years and Hackham is an affordable buy, with 6.5 per cent yields and great proximity to everything,” she said.
“Everyone is buying in Seaford and Christies Beach but missing this little gem.”
Infrastructure projects are already under way in the area, including a $291.2 million Seaford rail extension, which began construction in January 2011, to be completed in 2013 and a 1.2 km bridge across Onkaparinga Valley, which will be the longest bridge in the state.
“There is no doubt that all of the new infrastructure will be of benefit in time. It’s very much a growing area, there’s a lot of development around the Seaford area and also Aldinga is hugely developing,” Raine & Horne Morphett Vale principal and property consultant Jennifer Drabic told Smart Property Investment.