5 Australian suburbs set to surge in 2014!!!

5 Australian suburbs set to surge in 2014!!!

With the start of the new year many of us are looking to move into the property market.

Whether your buying your first or fifth investment property you can be sure that the following five suburbs have as higher chance as any for growth over the next 24 months.

The content of this article is based on the findings of the January 2014 addition of Australian Property Investor Magazine.

1. Harris Park NSW

  • Location: 23km west of Sydney CBD
  • Median unit price: $324,000
  • Rental yield: 5.8%
  • 12-month price growth: 8%

Positioned on the boarder of Parramatta’s CBD, this suburb is becoming more popular as Parramatta claims its position as Sydney second CBD. The fact that Harris Park is just around the corner from the University of Western Sydney and there isn’t any land left to build on make it a fairly safe decision for investors. All of the indicators including the local economy, infrastructure, amenities and an auction clearance rate of 92% are pointing in the right direction for Harris Park.

Best buys: Boutique blocks of units.

2. Dulwich Hill NSW

  • Location: 9km southwest of Sydney CBD
  • Median unit price: $492,250
  • Rental yield: 4.7%

With medium unit prices cheaper than it neighboring suburbs, a trendy vibe and the University of Sydney 10 minutes down the road all support the business case for Dulwich Hill. A positive indicator for the suburb is the demographic shift in average weekly median household income levels, which have risen to $1,540 over the last 10 years.

Capital growth potential: With a number of years since the last rise in property prices in Dulwich Hill and the historically low interest rates it may just be a matter of time before this inner city market starts to climb.

3. Woolloongabba QLD

  • Location: 3km from Brisbane CBD
  • Median house price: $575,000
  • Rental yield: 4%

Once seen as Brisbane’s ugly ducking, this inner city suburb is coming of age. Home to 3 hospitals, 5 private schools, and precincts attached to 3 universities, Woolloongabba is becoming an employment hub.

Capital growth prospects: With the wide spread changes taking place, this suburb is set to surge. OnTheHouse expects house prices to grow by an average of 9.35% each year during the next 5 years.

4. Newcastle CBD NSW 

  • Location: 162km north of Sydney
  • Median unit price: $430,000
  • Rental yield: 6%

With prices rising so quickly in Newcastle over the last 6 months the CBD is set for quality growth over the longer term. According to PRDNationwide research analyst Aaron Maskrey the CBD has a strong property market tat has, so far, withstood the slow down of mining activity. As an affordable alternative to Sydney, a position next to the Hunter Valley and a harbor, which is exporting record levels of coal, Newcastle has a lot to offer.

Best buys: Tyrell and Church Streets have a good selection of older two-bedroom units and are walking distance to Newcastle beach.

5. New Farm QLD

  • Location: 2km east of Brisbane CBD
  • Median unit price: $493,000
  • Rental yield: 5%

Surrounded by the Brisbane River on all but its northern boundaries New Farm has benefited from a lack of available land and consistent long-term growth. High quality restaurants, bars, supermarkets and green spaces add to the desirability of this suburb. PriceFinder figures suggest the median unit price has more than quadrupled over the last 18 years. With the lack of accommodation in Brisbane beginning to take affect New Farm should begin to benefit from growth over the next few years.

The information provided in this article is of a general nature only and in no way constitutes legal or professional advice, or specific advice in relation to any finance. In all cases we recommend you receive professional financial advice for your own personal circumstances.

 

 

 

 

 

Ben Everingham

About

Ben founded Pumped On Property after building a multi-million dollar property portfolio over a 5 year period. His mission is to show you how to replace your income through property investing so you can do what you love…full time.