Is Queensland’s property market finally outpacing New South Wales
Queensland has become the state to watch when it comes to property, following its strong response to the COVID crisis an...
A new report has unveiled the 21 suburbs across New South Wales primed to deliver investors the best returns in 2015.
Six property experts and commentators have selected the 50 suburbs across the country which are tipped to take off in 2015 for Smart Property Investment's annual Fast 50 report – with 21 hailing from New South Wales.
Despite ongoing chatter that the best of Sydney’s growth may well have passed, the city remained the dominant capital.
Five of the six experts on the panel – Doctor Andrew Wilson (Domain Group), Louis Christopher (SQM Research), Margaret Lomas (Destiny Financial), Michael Fuller (Hotspotcentral) and Sam Saggers (Positive Real Estate) – selected suburbs from New South Wales as presenting good investment opportunities in the year ahead. Only wHeregroup’s Todd Hunter steered clear of suburbs in Australia’s most populous state.
In compiling the list, Hotspotcentral’s Michael Fuller said despite speculation about unsustainable price growth and property bubbles, there are still Sydney suburbs that have significant room to move.
He pointed to the south western Sydney suburb of Ambarvale, which he said was set to benefit from the ripple effect of Sydney’s strong growth.
Mr Fuller said properties in the area are already being snapped up very quickly, and there has been low vendor discounting and strong rental growth over the past 12 months.
In addition, he said there was limited chance of a downturn or “bubble burst” because historically, prices haven’t climbed significantly.
Sam Saggers also selected various suburbs across New South Wales, and highlighted the Liverpool Local Government Area (LGA) as one which has not yet finished its climb.
Mr Saggers did warn that the LGA is nearing the peak of its property cycle, but said there are still opportunities for investors to profit from all dwelling types.
He pointed to limited supply and the area’s affordability relative to other LGAs in Sydney – factors which he said would continue to push up prices.
Mr Christopher said Strathfield has been running behind the greater Sydney average during the current recovery, but “signs are this is about to change”. He advised investors to bypass the high-priced houses and instead focus on units close to the train station.
Mr Christopher noted the suburb’s “ridiculously low” vacancy rate of 1.1 per cent, but he did caution that the inner west’s massive rise over the past 18 months may mean it’s due for a pull-back.
Regional suburbs were also selected for their investment potential in the year ahead.
Margaret Lomas said Gosford on the Central Coast was set to benefit from improving council development processes.
She said an extended period of “little growth”, limited land supply and future development were all key drivers of the area’s imminent capital growth.
The full list, including suburbs from Victoria, Queensland, South Australia, Tasmania and Western Australia, is in this month’s edition of Smart Property Investment magazine – currently on newsstands.