Na­tion’s prop­erty hot spots re­vealed

Herald Sun - Property - - NEWS -

AUS­TRALIA’s prop­erty mar­kets are re­mark­ably var­ied. While one state de­liv­ers record cap­i­tal gains, an­other trum­pets its af­ford­abil­ity to buy­ers des­per­ate to get on the prop­erty lad­der.

On the eve of Ray White’s first na­tion­wide auc­tion cam­paign, Raise Your Hand, we asked its lead­ing ex­perts to iden­tity op­por­tu­ni­ties in their lo­cal prop­erty mar­kets.

Their in­ter­views, along with more than 400 prop­er­ties up for auc­tion na­tion­ally, will ap­pear in mag­a­zine to be in­serted in your

to­mor­row.

Here’s a snap­shot.

Mel­bourne’s south­east hid­den gem sub­urbs will be the ones to watch this year, says Ray White Vic­to­ria chief ex­ec­u­tive Domenic Belfiore.

“Parts of bay­side Mel­bourne, like Mor­dial­loc, Din­g­ley Vil­lage, Beau­maris, Chel­tenham, you can still buy good prop­erty there in the $800,000 range but I don’t think it will be long be­fore $1 mil­lion will be the me­dian sale price in those ar­eas,” he said. “Any­thing un­der $1 mil­lion there, you’d get your hands on straight away.”

Mr Belfiore is also a fan of re­gional Vic­to­ria.

“It of­fers a won­der­ful af­ford­able life­style for home buy­ers, and in­vestors can gen­er­ally ex­pect higher rental yields,” Mr Belfiore said, adding that mar­ket con­fi­dence would con­tinue to drive the prop­erty mar­ket across the state.

“There’s no doubt we won’t have the same growth we did in 2015 but while un­em­ploy­ment stays where it’s at and there’s a prospect of the econ­omy im­prov­ing this year, that gives me con­fi­dence to be­lieve 2016 will be a good year.”

The boom may be wind­ing up, but Ray White NSW chief ex­ec­u­tive Stephen Nell be­lieves the mar­ket is still strong, not­ing the com­pany had its most suc­cess­ful De­cem­ber for sales vol­umes in 2015.

Mr Neil said Syd­ney ar­eas with ac­cess to in­fra­struc­ture still had an up­side.

“In­fra­struc­ture in a city like Syd­ney will be­come more im­por­tant for peo­ple choos­ing where to buy,” he said. “The northwest cor­ri­dor is a great ex­am­ple.”

Re­gional cen­tres could see a flow-on ef­fect from Syd­ney’s su­per­charged growth cy­cle.

“The cen­tral coast and mid north coast are look­ing good,” he said. “Tam­worth, Dubbo, Or­ange, Wagga, Illawarra, the south coast and New­cas­tle too.”

Ade­laide’s af­ford­abil­ity will con­tinue to un­der­pin the mar­ket, says Ray White SA/NT chief ex­ec­u­tive Nick Ge­orge.

“One unique thing about Ade­laide is that young peo­ple, first-home buy­ers, can af­ford to buy here, whereas that’s not re­ally the case in the east­ern states,” he said. “So we do have fac­tors here that un­der­pin our mar­ket and will at least cre­ate some steady growth.”

Mr Ge­orge said in­vestors should look to the western side of town for af­ford­able prop­erty with growth po­ten­tial.

On the back of strong buyer de­mand, prop­erty val­ues in Hobart and its in­ner-city sub­urbs grew sig­nif­i­cantly in 2015.

Hobart recorded 4 per cent growth in me­dian houses prices in 12 months and North Hobart grew 10 per cent.

Ray White’s Vic­to­ria and Tas­ma­nia chief ex­ec­u­tive Domenic Belfiore ex­pects this to con­tinue.

“As prices rise in the in­ner- city ar­eas we may see younger fam­i­lies and in­vestors look more to­wards the fringes for af­ford­able prop­erty and bet­ter rates of rental re­turn,” he said.

Ray White WA chief ex­ec­u­tive Mark White­man has great news for Perth home­buy­ers — the mar­ket is pre­sent­ing the best pur­chas­ing op­por­tu­ni­ties in more than a decade.

“There have been many good op­por­tu­ni­ties to buy in the past, but you would have to an­a­lyse it very hard to find any time bet­ter to buy than this,” Mr White­man said.

He said mul­ti­ple in­fra­struc­ture works in the CBD were a key fac­tor in at­tract­ing in­creased in­ter­state and over­seas in­vest­ment.

It’s a case of slow and steady wins the race for the Queens­land prop­erty mar­ket, says Ray White chief ex­ec­u­tive of­fi­cer Tony War­land.

“All of our in­di­ca­tors show that there is plenty of fuel in the mar­ket, as in­quiry is high and stock is lim­ited,’’ he said.

The fig­ures back such con­fi­dence in the lo­cal mar­ket: dwelling val­ues in­creased 4.1 per cent in 2015, with houses up by 4.3 per cent and units by 1.8 per cent.

Mr War­land said in­fra­struc­ture in­vest­ment was de­liv­er­ing ben­e­fits for buy­ers in the north and cen­tral parts of the state.

“The Gold Coast is ob­vi­ously head­ing to­wards the Com­mon­wealth Games and this means a lot of in­vest­ment in in­fra­struc­ture,” he said.

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